What Happened?
Shares of landscaping service company BrightView (NYSE:BV) fell 14.6% in the afternoon session after the company reported underwhelming third-quarter results. Sales narrowly topped analysts' revenue expectations, and its Maintenance revenue missed. The weak sales were mostly attributed to a shortfall in commercial landscape services and reductions in non-core businesses and ancillary services. In addition, its EPS fell short of Wall Street's estimates. Guidance was also mixed. Full-year revenue guidance was in line while full-year EBITDA guidance missed. Overall, this was a challenging quarter.
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What The Market Is Telling Us
BrightView’s shares are not very volatile and have only had 9 moves greater than 5% over the last year. Moves this big are rare for BrightView and indicate this news significantly impacted the market’s perception of the business.
BrightView is up 87.5% since the beginning of the year, but at $15.67 per share, it is still trading 16.3% below its 52-week high of $18.73 from November 2024. Investors who bought $1,000 worth of BrightView’s shares 5 years ago would now be looking at an investment worth $835.63.
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