Record Adjusted EBITDA and Margin
BrightView delivered its highest-ever adjusted EBITDA of $113 million for the third quarter, an increase of $5 million or 5% compared to the prior year period. Adjusted EBITDA margins reached a record 16%, expanding by 140 basis points.
Significant Reduction in Employee Turnover
The company reduced its hiring needs by over 40% in just 21 months, resulting in savings in hiring, onboarding, and training new employees. Employee turnover, which was nearly 100%, has been significantly reduced, contributing to improved customer retention rates.
Customer Retention Improvements
Customer retention increased by 190 basis points on a trailing 12-month basis and 300 basis points since fiscal 2023, reaching approximately 82%. This improvement is attributed to enhanced employee satisfaction and service quality.
Fleet Management and Procurement Efficiencies
Investments of over $250 million in fleet management reduced the average age of core mowers to 15 months and core production vehicles to less than 6 years. Procurement centralization led to a 50% reduction in spend on safety gloves by streamlining vendors.