On this page of StockholderLetter.com we present the latest annual shareholder letter from BrightView Holdings, Inc. — ticker symbol BV. Reading current and past BV letters to shareholders can bring important insights into the investment thesis.
2024
ANNUAL
REPORT
Dear Fellow Shareholders,
Fiscal 2024 marked a transformative year for BrightView,
both culturally and financially, positioning us for longterm, profitable growth. Central to this transformation is
our commitment to operating as a unified One BrightView.
This starts with prioritizing the well-being of our team
members, who deliver exceptional service to our customers.
This focus on internal alignment and customer satisfaction
enables us to become the service provider of choice, which
is reflected in the significant improvement in customer
retention we achieved in fiscal 2024 - the first year of
improvement since our IPO. We believe this positive trend,
along with improving team member turnover trends, is
still in the early stages. Continued progress in these areas is
expected to drive sustainable growth and deliver meaningful
value for our shareholders.
This year, we also made significant progress across several
other areas, including streamlining our operating structure,
aligning compensation to support profitable growth, and
continuing our focus on centralization, scale efficiencies,
and margin expansion. These strategic initiatives are laying a
strong foundation for future success.
I am proud to lead BrightView through this multi-year
transformation, and I   m especially grateful for the increased
commitment from our team members to put our customers
at the forefront of everything we do.
As we execute on these initiatives, we expect to see sustained
operational and EBITDA margin improvements, alongside
an optimized capital structure. This operational excellence
provides BrightView with the flexibility to reinvest in the
business, further positioning us for long-term profitability and
growth, while also setting the stage for future acquisitions to
supplement growth.
Positioned for Sustainable Profitable Growth
Looking ahead, we are confident in our ability to drive both
customer retention and profitable growth. This confidence is
rooted in our belief in the power of One BrightView, as well as
our ability to leverage our scale through a variety of initiatives,
including realignment of sales to operations, route density,
cross-selling, fleet management, strategic capital allocation,
and centralized support.
We are optimistic about our prospects for fiscal 2025 and
beyond, and we are committed to achieving a second
consecutive year of record Adjusted EBITDA. As an industry
leader in a resilient, scalable business, we are well-positioned
to continue leveraging our culture and scale advantages to
become the service provider of choice, driving long-term
profitable growth.
I am honored to lead the BrightView team into this next phase
of growth and transformation, and I deeply appreciate the
ongoing support of our shareholders.
A Year of Transformation
The success we achieved in fiscal 2024 was the result of
both the hard work and dedication of our team members,
as well as the execution of key strategic initiatives. Despite
the challenges of unwinding non-core businesses, we were
able to drive improvement in Adjusted EBITDA and Adjusted
EBITDA margins. Additionally, we strengthened our balance
sheet and generated significant free cash flow, enhancing our
financial flexibility. This positions us to reinvest in the business,
reinforcing our path to sustainable profitable growth.
Our financial and operational outlook continues to improve as
we implement key strategic actions. A key milestone was the
successful strategic sale of the non-core U.S. Lawns franchise
business in the second quarter of fiscal 2024, along with
continued progress in winding down the unprofitable noncore aggregator business, BrightView Enterprise Solutions
(BES).
Sincerely,
Dale Asplund
President & Chief Executive Officer
 • shareholder letter icon 1/16/2025 Letter Continued (Full PDF)
 • stockholder letter icon 1/26/2023 BV Stockholder Letter
 • stockholder letter icon 1/18/2024 BV Stockholder Letter
 • stockholder letter icon More "Business Services & Equipment" Category Stockholder Letters
 • Benford's Law Stocks icon BV Benford's Law Stock Score = 25


BV Shareholder/Stockholder Letter Transcript:

2024
ANNUAL
REPORT

Dear Fellow Shareholders,
Fiscal 2024 marked a transformative year for BrightView,
both culturally and financially, positioning us for longterm, profitable growth. Central to this transformation is
our commitment to operating as a unified One BrightView.
This starts with prioritizing the well-being of our team
members, who deliver exceptional service to our customers.
This focus on internal alignment and customer satisfaction
enables us to become the service provider of choice, which
is reflected in the significant improvement in customer
retention we achieved in fiscal 2024 - the first year of
improvement since our IPO. We believe this positive trend,
along with improving team member turnover trends, is
still in the early stages. Continued progress in these areas is
expected to drive sustainable growth and deliver meaningful
value for our shareholders.
This year, we also made significant progress across several
other areas, including streamlining our operating structure,
aligning compensation to support profitable growth, and
continuing our focus on centralization, scale efficiencies,
and margin expansion. These strategic initiatives are laying a
strong foundation for future success.
I am proud to lead BrightView through this multi-year
transformation, and I   m especially grateful for the increased
commitment from our team members to put our customers
at the forefront of everything we do.
As we execute on these initiatives, we expect to see sustained
operational and EBITDA margin improvements, alongside
an optimized capital structure. This operational excellence
provides BrightView with the flexibility to reinvest in the
business, further positioning us for long-term profitability and
growth, while also setting the stage for future acquisitions to
supplement growth.
Positioned for Sustainable Profitable Growth
Looking ahead, we are confident in our ability to drive both
customer retention and profitable growth. This confidence is
rooted in our belief in the power of One BrightView, as well as
our ability to leverage our scale through a variety of initiatives,
including realignment of sales to operations, route density,
cross-selling, fleet management, strategic capital allocation,
and centralized support.
We are optimistic about our prospects for fiscal 2025 and
beyond, and we are committed to achieving a second
consecutive year of record Adjusted EBITDA. As an industry
leader in a resilient, scalable business, we are well-positioned
to continue leveraging our culture and scale advantages to
become the service provider of choice, driving long-term
profitable growth.
I am honored to lead the BrightView team into this next phase
of growth and transformation, and I deeply appreciate the
ongoing support of our shareholders.
A Year of Transformation
The success we achieved in fiscal 2024 was the result of
both the hard work and dedication of our team members,
as well as the execution of key strategic initiatives. Despite
the challenges of unwinding non-core businesses, we were
able to drive improvement in Adjusted EBITDA and Adjusted
EBITDA margins. Additionally, we strengthened our balance
sheet and generated significant free cash flow, enhancing our
financial flexibility. This positions us to reinvest in the business,
reinforcing our path to sustainable profitable growth.
Our financial and operational outlook continues to improve as
we implement key strategic actions. A key milestone was the
successful strategic sale of the non-core U.S. Lawns franchise
business in the second quarter of fiscal 2024, along with
continued progress in winding down the unprofitable noncore aggregator business, BrightView Enterprise Solutions
(BES).
Sincerely,
Dale Asplund
President & Chief Executive Officer



shareholder letter icon 1/16/2025 Letter Continued (Full PDF)
 

BV Stockholder/Shareholder Letter (BrightView Holdings, Inc.) | www.StockholderLetter.com
Copyright © 2023 - 2025, All Rights Reserved

Nothing in StockholderLetter.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy.