Bright Horizons ( (BFAM) ) has released its Q3 earnings. Here is a breakdown of the information Bright Horizons presented to its investors.
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Bright Horizons Family Solutions Inc. is a global leader in providing early education and child care, back-up care, and workforce education services, collaborating with employers to support their employees’ personal and professional success.
In its third-quarter earnings report for 2024, Bright Horizons showcased impressive financial growth with significant increases in revenue and net income. The company reported a revenue of $719 million, marking an 11% increase from the previous year, alongside a substantial rise in net income, reflecting strong operational performance.
Key highlights from the report include a 34% rise in income from operations, amounting to $89 million, and a 37% increase in net income, reaching $55 million. The company also saw a 20% growth in adjusted EBITDA, reaching $121 million. The Full Service segment experienced a 9% revenue increase, while the Back-Up Care segment reported an 18% growth, attributed to higher service utilization.
Looking forward, Bright Horizons anticipates continued growth with projected fiscal year 2024 revenue of approximately $2.675 billion. The company remains committed to expanding its services and supporting families and employers, despite economic uncertainties and operational challenges.
