Key facts
- Brand Industrial Services Inc. (BrandSafway) experienced a sharp decline in first-quarter earnings.
- The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased by 20% year-over-year.
- EBITDA for the quarter was $71 million.
- Higher costs and investments in data center construction contributed to the reduced earnings.
Brand Industrial Services Inc., operating as BrandSafway, has reported a substantial decrease in its first-quarter earnings. This downturn is attributed to escalating costs and significant investments made as the company expands its operations into the data center construction sector. According to sources familiar with the matter, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a 20% reduction compared to the same period last year, falling to $71 million. BrandSafway is controlled by the private equity firm Clayton, Dubilier & Rice.