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Author: Greg Herring

Greg Herring

Greg Herring

Greg Herring has served as a CFO of both public and private companies. Herring is the founder and CEO of The Herring Group, financial leaders in the landscape industry on a mission to improve the profit margin of companies and the life margin of owners by using its proprietary process, the Path to 12 percent.  Read his blog at herring-group.com or get in touch at greg.herring@herring-group.com.  

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Why you should harness the power of selectivity

Greg Herring says the power of selectivity allows the company to choose more profitable services with higher profit margin customers.

A close look at BrightView’s latest developments and financial trends

Greg Herring discusses BrightView and their ESG initiatives while looking at the company’s latest financial results for the quarter ended December 31, 2021.

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Secrets for successful labor hour management

The Herring Group Landscape Industry Peer Benchmark Report revealed some interesting profit data. Find out more about what the report found.

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Are you selling a commodity or a service?

Landscape Management columnist Greg Herring digs into why landscapers should reframe their thinking that they’re selling a service, not selling hours.

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Insights on BrightView’s growth, response to wage inflation

Greg Herring of The Herring Group evaluates the growth of BrightView’s maintenance business and explains how the company will offset wage inflation.

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How to set your landscape business on a path to growth

Greg Herring shows how hiring the right management team and empowering managers to make good decisions can set your business on a path to growth.

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Grow your Green: Why the performance gap matters in the green industry

Greg Herring explores why some landscape companies have an operating profit exceeding 10 percent of revenue while others average less than 5 percent.

BrightView revenue boosted by snow, still searching for growth

BrightView discovered gold in the form of snow during the quarter ended March 31, 2021. Revenue of $226.0 million from snow removal services in the most recent quarter was more than double the revenue from the same quarter last year ($102.5 million). As seen in the table below, this additional snow revenue helped increase both […]

BrightView and the need for growth

If a landscape company wants to grow its landscape maintenance revenue, it can: Sell more maintenance contracts Lose fewer existing maintenance contract customers Sell more ancillary services (e.g. enhancements and irrigation) to its customers Increase its prices on existing customers Acquire other landscape businesses As discussed in previous articles, BrightView needs to grow to maintain […]

BrightView by the numbers

BrightView closed its fiscal year on Sept. 30, 2020. In its annual Form 10K filing with the Securities and Exchange Commission and in its presentation to analysts and investors, BrightView discloses information that is both interesting and relevant to other landscape companies. Statistical and Sales Information 240-plus branches 180-plus business developers 20-member sales team that […]

How to run your business like a landscape industry investor

Cash is flowing. Despite the pandemic, private equity firms continue to invest in landscape companies. Continued investment is good news for the industry because it creates options for owners and attracts more talent to the industry. The question for owners: Are you ready to compete? Professional investors like private equity firms buy companies because they […]

BrightView on defense: The company’s latest financial report

Greg Herring’s analysis of BrightView’s financials for the quarter ending June 30, 2020 shows a company playing defense.

BrightView says snow contracts, COVID-19 hit revenue

BrightView released its results for the quarter ended March 31. See the tables below. In its public filings and remarks, the company made the following comments about COVID-19: 67 COVID-19 infections out of 21,000 employees 1,000 employees quarantined who had been exposed Q3 2020 overall revenue is trending down approximately 5 percent due to COVID-19 […]

Finance expert Herring summarizes PPP loan safe harbor

The Small Business Administration (SBA) released FAQ 46 today related to safe harbor for Paycheck Protection Program (PPP) loans. It is copied below. Here is the summary: • Under $2 million PPP loan (in aggregate with affiliates – a defined term): Borrowers will be deemed to have made a good faith certification concerning necessity. • […]

BrightView’s unmanaged exits and results

Key points for the quarter ended Dec. 31, 2019: Overall adjusted operating income down Landscape maintenance revenue down before considering the effect of acquisitions Maintenance services (landscape and snow) profit margin down due to increased investment in sales team and incentive compensation expenses Construction revenue up To keep the stock price increasing, most public companies […]

How BrightView is using technology to plan for growth

I write this series of articles highlighting BrightView’s financial results because I know that landscape companies can compete and win against BrightView — bigger is not always better, and in some cases, it is worse. While bigger is not always better, bigger usually means more strategic planning, more structure and discipline in execution and more […]

Managed exits and BrightView results

Greg Herring reviews BrightView’s latest financial records and shares why managed exits are so important for landscape companies.

Finance expert Herring on BrightView’s first stumble

In previous articles, I have expressed admiration for BrightView’s ability to grow its operating profit margin quarter after quarter, on a trailing 12-month basis. In the 12 months ended Dec. 31, 2018, BrightView had its first stumble. Two events outside its control contributed to the decline in its operating profit margin. First, hurricane cleanup services […]

BrightView

Greg Herring analyzes BrightView’s latest financial update

Managed exits, centers of excellence, wallet share, working capital management. What do those phrases mean? They mean that BrightView Holdings has a strategic plan and is executing that plan. The proof is in the company’s financial results for the year ended Sept. 30, 2018. Before we get to the numbers, let’s review BrightView’s strategic plan […]

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Compete by mining your financials

How can average companies compete against large companies and lowballers? That’s the question. Here’s the short answer: They can’t. Average companies are just that—they’re average. Middle of the pack. Not special. Neither good nor bad. Just average. Polls have shown that in America, the majority of people consider themselves above average—a mathematical impossibility. If you […]

Finance expert Herring analyzes BrightView’s financial statements

BrightView released its financial statements and related disclosures for the quarter ended June 30. This information has great value for owners of landscape companies. I have simplified the company’s income statement and provided some observations below. As a CFO, I assemble and review rolling 12-month income statements in seasonal industries like the landscape industry. The […]

Finance expert sheds light on BrightView’s income statement, profit margins

Prior to going public, BrightView Holdings filed a 200+ page document with the Securities and Exchange Commission to discuss its business strategy, operations and financial statements. This document is designed to provide potential investors in BrightView with the information they need to make a wise investment decision. That information also holds tremendous value for BrightView’s […]

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