you, everyone. good to and Thank Andrew, morning
say the to opportunity Before had discussing to our the humbled to quarterly like I’d have lead results, financial that last years. at organization BrightView I’m X the for
team to have We proud ensure to with Brett are look team working closely and the and forward we that the extremely a of we transition. built, seamless
supporting We growth that him to in shareholder and enable vision profitable our to will are Brett’s and of strategic confident succeed business long-term value. drive knowledge leadership, goal deep the
Let’s growth for to development turn pleased land delivered quarter to We am in strong I now BrightView. our and on our report results. another businesses. outstanding organic
pillars end positions to EBITDA guidance surge for and the on maturities adjusted at SOFR-based fuel. and refinanced range we snowfall balance our our terms, Under loans X-year we cost-effective a Andrew million execute Both price grow The term Our us was business in despite us loan of no to and lower at and secured matures provide of With $X.X with sheet the let And favorable and and recently, organic rates. XXXX, the of new as high and and in funding from long-term a headwinds revolver. me our of generation, to the Having strategy snapshot syndicated enhancement a near-term matures margin new continue enables our success. mentioned, investment our bank the billion We facility. cash X-year results. acquisitions term over our XXXX. a loan focused time. key mergers in second revolver are $XXX quarter now remain growth, on that, successfully
ancillary principally offset business. in growth was by organic weakness Land strong a fueled supported the growth and maintenance Slide X% for by revenue organic our segments. Total was growth, driven by quarter XX, was by both X%. X%, to land revenue in increased by second development snow continued increases our revenues Maintenance increased total in contract growth rebound and Moving our services. by which
Additionally, $XX during remain of bidding $XX fiscal businesses. strong continue We by pipeline of growth The M&A of encouraged of a was compared by half to XXXX. the to we Development the XX% growth bid increased XX% our XX% prior organic revenue by of increase realized incremental acquired than from revenues year. we second and more growth million anticipate calendar, and driven million. combination organic and
segment. year. total second the to Slide down compared the prior $XX million, adjusted lower details decline our prices XX, and in fuel EBITDA headwind The quarter impacted $X a Turning was headwind. or was million on a million for by higher higher prices, XX% was was The driven which adjusted the which EBITDA million $X to primarily approximately snowfall, fuel $XX maintenance our
our as positive organic growth Importantly, from guidance our EBITDA and adjusted benefit end and from management. came our range high in cost maintenance the of labor development contribution well strong at as
fuel prior our million been XX% headwind, EBITDA adjusted have the and million, $XX Excluding snowfall year. would up or $X relative the to
$XX compared our adjusted results and was at down adjusted prior the compared in or Looking by an the XX.X% maintenance year. margin XX.X% of XX% to to EBITDA prior EBITDA segment, year million reflects
driven improvement branch in last quarter. stronger costs. X our the a prior implementation by segment, X% impact XXX mitigating EBITDA more Solid snowfall inflationary lower represents were than year. headwinds, penetration points increased was or where EBITDA prices. fuel of the was adjusted than continued have illustrates experienced contract margins historical and second rebound margin XX% the development primarily to offset the an decline and quarters. growth adjusted we Development was in by our quarters EBITDA adjusted greater the recent across improvement in development pace. over by ancillary of improvement Slide The our a lower development offset decelerating and margin prior actions The at surge On the the footprint for In services adjusted basis chart this the XX, over EBITDA revenues material
in year-over-year made have see, can trends. we significant margin you As improvement
improvement fiscal margin to XXXX. quarter sustained fourth in positive be and We this growth expect of achieving anticipate the
improvement expenses on prior reflect relative and QX, to fiscal a XX management. corporate expense of revenue, basis focus year our represented point X.X% For
summary, future we is growth for per of with adjusted $X.XX prior quarter compared our earnings a share to the calls. for share $X.XX we earnings line adjusted per pleased earnings and year. the were for top per to delivered Our were In during BrightView discuss measurement share on $X.XX prior from compared to us useful We believe expect are the quarter. year. very the Year-to-date, value the $X.XX
our rising and and and land support from backlog efforts will pressures prices and M&A development believe over Despite wins wages. and inflation fuel time. can are strong business of expanding goal BrightView. to continued strategy reliable are cost improving short-term growth pre-pandemic ancillary notably fundamentals trends can improvement a underpinned business, by of the growth organic source fluctuations what levels a year-to-year material we our contract be occur that we growth. costs margins We believe These in their return to back saw New drove organic to for managing snowfall, we the we control, in
move capital million second increase million by for in and orders impacted capital or allocation expenditures sheet balance to of compared the X.X% $XX pandemic-related or the totaled the quarter prior X.X% Net now were chain our XX. revenue to supply issues. by on This driven Let’s of revenue timing that Slide of $XX received year. was
to continue billion, capital our Net fiscal is revenue be range. March XXXX, Looking to ahead, XXXX, expenditures executing share X.X% driven which year. of million capital of reflecting approximately approximately transactions. the on on our we our XX, was debt anticipate line historical guidance an M&A The of expenditures $X.XX was execution and increase repurchase with prior program, in for primarily versus our stated by timing against $XXX increase
from leverage accretive of leverage the the ratio in EBITDA Our of held second the year. year-over-year decline and shares snow-driven our repurchase the X.Xx MSD driven by increase was the tranche acquisitions, X.Xx million prior by was The end first continued of X.X quarter, ratio first at up in half. the the in
MSD April, we of acquired the purchase. in the disclosed publicly As we tranche final
that fundamentals generation strong our give at and an levels leverage You to accretive comfort QX to The purchase. operate execute in acquisitions. cash million us and stability additional outflow on business to $XX and the of will opportunistic related continue to see higher flow
XXXX, flow decline was capital impact The million. timing of the by free of For the million in $XX compared driven the the to our was quarter approximately and snow $XX free year second of prior expenditures cash flow of revenue. cash lower
first decreased This mainly the $XX.X free the $XX.X an of compared repayment the tax was For flow to to of the half CARES year, under million in prior Act. inflow outflow year. due the of decrease to deferral an million cash payroll the of
cash we free impact, Act flow have been CARES the Excluding would positive.
