BrightView plunges after Q1 results, outlook

BrightView Holdings

07/02/2023 16:02

** BrightView Holdings shares  BV.N  drop 23.80% at $6.36, on
track for biggest one-day pct drop since debut in late June
2018, after touching record intraday low of $5.57
    ** The commercial landscaping service company reported a Q1
adjusted EPS loss of 1 cent, better than the 9 cents per share
loss expected, while revenue was about 5% above the mean
estimate, per Refinitiv data
    ** However, the company forecast Q2 total revenue between
$610-$650 mln, well short of the current view of $700.51 mln,
with EBITDA between $33 mln to $43 mln, also short of the $56.24
mln est
    ** Among the 6 analysts that cover Brightview Holdings Inc,
the breakdown of recommendations are 1 "strong buy" or "buy," 4
"hold" and 1 "sell" or "strong sell" rating; median price target
of $9.10 is down from $14 on Nov 7
    ** BV shares now on track to close below 50-day moving avg
for first time since Jan 10
    ** Volume of 149,373 has already topped 10-day avg
 (Reporting by Chuck Mikolajczak)
 ((charles.mikolajczak@tr.com; @ChuckMik;))