BrightView Holdings, Inc. (NYSE: BV), the leading commercial landscaping services company in the United States, announced today that the Company’s Board of Directors has declared a cash dividend of $8.8 million on its Series A Preferred Stock. The dividend represents payment for the period from December 31, 2024 to March 30, 2025, and will be paid on April 1, 2025 to holders of record as of March 15, 2025. Today’s dividend announcement marks the fifth consecutive quarterly cash payment made possible by the Company’s continued balance sheet flexibility and commitment to avoid the dilutive impact caused by payment in kind.

On August 28, 2023, BrightView issued and sold an aggregate of 500,000 shares of its Series A Convertible Preferred Stock for an aggregate purchase price of $500 million. The Series A Preferred Stock is convertible into shares of BrightView common stock at a conversion price of $9.44 per share. Holders of the Series A Preferred Stock are entitled to a dividend at the rate of 7.0% per annum, compounding quarterly, paid in kind, or paid in cash, at the Company’s election.

BrightView Holdings, Inc. (NYSE: BV) (the “Company” or “BrightView”), the leading commercial landscaping services company in the United States, today reported unaudited results for the first quarter ended December 31, 2024.

"We are off to a strong start to the fiscal year, fueled by the growing momentum of our evolving One BrightView culture,” said BrightView President and Chief Executive Officer Dale Asplund. “Our strong first quarter results position us to achieve our second consecutive full-year EBITDA record, while continuing to prioritize our employees and putting the customer at the center of everything we do. We are doing this while maintaining a continued focus on cash flow and our balance sheet, as evidenced by our recent term loan refinancing, which allows us to continue to reinvest in the business, explore acquisitions, and pave the way for sustainable, profitable growth.”

Read the full report here.

BrightView Holdings, Inc. (NYSE: BV) (“Company”) today announced that it has successfully completed a repricing of its $738,000,000 senior secured term loan due 2029. The repricing reduces the applicable interest rate on the Term Loan to Term SOFR plus 2.00%, down from the previous Term SOFR plus 2.50%. All other terms remain substantially unchanged. Coupled with the repricing from May 2024, the Company estimates that repricing the Term Loan will produce cash interest expense savings of approximately $7.5 million annually and approximately $35 million through maturity.

“We repriced our term loan in May 2024 and, again, we executed a repricing this week. Opportunistically managing the balance sheet and continuing to push costs down creates flexibility and drives our commitment to profitable growth,” said Brett Urban, BrightView Chief Financial Officer.

Forward Looking Statements

This press release includes certain disclosures which contain “forward-looking statements.” You can identify forward-looking statements because they contain words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “intends,” “plans,” “estimates,” or “anticipates,” and variations of such words or similar expressions. Forward-looking statements are based on BrightView’s current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements can be found under the caption “Risk Factors” in BrightView’s annual report on Form 10-K for the year ended September 30, 2024, as filed with the SEC, as such risk factors may be updated from time to time in its periodic filings with the SEC, which are accessible on the SEC’s website on www.sec.gov. Any forward-looking statement in this release speaks only as of the date of this release. BrightView undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

BrightView Holdings, Inc. (NYSE: BV), the leading commercial landscaping services company in the United States, announced today that the Company’s Board of Directors has declared a cash dividend of $9.0 million on its Series A Preferred Stock. The dividend represents payment for the period from September 30, 2024 to December 30, 2024, and will be paid on January 2, 2025 to holders of record as of December 15, 2024. Today’s dividend announcement marks the fourth consecutive quarterly cash payment made possible by the Company’s continued balance sheet flexibility and commitment to avoid the dilutive impact caused by payment in kind.

On August 28, 2023, BrightView issued and sold an aggregate of 500,000 shares of its Series A Convertible Preferred Stock for an aggregate purchase price of $500 million. The Series A Preferred Stock is convertible into shares of BrightView common stock at a conversion price of $9.44 per share. Holders of the Series A Preferred Stock are entitled to a dividend at the rate of 7.0% per annum, compounding quarterly, paid in kind, or paid in cash, at the Company’s election.

BrightView Holdings, Inc., the leading commercial landscaping services company in the United States, will host an Investor Day in New York City on Wednesday, February 19, 2025. 

Dale Asplund, President and Chief Executive Officer, will be joined by other members of the executive management team to present a comprehensive review of BrightView’s long-term strategy and financial objectives. The event, which will also be accessible at investor.brightview.com, will feature formal presentations as well as Q&A with senior leadership.

“We are excited to share an update on our journey toward sustainable profitable growth, including our strategic priorities, key initiatives, and financial targets,” said Asplund.  “Our unwavering commitment to prioritizing our employees and customers will position us as the service provider of choice, driving long-term, sustainable growth, while delivering ongoing value to our shareholders.” 

Additional details for the event will be available here and on BrightView’s investor website as the event date approaches. 

BrightView Holdings, Inc. (NYSE: BV) (the “Company” or “BrightView”), the leading commercial landscaping services company in the United States, today reported unaudited results for the three months and full fiscal year ended September 30, 2024.

