Segments (Tables)

6 Months Ended

Mar. 31, 2026

Summary of Certain Financial Data For Each of Segments and Reconciliation of Segment Adjusted EBITDA to (Loss) Before Income Taxes

The following is a summary of certain financial data for each of the segments and reconciliation of Segment Adjusted EBITDA to (Loss) before income taxes:


	Three Months Ended March 31, 2026
	Maintenance		Development		Eliminations			Total
Net Service Revenues	$	554.6	$	149.6	$	(1.3	)	$	702.9
Less segment expenses
Direct costs(a)		339.5		112.3		(1.2	)
Other segment items(b)		145.6		27.7		(0.1	)
Segment Adjusted EBITDA		69.5		9.6		—			79.1
Reconciliation of total segment Adjusted EBITDA
Interest expense, net									13.7
Depreciation expense									47.4
Amortization expense									5.3
Business transformation and integration costs (c)									5.7
Equity-based compensation (d)									4.7
Income (loss) before income taxes								$	2.3


	Three Months Ended March 31, 2025
	Maintenance		Development		Eliminations			Total
Net Service Revenues	$	492.8	$	171.9	$	(2.1	)	$	662.6
Less segment expenses
Direct costs(a)		293.4		128.9		(2.2	)
Other segment items(b)		143.1		25.8		0.1
Segment Adjusted EBITDA		56.3		17.2		—			73.5
Reconciliation of total segment Adjusted EBITDA
Interest expense, net									12.8
Depreciation expense									31.8
Amortization expense									7.1
Business transformation and integration costs (c)									7.8
Equity-based compensation (d)									4.6
Debt extinguishment (e)									0.7
Income (loss) before income taxes								$	8.7


	Six Months Ended March 31, 2026
	Maintenance		Development		Eliminations			Total
Net Service Revenues	$	991.0	$	328.8	$	(2.1	)	$	1,317.7
Less segment expenses
Direct costs(a)		592.4		245.2		(2.1	)
Other segment items(b)		293.6		56.1		—
Segment Adjusted EBITDA		105.0		27.5		—			132.5
Reconciliation of total segment Adjusted EBITDA
Interest expense, net									27.2
Depreciation expense									90.3
Amortization expense									11.5
Business transformation and integration costs (c)									12.7
Equity-based compensation (d)									8.9
Income (loss) before income taxes								$	(18.1	)


	Six Months Ended March 31, 2025
	Maintenance		Development		Eliminations			Total
Net Service Revenues	$	902.1	$	363.7	$	(4.0	)	$	1,261.8
Less segment expenses
Direct costs(a)		523.5		275.0		(4.0	)
Other segment items(b)		287.6		54.1		—
Segment Adjusted EBITDA		91.0		34.6		—			125.6
Reconciliation of total segment Adjusted EBITDA
Interest expense, net									26.9
Depreciation expense									62.3
Amortization expense									15.2
Business transformation and integration costs (c)									17.0
Equity-based compensation (d)									9.4
Debt extinguishment (e)									0.7
Income (loss) before income taxes								$	(5.9	)


	Three Months Ended March 31,				Six Months Ended March 31, 2026
Capital Expenditures	2026		2025		2026		2025
Maintenance Services	$	54.7	$	31.3	$	103.5	$	73.0
Development Services		4.1		2.3		10.0		19.3
Capital Expenditures	$	58.8	$	33.6	$	113.5	$	92.3

(a)

The Company's significant segment expense, direct costs, aligns with the segment level information that is regularly provided to our CODM. Direct costs include direct labor, materials, and other costs that are directly incurred as a result of the delivery of services. Direct costs do not include costs of sales that are allocated to services including fuel and depreciation. Intersegment expenses are included within the amounts shown.

(b)

Other segment items for both segments primarily include indirect compensation costs, auto and equipment costs, selling, general, and administrative costs and allocation of corporate expenses.

(c)

Business transformation and integration costs consist of severance and related costs, information technology, infrastructure, transformation, and other costs. These costs represent expenses related to distinct initiatives, typically significant enterprise-wide changes, including actions taken as part of the Company's One BrightView initiative. Such expenses are excluded from Segment Adjusted EBITDA disclosed above since such expenses vary in amount based on occurrence as well as factors specific to each of the activities, are outside of the normal operations of the business, and create a lack of comparability between periods.

(d)

Represents equity-based compensation expense and related taxes recognized for equity incentive plans outstanding.

(e)

Represents losses on the extinguishment of debt related to Amendment No. 9 to the Credit Agreement, in the fiscal year ended September 30, 2025 and includes accelerated amortization of deferred financing fees and original issue discount as well as fees paid to lenders and third parties.