- Anticipates Opportunistic Share Repurchases
- Use of Open Market Repurchase Transactions
- No Expected Expiration with Anticipated Spend Near and Long Term
BrightView Holdings, Inc. (NYSE:BV), the leading commercial landscaping services company in the United States, announced today that its Board of Directors has authorized a share repurchase program totaling $100 million. The repurchase program allows for ongoing investment in the business, while utilizing moderate balance sheet leverage and facilitating opportunistic share repurchases.
"As part of our continued focus on strategically allocating capital and driving shareholder value, we are pleased to announce this new share repurchase program," said BrightView President and Chief Executive Officer Dale Asplund. "The strength in our balance sheet, coupled with our current valuation and unwavering commitment to drive sustainable and long-term profitable growth, gives us the confidence to reinstitute our share repurchase program and return capital to shareholders in a disciplined and opportunistic manner."
Any repurchases will be made at management's discretion and may be through a variety of methods, such as open-market transactions (including pre-set trading plans), accelerated share repurchases, and other transactions in accordance with applicable securities laws. The Company anticipates repurchase activities to occur over an extended period of time, potentially in its second fiscal quarter and in future fiscal years. The program has no time limit. The share repurchase authorization does not obligate the Company to acquire any particular amount of common stock and can be discontinued at any time.
Forward Looking Statements
This press release includes certain disclosures which contain "forward-looking statements." You can identify forward-looking statements because they contain words such as "believes" and "expects." Forward-looking statements are based on BrightView's current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, BrightView's ability to effect repurchases under the newly authorized share repurchase program due to changes in stock price, corporate or other economic or market conditions; the timing, manner and volume of repurchases of common shares pursuant to the repurchase program, and the factors that can be found under the caption "Risk Factors" in our most recent annual report on Form 10-K filed with the SEC, as such risk factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC's website on www.sec.gov. Any forward-looking statement in this release speaks only as of the date of this release. BrightView undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
About BrightView
BrightView ((BV), the nation's largest commercial landscaper, proudly designs, creates, and maintains the best landscapes on Earth and provides the most efficient and comprehensive snow and ice removal services. With a dependable service commitment, BrightView brings brilliant landscapes to life at premier properties across the United States, including business parks and corporate offices, homeowners' associations, healthcare facilities, educational institutions, retail centers, resorts and theme parks, municipalities, golf courses, and sports venues. BrightView also serves as the Official Field Consultant to Major League Baseball. Through industry-leading best practices and sustainable solutions, BrightView is invested in taking care of our team members, engaging our clients, inspiring our communities, and preserving our planet. Visit www.BrightView.com and connect with us on X (formerly known as Twitter), Facebook, and LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250313102214/en/
For More Information:
Investors
Chris Stoczko, Vice President of Finance
[email protected]
News Media
David Freireich, Vice President of Communications & Public Affairs
[email protected]