Landscaping service company BrightView (NYSE: BV) will be announcing earnings results this Tuesday after market hours. Here’s what you need to know.
BrightView beat analysts’ revenue expectations last quarter, reporting revenues of $614.7 million, up 2.6% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and EPS in line with analysts’ estimates.
Is BrightView a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting BrightView’s revenue to decline 2.6% year on year, a further deceleration from the 1.5% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. BrightView has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at BrightView’s peers in the environmental and facilities services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Rollins delivered year-on-year revenue growth of 10.2%, beating analysts’ expectations by 1.2%, and Veralto reported revenues up 6.8%, topping estimates by 1.6%. Rollins traded up 3% following the results while Veralto was also up 4.5%.
Read our full analysis of Rollins’s results here and Veralto’s results here.
There has been positive sentiment among investors in the environmental and facilities services segment, with share prices up 9.4% on average over the last month. BrightView’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $16.46 (compared to the current share price of $11.77).
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