Financial Performance - Fourth quarter net revenue reached $3,053 million, a 28.6% increase from $2,375 million in Q4 2023[4] - Fourth quarter net income was $15.4 million, compared to a net loss of $7.2 million in Q4 2023[5] - Full year net revenue for 2024 was $11,266 million, up 27.6% from $8,826 million in 2023[6] - Full year Adjusted EBITDA for 2024 was $588 million, a 9.3% increase from $538 million in 2023[7] - Pharmacy Solutions revenue for 2024 was $8,754 million, a 34% increase from $6,522 million in 2023[8] - Provider Services revenue for 2024 was $2,512 million, a 9% increase from $2,304 million in 2023[8] - Total revenues for the year ended December 31, 2024, increased to $11,266,472, up 27.8% from $8,826,175 in 2023[30] - Gross profit for the year ended December 31, 2024, was $1,588,435, representing a gross margin of 14.1% compared to 16.2% in 2023[30] - Net income attributable to BrightSpring Health Services, Inc. for the year ended December 31, 2024, was a loss of $18,062, improving from a loss of $154,603 in 2023[30] - Basic net income per share for the year ended December 31, 2024, was $0.09, compared to a loss of $1.31 per share in 2023[30] - EBITDA for the year ended December 31, 2024, was $398,130 thousand, up from $349,516 thousand in 2023, reflecting a year-over-year increase of approximately 13.9%[33] - Adjusted EBITDA for the year ended December 31, 2024, reached $588,075 thousand, compared to $537,808 thousand in 2023, indicating a growth of about 9.3%[33] Guidance and Future Outlook - 2025 revenue guidance is set between $11,600 million and $12,100 million, reflecting a growth of 15.2% to 20.1% over 2024[9] - Adjusted EBITDA guidance for 2025 is projected between $545 million and $560 million, indicating an 18.4% to 21.7% growth over 2024[15] Divestiture and Strategic Moves - The company announced a divestiture of the Community Living business to Sevita for $835 million[5] - The company expects the divestiture to enhance capital flexibility and growth rates moving forward[3] Cash Flow and Financial Position - Cash and cash equivalents increased significantly to $61,253 as of December 31, 2024, compared to $13,071 in 2023[28] - Total assets grew to $5,926,140 as of December 31, 2024, up from $5,532,721 in 2023[28] - Long-term debt decreased to $2,561,858 as of December 31, 2024, from $3,331,941 in 2023, indicating improved financial leverage[28] - Total current liabilities increased to $1,428,333 as of December 31, 2024, from $1,248,437 in 2023, indicating a rise in short-term obligations[28] - The company reported an operating income of $206,374 for the year ended December 31, 2024, compared to $147,180 in 2023, reflecting operational efficiency[30] - The cash provided by operating activities for the three months ended December 31, 2024, was $90,612 thousand, down from $162,400 thousand in the same period of 2023[32] - The net cash used in investing activities for the year ended December 31, 2024, was $(140,237) thousand, compared to $(134,433) thousand in 2023, indicating an increase in cash outflow[32] Interest and Credit Losses - The company incurred $54,866 thousand in interest expense for the three months ended December 31, 2024, compared to $83,054 thousand in the same period of 2023, reflecting a decrease of approximately 34.0%[33] - The company reported a provision for credit losses of $12,102 thousand for the three months ended December 31, 2024, compared to $4,310 thousand in the same period of 2023, representing a significant increase[32] Goodwill and Adjustments - The company’s goodwill increased to $2,671,524 as of December 31, 2024, from $2,608,412 in 2023, reflecting potential acquisitions or asset appreciation[28] - Total adjustments to EBITDA for the year ended December 31, 2024, amounted to $189,945 thousand, compared to $188,292 thousand in 2023, showing a slight increase[33] - The company reported a diluted EPS of $0.08 for the three months ended December 31, 2024, compared to a diluted loss per share of $(0.06) in the same period of 2023[36]

