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BrightView Holdings Inc. (BV-1.74%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports a decrease in net service revenues to $599.2 million from $626.7 million in the same quarter of the previous year. This decline is attributed to a reduction in Maintenance Services revenues.
Gross profit for the quarter was $126.8 million, down from $133.8 million in the previous year. The gross margin decreased slightly to 21.2% from 21.3%.
Selling, general and administrative expenses decreased to $119.3 million from $129.9 million, reflecting cost management initiatives.
The company reported a net loss of $10.4 million for the quarter, compared to a net loss of $16.4 million in the previous year. The improvement is due to reduced interest expenses and lower selling, general, and administrative expenses.
Adjusted EBITDA increased to $52.1 million from $46.7 million, driven by improvements in both Maintenance Services and Development Services segments.
Cash provided by operating activities was $60.5 million, while cash used in investing and financing activities was $55.3 million and $47.3 million, respectively.
The company had cash and cash equivalents of $98.3 million as of December 31, 2024, compared to $140.4 million at the end of the previous fiscal year.
BrightView continues to focus on strategic cost management and operational efficiency to improve profitability.
The filing also discusses various financial agreements, including amendments to the company's credit facilities and the issuance of Series A Convertible Preferred Stock.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the BrightView Holdings Inc. quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.