BrightView Holdings stock plummeted 19.21% after the company missed analyst estimates on both revenue and profitability in Q3, despite raising full-year revenue guidance. Revenue came in at $717.6 million (vs. $726M estimate) with adjusted net profit falling 44% to $0.17 per share (vs. $0.29 estimate). The company blamed increased insurance reserves and fuel costs, but also cut adjusted EBITDA guidance to $340-345 million from $363-377 million.
Axe note: BrightView’s steep profit decline and lowered EBITDA guidance reveal mounting operational pressures.