Core Insights - BrightSpring Health Services reported strong financial performance for Q4 and full year 2024, with significant revenue growth and improved profitability metrics [4][5][10] - The company anticipates a streamlined organization and enhanced growth rates following the divestiture of its Community Living business [3][5] Financial Highlights - Q4 2024 net revenue reached $3,053 million, a 28.6% increase from $2,375 million in Q4 2023 [4][6] - Q4 2024 gross profit was $422 million, up 14.4% from $369 million in Q4 2023 [4][6] - Q4 2024 net income was $15.4 million, compared to a net loss of $7.2 million in Q4 2023 [4][6] - Full year 2024 net revenue totaled $11,266 million, a 27.6% increase from $8,826 million in 2023 [5][6] - Full year 2024 gross profit was $1,588 million, up 10.8% from $1,434 million in 2023 [5][6] - Full year 2024 Adjusted EBITDA was $588 million, a 9.3% increase from $538 million in 2023 [5][6] Segment Performance - Pharmacy Solutions segment revenue for Q4 2024 was $2,397 million, a 34% increase from $1,785 million in Q4 2023 [6] - Provider Services segment revenue for Q4 2024 was $656 million, an 11% increase from $589 million in Q4 2023 [6] - Full year 2024 Pharmacy Solutions revenue was $8,754 million, a 34% increase from $6,522 million in 2023 [6] - Full year 2024 Provider Services revenue was $2,512 million, a 9% increase from $2,304 million in 2023 [6] Guidance and Future Outlook - For 2025, the company increased its revenue guidance to $11,600 – $12,100 million, reflecting a growth of 15.2% to 20.1% over 2024 [5][10] - Adjusted EBITDA guidance for 2025 is set at $545 – $560 million, indicating an 18.4% to 21.7% growth over 2024 [10]

Core Viewpoint - BrightSpring Health Services has announced the promotion of Jennifer Phipps to Chief Financial Officer, effective March 4, 2025, succeeding Jim Mattingly [1][4]. Company Overview - BrightSpring Health Services is a leading provider of home and community-based pharmacy and health services for complex populations, serving over 450,000 customers daily across all 50 states [5]. Leadership Transition - Jennifer Phipps has been with BrightSpring for eight years, previously serving as Chief Accounting Officer and Principal Accounting Officer, and has played a significant role in financial processes and improvements [2][4]. - Jim Mattingly, the outgoing CFO, has contributed to the company's growth and success during his tenure [4]. Jennifer Phipps' Qualifications - Phipps brings over 20 years of financial and accounting experience in the healthcare services industry, having held leadership roles at Cardinal Health and Ernst & Young [3]. - She holds an active Certified Public Accountant license and has degrees in Business Administration and Accounting from The Ohio State University [3]. Company Mission and Vision - The company aims to provide high-quality and impactful community-based pharmacy and health solutions to complex populations, with a commitment to enhancing patient care and operational efficiency [4][5].

Core Points - BrightSpring Health Services, Inc. plans to release its fourth quarter and full year 2024 financial results on March 6, 2025, prior to an earnings conference call at 8:30 a.m. ET [1] - The conference call will be accessible via registration and will include a live and archived webcast on the company's investor relations website [2] - BrightSpring Health Services provides integrated home- and community-based pharmacy and health solutions for complex populations, serving over 400,000 customers daily across all 50 states [3]

Group 1: Company Performance - BrightSpring Health Services, Inc. (BTSG) shares increased by 12.6% to close at $20.89, with notable trading volume compared to typical sessions [1] - The company anticipates full year 2024 revenue between $11.2 million and $11.3 million, indicating a growth of 26.9% to 28.0% [2] - Quarterly earnings are expected to be $0.23 per share, reflecting a year-over-year increase of 483.3%, with revenues projected at $2.95 billion, up 24.1% from the previous year [3] Group 2: Market Sentiment and Estimates - The consensus EPS estimate for BrightSpring has remained unchanged over the last 30 days, suggesting that stock price movements may not continue without earnings estimate revisions [4] - BrightSpring Health Services holds a Zacks Rank of 3 (Hold), indicating a neutral outlook [4] - In comparison, Premier, Inc. (PINC), another company in the same industry, has a Zacks Rank of 2 (Buy) and reported a 1.5% decline in its last trading session [4][5]

