Option Care(OPCH) - 2024 Q3 - Quarterly Results

Financial Performance - Net revenue for Q3 2024 was $1,278.5 million, a 17.0% increase from $1,093.0 million in Q3 2023[2] - Gross profit for Q3 2024 was $256.7 million, representing 20.1% of net revenue, compared to $254.3 million or 23.3% of net revenue in Q3 2023[2] - Net income for Q3 2024 was $53.9 million, down 4.3% from $56.3 million in Q3 2023, with diluted earnings per share remaining at $0.31[2] - Adjusted net income for Q3 2024 was $70.7 million, a decrease of 3.2% from $73.1 million in Q3 2023[2] - Adjusted EBITDA for Q3 2024 was $115.6 million, up 5.3% from $109.8 million in Q3 2023[2] - Net income for the nine months ended September 30, 2024, was $151,690,000, a decrease of 27.8% compared to $209,913,000 for the same period in 2023[14] - EBITDA for the nine months ended September 30, 2024, was $286,729,000, down 21.4% from $365,056,000 in the prior year[15] - Adjusted net income for the nine months ended September 30, 2024, was $197,329,000, an increase of 3.7% compared to $190,621,000 for the same period in 2023[15] - The company’s diluted earnings per share for the nine months ended September 30, 2024, was $0.87, down from $1.16 in the same period of 2023[15] - The company’s adjusted earnings per share for the nine months ended September 30, 2024, was $1.14, compared to $1.05 for the same period in 2023, reflecting an increase of 8.6%[15] Cash Flow and Liquidity - Cash flow from operations for Q3 2024 was $160.4 million, significantly higher than $61.0 million in Q3 2023[2] - Cash and cash equivalents at the end of Q3 2024 were $483.0 million, an increase from $343.8 million at the end of 2023[10] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $287,270,000, compared to $320,326,000 in the same period of 2023, reflecting a decrease of 10.3%[14] - Cash and cash equivalents at the end of the period increased to $483,026,000 from $386,489,000, representing a growth of 25.0% year-over-year[14] Investment and Stock Activity - The company repurchased approximately $41.9 million of stock in Q3 2024[2] - The company reported a net cash used in investing activities of $25,266,000 for the nine months ended September 30, 2024, a decrease from $40,725,000 in the prior year[14] Operational Challenges - Supply chain disruptions related to intravenous solution bags are anticipated to negatively impact Q4 2024 financial results[2] - The company experienced a significant increase in accounts payable, which rose to $164,754,000 from $50,726,000, indicating a change in working capital dynamics[14] - The company’s interest expense for the nine months ended September 30, 2024, was $38,150,000, slightly down from $38,816,000 in the previous year[15] Future Outlook - The company expects full year 2024 net revenue to be between $4.9 billion and $4.95 billion[3]