Why BrightView Holdings Stock Tanked Today
Its third-quarter revenue and profitability fell short of analyst estimates.
Overview
BrightView Holdings (NYSE: BV) stock got smacked with an investor sell-off on Tuesday. The catalyst was the company's fiscal third-quarter results, which, despite a guidance raise for a key line item, missed analyst estimates for both revenue and profitability.
BrightView, which specializes in professional landscaping services, posted revenue of $717.6 million, representing slightly over 1% year-over-year growth. The company's net profit not in accordance with generally accepted accounting principles (non-GAAP, or adjusted) went sharply in the other direction, falling by 44% to $25.4 million ($0.17 per share).
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Details
Source
Originally published at www.fool.com.