Core Insights - BrightSpring Health Services Inc (BTSG) has agreed to sell its Community Living business, ResCare Community Living, to Sevita for $835 million in cash, with the deal expected to close in 2025 [1] - The divestiture aligns with BrightSpring's strategic focus on enhancing core services such as home health, hospice, primary care, rehabilitation, and pharmacy solutions [1] - The company anticipates operational efficiencies and stronger revenue growth in its Provider Services portfolio post-sale, supported by an optimized payer mix and focus on high-demand growth markets [2][3] Financial Performance - The Community Living business generated approximately $1.2 billion in revenue and $128 million in adjusted EBITDA in 2024, serving 14,000 clients with 13,500 employees [3] - BrightSpring expects after-tax proceeds of $715 million from the sale, primarily allocated toward debt reduction, improving its financial position [3] - Preliminary 2024 sales are projected to be between $11.2 billion and $11.3 billion, reflecting a year-over-year increase of 26.9% to 28.0% [4] - For 2025, sales are expected to be between $11.5 billion and $12 billion [5] Segment Revenue Expectations - Pharmacy Segment Revenue is anticipated to be between $8.7 billion and $8.75 billion, while Provider Segment Revenue is expected to be between $2.5 billion and $2.55 billion [8] - Adjusted EBITDA for 2024 is expected to be approximately $588 million, with Community Living Adjusted EBITDA around $128 million [8] - Future Pharmacy Segment Revenue is projected to be between $10.05 billion and $10.5 billion, and Provider Segment Revenue between $1.45 billion and $1.5 billion [8] Stock Performance - BTSG stock has increased by 13.6%, reaching $21.08 at the last check [6]

Transaction Overview - BrightSpring Health Services has entered into a definitive agreement to divest its Community Living business, ResCare Community Living, to Sevita for $835 million in cash consideration [1] - The transaction is expected to close in 2025, subject to regulatory approvals and typical closing conditions [1] - The divested Community Living business is expected to generate approximately $1.2 billion in Revenue and $128 million of Adjusted EBITDA in 2024 [8] Post-Divestiture Business Focus - Following the divestiture, BrightSpring's Provider Services will focus on Home Health and Hospice, Personal Care, Rehabilitation Services, and Primary Care [2] - The streamlined service offerings are expected to result in increased strategic focus, operational efficiencies, and greater clinical integration across the Provider Services and Pharmacy Solutions segments [4] - The transaction is expected to be accretive to both Company and Provider Services Revenue growth and Adjusted EBITDA growth [2] Financial Impact and Use of Proceeds - BrightSpring expects to realize approximately $715 million of after-tax cash proceeds from the transaction [9] - The net proceeds will primarily be used for debt paydown, strengthening the Company's balance sheet and reducing interest expense [9] - The divestiture is expected to increase Company Revenue and EBITDA Growth Rates and Cash Conversion, as well as Provider Services Revenue and EBITDA Growth Rates and Margin [7] Preliminary 2024 Results and 2025 Guidance - BrightSpring expects to report full year 2024 financial results above the guidance previously provided, with Net Revenue of $11,200 million to $11,300 million and Adjusted EBITDA of approximately $588 million [16] - For 2025, the Company is initiating guidance excluding the Community Living business, with Net Revenue expected to be $11,500 million to $12,000 million and Adjusted EBITDA expected to be $540 million to $555 million [17] Strategic Rationale - The divestiture allows BrightSpring to focus on a concentrated group of customers, patients, and stakeholders, maximizing exposure to target growth markets such as home health, rehab, primary care, hospice, and specialty and home and community pharmacy [4] - The transaction accelerates the Company's deleveraging path towards the long-term target of less than 3.0x [4] Industry and Company Background - BrightSpring Health Services is a leading provider of home and community-based pharmacy and health services for complex populations, serving over 400,000 customers, clients, and patients daily [19] - Sevita, the acquirer, has over 50 years of experience in providing home and community-based care for individuals with intellectual and developmental disabilities, serving 50,000 individuals in 40 states [20]

The Medical Services sector is experiencing significant transformation fueled by advancements in technology, increased adoption of value-based care and heightened focus on patient-centric solutions. Growing demand for remote treatment has led to a tremendous upsurge in digital healthcare options over the past few years. Demand for digital healthcare treatment continues to grow in the form of telemedicine-focused online medical and AI-powered technology services backed by the adoption of data and analytics. ...

LOUISVILLE, Ky., Dec. 11, 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, completed the successful refinancing of all of its $2.55 billion Term Loan B facility due February 2031, through its subsidiary Phoenix Guarantor Inc. BrightSpring incurred no additional indebtedness as a result of the transaction. The Company’s refinanced facility was repriced at SOFR + ...

LOUISVILLE, Ky., Nov. 26, 2024 (GLOBE NEWSWIRE) -- BrightSpring Health Services (“BrightSpring” or “BrightSpring Health Services”) (NASDAQ: BTSG) is proud of its specialty pharmacy partner, Onco360®, for being selected as the national pharmacy partner for multiple medications approved to treat advanced cancers and blood disease. “Our partner Onco360 is rapidly bringing innovative medicines and treatments to market to help improve the lives of patients living with once untreatable, rare diseases,” said Brigh ...