BrightSpring Health Services(BTSG) - 2024 Q4 - Annual Results

Financial Performance - Fourth quarter net revenue reached $3,053 million, a 28.6$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$8,826 million in 2023[6] - Full year Adjusted EBITDA for 2024 was $588 million, a 9.3$538 million in 2023[7] - Pharmacy Solutions revenue for 2024 was $8,754 million, a 34$6,522 million in 2023[8] - Provider Services revenue for 2024 was $2,512 million, a 9$2,304 million in 2023[8] - Total revenues for the year ended December 31, 2024, increased to $11,266,472, up 27.8$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$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$588,075 thousand, compared to $537,808 thousand in 2023, indicating a growth of about 9.3$11,600 million and $12,100 million, reflecting a growth of 15.2$545 million and $560 million, indicating an 18.4$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]