Record-High Adjusted EBITDA and Margin
BrightView reported its highest-ever adjusted EBITDA and margin, with a trailing 12-month EBITDA reaching $344 million, representing a $45 million or 15% improvement over the past 7 quarters.
Reduced Employee Turnover
The company reduced its frontline employee turnover by over 40% in 21 months, resulting in significant cost savings and improved customer retention rates.
Customer Retention Improvement
Customer retention rates increased by 190 basis points on a trailing 12-month basis and 300 basis points since fiscal 2023, reaching approximately 82%.
Increase in Adjusted EBITDA Margin
BrightView achieved record adjusted EBITDA margins of 16% for Q3, expanding by 140 basis points compared to the previous year.
Growth in Development Backlog
The development backlog grew by $14 million during the quarter, indicating future revenue potential and offsetting current revenue timing impacts.
Significant Free Cash Flow Growth
Adjusted free cash flow is expected to grow approximately 27% year-over-year, with a 500-point increase in free cash flow conversion.