“Fourth quarter results reconfirmed the delivery of a breakout year in fiscal 2024 as we continue to transform this business.  Our One BrightView culture is gaining traction, and we are positioned for fiscal 2025 to be a second consecutive record year,” said BrightView President and Chief Executive Officer Dale Asplund. “Our multi-faceted transformation has positioned us to prioritize our employees and customers and reinvest in our business, ultimately leading to sustainable growth and value creation for all of our stakeholders.”

Read the full report here.

In a powerful show of solidarity, BrightView (NYSE: BV), the nation’s leading commercial landscaping company, is providing all 21,000 team members across the country with specially designed pink hats to wear throughout October in honor of Breast Cancer Awareness Month. This initiative not only equips BrightView’s teams, but also sends a bold, visible message of hope and support as employees work in communities nationwide.

As teams continue their critical work in the field, the sight of pink hats will draw attention to the importance of regular health screenings, early detection, and ongoing research.

“At BrightView, we believe in leveraging our national presence to make an impact, and there is no better time than Breast Cancer Awareness Month to show our support for those affected by breast cancer,” said Amanda Orders, Executive Vice President and Chief Human Resources Officer, BrightView. “By uniting our workforce under a single symbol of awareness — the pink hat — we hope to amplify the conversation and inspire action in the fight against this disease.”

In addition to this symbolic gesture, BrightView will make a charitable contribution to the Susan G. Komen for the Cure, a leading organization dedicated to eradicating breast cancer through research, education, and advocacy.

As BrightView employees work across diverse communities, from large cities to rural areas, the pink hats will serve as a reminder that breast cancer awareness is a shared responsibility. Together, we can make a difference.

BrightView Holdings, Inc. (NYSE: BV), the leading commercial landscaping services company in the United States, announced today that the Company’s Board of Directors has declared a cash dividend of $9.0 million on its Series A Preferred Stock. The dividend represents payment for the period from June 30, 2024 to September 29, 2024, and will be paid on October 1, 2024 to holders of record as of September 15, 2024. Today’s dividend announcement marks the third consecutive quarterly cash payment made possible by the Company’s balance sheet flexibility and commitment to avoid the dilutive impact caused by payment in kind. 

On August 28, 2023, BrightView issued and sold an aggregate of 500,000 shares of its Series A Convertible Preferred Stock for an aggregate purchase price of $500 million. The Series A Preferred Stock is convertible into shares of BrightView common stock at a conversion price of $9.44 per share. Holders of the Series A Preferred Stock are entitled to a dividend at the rate of 7.0% per annum, compounding quarterly, paid in kind, or paid in cash, at the Company’s election.

BrightView Holdings, Inc. (NYSE: BV) (the “Company” or “BrightView”), the leading commercial landscaping services company in the United States, today reported unaudited results for the third quarter ended June 30, 2024.

"Third quarter served as another milestone as we continue to progress with our One BrightView initiatives and delivered margin improvement across all segments for both the quarter and the year-to-date results,” said BrightView President and Chief Executive Officer Dale Asplund. “Consequently, this positioned us to reaffirm the midpoint of our Revenue, EBITDA and Margin guidance for fiscal 2024, while raising our Free Cash Flow guidance for a second time this year. Our relentless pursuit to drive transformational change remains in the early innings as we continue down the path of positioning BrightView as the employer of choice, while providing better service to our customers and driving profitable growth."

Read the full report here.

BrightView Holdings, Inc. (NYSE: BV) (“Company”) today announced that its wholly-owned subsidiary, BrightView Funding LLC, has increased the overall size of its existing receivables financing agreement (the “Receivables Facility”) from $275 million to $325 million and extended its maturity date from June 2025 to June 2027. The Receivables Facility, a flexible source of debt and the Company’s least costly borrowing method, now includes an “accordion feature” that allows for an additional $100 million increase to the borrowing capacity. PNC Bank, National Association will continue to serve as administrative agent. 

The amendment to the Receivables Facility improves the leverage-based pricing tiers, reduces interest margin across all tiers, reduces the fee for unused capacity, and features an improved structure for better cash management and utilization. The new structure allows the Company to efficiently utilize its excess cash to pay down a portion of its debt under the facility, approximately $75 million. These changes, combined with improved pricing, are expected to result in interest expense savings of more than $5 million per year. 

“As with the recent repricing of our term loan, amending the Receivables Facility represents another opportunity to enhance our balance sheet flexibility and reduce costs,” said Brett Urban, BrightView Chief Financial Officer. “The success of achieving the tight-end target on the term loan reprice, and the favorable terms of this transaction, demonstrate the confidence of our lenders and investors. These actions exemplify our commitment to sustained profitable growth.”

Forward Looking Statements

This press release includes certain disclosures which contain “forward-looking statements.” You can identify forward-looking statements because they contain words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “intends,” “plans,” “estimates,” or “anticipates,” and variations of such words or similar expressions. Forward-looking statements are based on BrightView’s current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements can be found under the caption “Risk Factors” in BrightView’s annual report on Form 10-K for the year ended September 30, 2023, as filed with the SEC, as such risk factors may be updated from time to time in its periodic filings with the SEC, which are accessible on the SEC’s website on www.sec.gov. Any forward-looking statement in this release speaks only as of the date of this release. BrightView undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.