BrightView: Fiscal 1Q Earnings Snapshot
February 4, 2021 GMT
BLUE BELL, Pa. (AP) BrightView Holdings Inc. (BV) on Thursday reported a loss of $12 million in its fiscal first quarter.
The Blue Bell, Pennsylvania-based company said it had a loss of 11 cents per share. Earnings, adjusted for one-time gains and costs, were 12 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The investment company posted revenue of $554.4 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $539.1 million.
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For the current quarter ending in April, BrightView said it expects revenue in the range of $550 million to $600 million.
Price action over last quarter: Up 10.38%
Company Description
BrightView Holdings Inc is a provider of commercial landscaping services in the United States. The company provides commercial landscaping services, landscape maintenance and enhancements to tree care and landscape development. It operates through two segments namely Maintenance Services, and Development Services. The Maintenance Services are self-performed through a national branch network and are route-based in nature, and Development Services are comprised of sophisticated design, coordination and installation of landscapes at recognizable corporate, athletic, and university complexes. The company generates a majority of its revenue from the Maintenance Services.
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Industrial stocks are expected to receive a shot in the arm in 2021, say analysts who specialize in the sector.
Industrials were hammered when the U.S. economy was idled by COVID-19 and the slew of shutdown orders that followed to help slow the spread of the coronavirus. Now, however, with vaccines on the way, analysts outlook for an economic recovery in 2021 is much more optimistic. Expect strong catch-up growth in 2021 and the following years, say Morningstar analysts Preston Caldwell and Karen Andersen. Just note that industrials stocks might not take off immediately in 2021 – a second wave of COVID-19 infections in the U.S. is prompting more lockdown orders that could at least temporarily slow the recovery, and thus the sector.
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