As the Q2 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the environmental and facilities services industry, including BrightView (NYSE: BV) and its peers.

Many environmental and facility services are non-discretionary (sports stadiums need to be cleaned after events), recurring, and performed through longer-term contracts. This makes for more predictable and stickier revenue streams. Additionally, there has been an increasing focus on emissions and water conservation over the last decade, driving innovation in the sector and demand for new services. Despite these tailwinds, environmental and facility services companies are still at the whim of economic cycles. Interest rates, for example, can greatly impact commercial construction projects that drive incremental demand for these services.

The 13 environmental and facilities services stocks we track reported a mixed Q2. As a group, revenues were in line with analysts’ consensus estimates.

In light of this news, share prices of the companies have held steady as they are up 1.1% on average since the latest earnings results.

BrightView (NYSE: BV)

An official field consultant for Major League Baseball, BrightView (NYSE: BV) offers landscaping design, development, and maintenance.

BrightView reported revenues of $708.3 million, down 4.1% year on year. This print fell short of analysts’ expectations by 1.9%. Overall, it was a slower quarter for the company with a significant miss of analysts’ adjusted operating income and EPS estimates.

Unsurprisingly, the stock is down 11.2% since reporting and currently trades at $14.46.

Read our full report on BrightView here, it’s free.

Best Q2: Montrose (NYSE: MEG)

Founded to protect a tree-lined two-lane road, Montrose (NYSE: MEG) provides air quality monitoring, environmental laboratory testing, compliance, and environmental consulting services.

Montrose reported revenues of $234.5 million, up 35.3% year on year, outperforming analysts’ expectations by 24.4%. The business had an incredible quarter with an impressive beat of analysts’ organic revenue estimates and a beat of analysts’ EPS estimates.

Montrose scored the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 23.7% since reporting. It currently trades at $27.96.

Is now the time to buy Montrose? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: Enviri (NYSE: NVRI)

Cooling America’s first indoor ice rink in the 19th century, Enviri (NYSE: NVRI) offers steel and waste handling services.

Enviri reported revenues of $562.3 million, down 7.8% year on year, falling short of analysts’ expectations by 2.5%. It was a disappointing quarter as it posted full-year EBITDA guidance missing analysts’ expectations significantly and a significant miss of analysts’ EBITDA estimates.

Interestingly, the stock is up 14.3% since the results and currently trades at $9.91.

Read our full analysis of Enviri’s results here.

Waste Connections (NYSE: WCN)

Operating a network of municipal solid waste landfills in the U.S. and Canada, Waste Connections (NYSE: WCN) is North America's third-largest waste management company providing collection, disposal, and recycling services.

Waste Connections reported revenues of $2.41 billion, up 7.1% year on year. This number beat analysts’ expectations by 0.7%. Overall, it was a strong quarter as it also produced an impressive beat of analysts’ adjusted operating income estimates and a beat of analysts’ EPS estimates.

The stock is flat since reporting and currently trades at $184.82.

Read our full, actionable report on Waste Connections here, it’s free.

Waste Management (NYSE: WM)

Headquartered in Houston, Waste Management (NYSE: WM) is a provider of comprehensive waste management services in North America.

Waste Management reported revenues of $6.43 billion, up 19% year on year. This print topped analysts’ expectations by 1.1%. Taking a step back, it was a mixed quarter as it also logged a decent beat of analysts’ EBITDA estimates but a slight miss of analysts’ adjusted operating income estimates.

The stock is down 1.3% since reporting and currently trades at $225.

Read our full, actionable report on Waste Management here, it’s free.

Market Update

Thanks to the Fed’s series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump’s presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape.

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