BrightView (BV) Q2 2026 earnings summary

Executive summary

• Achieved 6.1% year-over-year revenue growth in Q2 FY26 to $702.9 million, with land maintenance up 4% and record adjusted EBITDA of $79.1 million at an 11.3% margin.

• Snow revenue surged 28.5%–30% year-over-year, driven by above-average snowfall, while development services declined due to project timing.

• Customer retention improved to approximately 85%, with contract book up 3% year-over-year and employee turnover down 35% since FY24.

• Accelerated investments in sales force and frontline employees fueled contract growth and market share gains.

• Net income for Q2 was $1.7 million, down from $6.4 million year-over-year, with net income margin at 0.2%.

Financial highlights

• Q2 revenue reached $703 million (+6% YoY), with land revenue at $333 million (+4%), snow revenue at $222 million (+30%), and development services at $150 million (–13%).

• Record Q2 adjusted EBITDA of $79.1 million (+7.6% YoY), with maintenance segment margin up 110 basis points to 12.5%.

• Adjusted net income for Q2 was $13.3 million, with adjusted EPS of $0.09; adjusted free cash flow for six months was $(24.5) million.

• Cash and cash equivalents at March 31, 2026 were $10.1 million; long-term debt stood at $823.9 million.

• Capital expenditures for six months ended March 31, 2026 were $113.5 million, up from $92.3 million year-over-year.

Outlook and guidance

• FY26 revenue guidance raised to $2.745–$2.795 billion (prior: $2.670–$2.730 billion); land maintenance growth expected at 2–3%.

• Adjusted EBITDA guidance reaffirmed at $363–$377 million; adjusted free cash flow guidance at $100–$115 million.

• Snow revenue guidance increased to ~$290 million due to record snowfall.

• Development services revenue expected to decline 5% to flat.