Bright Horizons Family Solutions Earnings: Here’s Why Investors are Excited Now
Bright Horizons Family Solutions Inc (NYSE:BFAM) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.11%.
Bright Horizons Family Solutions Inc Earnings Cheat Sheet
Revenue: Rose 55.63% to $311 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Bright Horizons Family Solutions Inc reported adjusted EPS income of $0.35 per share. By that measure, the company beat the mean analyst estimate of $0.32. It beat the average revenue estimate of $305.88 million.
Quoting Management: “We are pleased with our results this past quarter and through the first half of the year,” said David Lissy, Chief Executive Officer. “We continue to execute on our plan to grow organically as well as through strategic acquisitions that enhance our leadership in our field. Our full suite of solutions, including full service centers, 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 life across key life stages. In April, we continued to expand our footprint in the UK with the addition of Kidsunlimited and, in July, we announced the completion of our acquisition of Children’s Choice, the third largest provider in the US employer-sponsored child care market. Both of these additions have allowed us to expand our center footprint and add new employer client relationships, as well as to add talented professionals to our team in the US and in the UK.”
Key Stats (on next page)…
Revenue increased 11.02% from $280.12 million in the previous quarter. EPS increased 40% from $0.25 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.28 and has not changed. For the current year, the average estimate has moved down from a profit of $1.15 to a profit of $1.14 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)