$XX free million, availability Our comparison the durable under cash renewed year. down and second to update which in At repurchase Total share the $XXX our agreement of quarter million financing due on from XXXX, our to investment the year revolver particularly Slide reflect trends liquidity March hand. the prior on XX. cash An fiscal was flow in and business, as resilient our XXXX, on of prior end is of approximately million of we and and capital approximately had receivables of XX, $XXX liquidity expenditures. timing is of
Our us and liquidity to to strategy. growth support continues flexibility our run provide BrightView optionality with and ample
X, syndicated final our as repurchase MSD May facility, bank of refinancing the to of following and the approximately increased the million. of $XXX from tranche Importantly, million by $XXX shares of our liquidity plus
to now fiscal our outlook turn Let’s to Slide for the review XX year.
demand contract-based land for improving. is maintenance is growing business Our services and ancillary
will market by organic encouraged durable and believe in are growth. We result land trends maintenance this
and our of For approximately expectations. X% that second organic half of reasonable we land is of slightly the maintenance X% long-term the to ahead growth year, believe
scope As Andrew reductions. likely will in certain mentioned, result price increases
on will cost and fuel including the line, will it wages, will support offset headwinds, prices. material benefits certainly costs EBITDA. benefit Pricing rising us adjusted top to this the our enable mask While
maintenance half in second to are should revenue M&A EBITDA the and and momentum year, for continue positive organic expect confident of that both deliver the sources. incremental the We QX in we land
our about we Additionally, green ability solid we to and trends. and our optimistic by In deliver results. remain our development backlog encouraged pipeline segment, season our are
and fuel than year. which affects second as market to We ‘XX projects half inflation, fiscal needed from the as expect continue. materials the and we pressures prices, organic for from greater The growth will the well XXXX have seen of to continue be XX% throughout cost into for fiscal
pricing confident that will to are help We headwinds. including offset these proactive our efforts,
result, between total $XXX As XXXX, $XX EBITDA $XXX million. between million and our quarter million third for anticipate we and a and fiscal revenues $XXX million adjusted
between total year anticipate $X.XX fiscal our billion EBITDA XXXX, adjusted revenues $X.XX million. For we and $XXX million and billion $XXX and between
Slide to move Let’s XX.
me of the year we about fiscal speak to goals. turning XX.X%. In EBITDA our margin Before call EBITDA margin adjusted reported over Andrew, adjusted XXXX, let
about For the an relative of fiscal prices. approximately full in XXXX, the adjusted decline. This decline XX fuel midpoint rise contribution would by, first, result in points our prior year guidance range of XX.X%. basis is of implies driven This margin EBITDA year the to that to
year. lower the benefit XX And Second, of paused the approximately This margin in the reintroduction was the revenue expected pressure. drove points to impact of contribute prior is approximately first XX points of which year, decline. snow the to half the basis third, XXX(k) basis the in of
were in Importantly, pricing to labor half realize offset we will able we through approximately that the points XX cost year. of basis of the increases pressures second
year, to the managing we costs. will of half the and our As on we the headwind focused look be will fuel behind be us, snow primarily second
are as higher to near-term initiatives and than fuel these introducing are we to been this to this many and fuel prior prices do years. We other pursuing to our headwinds, we as costs long remain fuel continue headwind. transitional. have material rising business, across companies, believe expect Similar We surcharges mitigate aggressively
consolidated advantageous the set from Investor EBITDA believe structure us scale XX%, late to Day cost and clear Our the have margins target at confidence our to give efficient we XXXX. towards about path in that improve a XX.X% we our
which we actions: on are levels. to through sustained proactive to first, pricing margin will the following expect We believe return pricing. our on segment, focus maintenance achieve Within historical our a executing strategy, we this
pricing We in XXX consolidated basis margin generate points focus to approximately the expect improvement.
is to growth. segment, our margin Second, drive recent improvement our sustained expected development in
improvement. approximately As a consolidated points XX in generating we margin anticipate basis result,
snow our Third, business.
We expect to the business normalized rebound to recover levels. and
stable snow revenue to removal expanding secure on focus more higher will margins. exposure Importantly, and our snow our self-performance
Netting These approximately business call basis including and snow of end back XX combined our margin headwinds margins trends historical pressures, to by partially be over continued let improvement. the inflationary drive points the With prices expect These Andrew. will build actions higher-than-average in fuel we material approximately our offset me impact expansion and historical consolidated path the result, exceeding costs. a As efforts of basis high to points. consolidated we that, offsets, performance. to expected the margin by the continue turn XXX will
