UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41938 | --- | |----------------------------------------------------------------------------| | | | | | | | Delaware | | (Stat ...

LOUISVILLE, Ky., November 1, 2024 — BrightSpring Health Services, Inc. ("BrightSpring" or the "Company") (NASDAQ: BTSG), a leading provider of home and community-based health services for complex populations, today announced financial results for the third quarter ended September 30, 2024, and increases 2024 revenue and Adjusted EBITDA 1 guidance. 1 BrightSpring Health Services, Inc. Reports Third Quarter 2024 Financial Results and Increases Full Year 2024 Guidance Financial Highlights • Net Revenue of $2,9 ...

LOUISVILLE, Ky., Nov. 01, 2024 (GLOBE NEWSWIRE) -- BrightSpring Health Services, Inc. (“BrightSpring” or the “Company”) (NASDAQ: BTSG), a leading provider of home and community-based health services for complex populations, today announced financial results for the third quarter ended September 30, 2024, and increases 2024 revenue and Adjusted EBITDA1 guidance. Financial Highlights Net Revenue of $2,907 million, up 28.8% compared to $2,257 million in the third quarter of 2023.Net loss of $9.0 million, compa ...

Overview of FMR LLC (Trades, Portfolio)'s Recent Transaction On September 30, 2024, FMR LLC (Trades, Portfolio) made a significant addition to its investment portfolio by acquiring 18,498,153 shares of BrightSpring Health Services Inc (BTSG, Financial). This transaction, executed at a price of $14.68 per share, reflects a strategic move by the firm, aligning with its broader investment objectives. The trade not only increased FMR LLC (Trades, Portfolio)'s total holdings in BTSG but also adjusted its portfol ...

LOUISVILLE, Ky., Oct. 01, 2024 (GLOBE NEWSWIRE) -- BrightSpring Health Services, Inc. ("BrightSpring" or the "Company") (NASDAQ: BTSG) announced today that it plans to release its third quarter 2024 financial results on Friday, November 1, 2024, prior to the Company's earnings conference call, which will be held at 8:30 a.m. ET on the same day. To participate in the conference call, please register here before the 8:30 a.m. ET start. A live and archived webcast of the call will be available on the Company's ...

LOUISVILLE, Ky., Sept. 30, 2024 (GLOBE NEWSWIRE) -- BrightSpring Health Services ("BrightSpring" or "the Company") (NASDAQ: BTSG), a leading provider of home- and community-based health services for complex populations, today announced that Dr. Steve Miller was appointed as a Class II member of the Board of Directors. Dr. Miller will also serve as a member of the Board's Audit Committee and as the chair of the Board's Quality & Compliance and Governance Committee. As a nationally recognized advocate for gre ...

Core Insights - Haven Hospice, a provider of hospice care in North Central Florida, has sold select assets to BrightSpring Health Services effective September 1, 2024, while maintaining its mission of providing comfort and care [1][3] - The transaction was facilitated by The Braff Group, which served as the exclusive financial advisor to Haven Hospice [2] - Haven Hospice has been recognized for its excellence in end-of-life care and has been operational since 1979, facing challenges in reimbursement and regulatory oversight [3] Company Overview - Haven Hospice has been a premier provider of end-of-life care in North Florida for 45 years and has received multiple awards for its services [3] - BrightSpring Health Services is a leading provider of home and community-based healthcare services, which will enhance the resources available for improved patient outcomes [3] Transaction Details - The sale includes select assets of Haven Hospice and also involves the acquisition of the Attic Resale Stores by BrightSpring [1] - The Braff Group has completed over 375 transactions and is recognized as a top advisory firm in healthcare mergers and acquisitions [4]

Core Insights - BrightSpring Health Services has completed the acquisition of Haven Hospice, expanding its hospice services into Florida, effective September 1, 2024 [1][2] - The total consideration for the acquisition is $60 million, structured as $15 million in cash, $30 million in company equity, and a $15 million seller note payable in 2028 [2] Company Overview - BrightSpring Health Services is a leading provider of home and community-based health services for complex populations, offering integrated solutions across various service lines including pharmacy, primary care, home health care, and rehabilitation [4] - The company serves over 400,000 customers, clients, and patients daily across all 50 states [4] Service Expansion - The acquisition allows BrightSpring to provide advanced care planning, palliative, and hospice services throughout specific Florida Agency for Health Care Administration service areas [2] - BrightSpring's hospice services are rated in the top five percent for quality in the industry, indicating a commitment to high-quality care for patients and their families [2]

NEW YORK, Aug. 10, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against BrightSpring Health Services, Inc. ("BrightSpring" or the "Company") (NASDAQ: BTSG) on behalf of BrightSpring stockholders. Our investigation concerns whether BrightSpring has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. On or around January 25, 2024, Bright ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $2.7 billion, representing a 26% year-over-year growth [9][41] - Adjusted EBITDA for the quarter was $139.1 million, reflecting a 17% growth year-over-year [9][43] - Adjusted EBITDA guidance for 2024 has been raised to a range of $570 million to $580 million, indicating a 12% to 14% growth excluding a nonrecurring Quality Incentive Payment from 2023 [11][49] Business Line Data and Key Metrics Changes - Pharmacy Solutions revenue was $2.1 billion, growing 32% year-over-year, with adjusted EBITDA of $94 million, up 19% [10][20] - Provider Services revenue reached $616 million, an 8% increase year-over-year, with adjusted EBITDA of $86 million, growing 16% [10][29] Market Data and Key Metrics Changes - Home health care average daily census grew 13% year-over-year to 44,246 [27] - The Infusion and Specialty business grew 40% year-over-year, with strong performance in specialty pharmacy [19][21] Company Strategy and Development Direction - The company focuses on delivering coordinated care to complex patient populations in lower-cost settings, emphasizing operational efficiencies and market share growth through acquisitions [12][14] - Recent acquisition plans include Haven Hospice, which is expected to enhance service offerings in Florida [16][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong growth rates for Pharmacy Solutions and Provider Services, with expectations for margin improvement in the second half of the year [54][56] - The company anticipates ongoing operational excellence initiatives to drive efficiency and improve margins [58][59] Other Important Information - The company completed a $100 million all-employee equity grant to reward staff for their contributions [35] - Cash flow from operations was negative $15 million, primarily due to a $90 million payment related to a legacy legal matter, but operational cash flow excluding this payment was $75 million [45][46] Q&A Session Summary Question: Inquiry about Pharmacy Solutions revenue growth - Management confirmed strong growth momentum in Pharmacy Solutions, expecting similar growth rates into the second half of the year [53] Question: Dynamics driving margin improvement - Management highlighted favorable calendar dynamics, lower taxes, and operational initiatives as key factors for expected margin improvement [56][59] Question: Specialty performance and growth drivers - Management noted broad-based growth across service lines, with strong execution in specialty pharmacy driving market share improvement [62][65] Question: Cross-selling efforts within Provider division - Management discussed integrated care opportunities and investments in clinical nursing hubs to enhance cross-selling capabilities [78][80] Question: Future growth in Home Health and Hospice - Management indicated that growth in Home Health and Hospice is largely organic, with a focus on quality care and operational performance [95][96] Question: Acquisition pipeline and M&A strategy - Management confirmed a robust acquisition pipeline, focusing on accretive deals while maintaining a strong balance sheet [102]