Revenue Growth and Improved Profitability
Total revenue of $615 million, up 3% year-over-year, with adjusted EBITDA growth and management reiterating guidance for 2026 (third consecutive year of record adjusted EBITDA).
Strong Snow Performance Driving Near-Term Revenue
Snow revenue was a major benefit in the quarter, increasing ~110% year-over-year (approximately a $36 million positive impact in the quarter) and contributed materially to Q1 results.
Sales Force Ramp Accelerating Growth Pipeline
Added ~80 sellers in Q1 and ~180 sellers (~20% increase year-over-year) since early 2025; management plans further hires toward a 500-seller 2030 target. Early productivity from sellers contributed to sequential improvement in net new contract sales.
Improved Customer Retention and Employee Turnover
Customer retention improved ~450 basis points since 2023 to ~83.5% (approximate), and frontline employee turnover improved ~30% over two years — both cited as drivers of more reliable service and margin expansion.
Land Contract Book Expansion — Leading Indicator
Land Contract book of business grew approximately 2% over three consecutive quarters of positive net new contract sales, providing a leading indicator for expected Land revenue growth in back half of 2026.
Capital Allocation Discipline and Share Repurchases
Board increased share repurchase authorization from $100 million to $150 million; $14 million of repurchases executed in Q1 (roughly double prior quarterly average). Management highlighted repurchases at an average multiple of ~7.5x as an efficient use of capital.
Strong Balance Sheet and Liquidity
Reported leverage of ~2.4x, approximately $0.5 billion of liquidity, and no long‑term debt maturities until 2029 — providing flexibility for continued investments and potential M&A when appropriate.
Fleet Refresh and Technology Investments
Accelerated fleet refresh reduced average age of core mowers and production vehicles; 2026 CapEx expected elevated (~6.5% of revenue) as trailer refresh completes, then targeted to return to ~3.5%–4% thereafter. Field-management and HRIS rollouts progressing (1/3 of branches on field software) with reported capacity gains in branches live on the tool.
Guidance Reiteration
Management reiterated 2026 revenue, adjusted EBITDA and free cash flow guidance, citing confidence from underlying metrics (contract book growth, retention, turnover improvements and sales hires).