Bright Horizons Family Solutions

Latest Results (14.08.2024):

Revenue Growth

Bright Horizons Family Solutions reported a revenue of $623 million for the first quarter of 2024, marking a 12% increase compared to the first quarter of 2023. This growth was driven by enrollment gains, tuition price increases at their centers, and increased utilization of back-up care services.

Income from Operations

Income from operations for Bright Horizons Family Solutions in the first quarter of 2024 was $40 million, a 30% increase from the $30.6 million reported in the first quarter of 2023. This rise was primarily due to higher gross profit contributions from the full service center-based child care segment and increased utilization of back-up care services.

Net Income and Earnings Per Share

Bright Horizons Family Solutions achieved a net income of $17 million for the first quarter of 2024, a significant 109% increase from the $8.1 million reported in the same period of the previous year. Diluted earnings per common share also saw a substantial rise, reaching $0.29 compared to $0.14 in the first quarter of 2023.

Adjusted EBITDA

In the first quarter of 2024, Bright Horizons Family Solutions reported an adjusted EBITDA of $75 million, which represents a 7% increase from the first quarter of 2023. This improvement was mainly due to the increase in gross profit in the full service center-based child care segment.

2024 Financial Outlook

Bright Horizons Family Solutions has provided a positive outlook for fiscal year 2024, expecting revenue to be in the range of $2.6 billion to $2.7 billion. Additionally, the company anticipates diluted adjusted earnings per common share to be between $3.00 and $3.20, reflecting their confidence in continued growth and strong performance.