BrightSpring Health Services Q1 Revenue Up 25.6%, Adjusted EBITDA Up 44.8%, Raises Guidance
BrightSpring Health Services reported Q1 net revenue of $3.614 billion, up 25.6%, adjusted EBITDA of $190 million, up 44.8%, and net income of $74 million compared to $9 million last year. The company raised full-year revenue guidance to $14.725–15.225 billion and adjusted EBITDA guidance to $795–825 million and secured a Zacks Rank #1 growth stock designation.
1. Q1 Financial Performance
BrightSpring Health Services delivered net revenue of $3.614 billion in Q1, a 25.6% increase year-over-year, with gross profit rising 42.5% to $482 million. Net income climbed to $74 million from $9 million last year, while adjusted EBITDA grew 44.8% to $190 million.
2. Business Metrics and Divestiture
Pharmacy Solutions revenue reached $3.171 billion, up 25%, with revenue per script increasing 27% to $295.56 and gross profit per script up 50% to $28.03. Provider Services revenue rose 28% to $442 million, home health daily census increased 52% to 46,066, and leverage improved to 2.27x following the $31.2 million gain on sale of the Community Living business.
3. Full-Year Guidance and Zacks Rank
The company raised full-year revenue guidance to $14.725–15.225 billion (14.1%–17.9% growth) and adjusted EBITDA guidance to $795–825 million (28.7%–33.6% growth). It expects the Amedisys and LHC acquisition to add approximately $30 million in EBITDA and earned a Zacks Rank #1 growth stock designation.