Bright Horizons Family Solutions (NYSE:BFAM) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Bright Horizons Family Solutions Earnings Cheat Sheet
Revenue: Rose 40.17% to $280.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Bright Horizons Family Solutions missed the average revenue estimate of $1.18 billion.
Quoting Management: “We are pleased with our results this past quarter and with our start to the year,” said David Lissy, Chief Executive Officer. “We delivered strong organic growth, including 11 new center openings, and continued our track record of margin improvement. Our full suite of solutions, including back-up care and educational advisory services, continues to allow us to expand our relationships with the clients we serve and to help working families better integrate the challenges of work and home across all key life stages. In April, we were also very pleased to continue our track record of adding value through strategic acquisitions with the addition of Kidsunlimited in the UK. The acquisition adds 64 new centers to our network and solidifies our leadership position in the UK market. I am very proud of our talented team of professionals around the world who deliver on our mission every day to make a difference in the lives of the children, families, students, and clients we have the privilege to serve.”
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