Option Care Health Announces Financial Results for The Second Quarter Ended June 30, 2024

Core Insights - Option Care Health reported a net revenue of $1,227.2 million for Q2 2024, representing a 14.8% increase from $1,069.1 million in Q2 2023 [11] - The company experienced a net income of $53.0 million, or $0.30 diluted earnings per share, which is a 53.6% decrease compared to $114.4 million, or $0.63 diluted earnings per share, in the same quarter last year [11] - Adjusted EBITDA for Q2 2024 was $108.4 million, down 1.5% from $110.1 million in Q2 2023 [11] Financial Performance - Gross profit for Q2 2024 was $249.4 million, accounting for 20.3% of net revenue, slightly down from $250.8 million, or 23.5% of net revenue, in Q2 2023 [11] - Cash flow from operations increased to $195.7 million from $169.5 million in Q2 2023 [11] - The company repurchased approximately $78.1 million of stock during the quarter [11] Balance Sheet Highlights - Total assets as of June 30, 2024, were $3,348.6 million, up from $3,217.0 million at the end of 2023 [8] - Current assets increased to $1,227.4 million from $1,094.3 million at the end of 2023 [8] - Total liabilities rose to $1,937.2 million from $1,795.4 million at the end of 2023 [8] Guidance for Full Year 2024 - The company expects net revenue to be between $4.75 billion and $4.85 billion [23] - Adjusted EBITDA is projected to be between $435 million and $450 million [23] - Cash flow from operations is anticipated to be at least $300 million, consistent with previous guidance [23]