Option Care Health Q2 2023 Earnings Report
Key Takeaways
Option Care Health reported a strong second quarter in 2023, with a 9.0% increase in net revenue to $1,069.1 million and a significant 237.2% rise in net income to $114.4 million. The company's adjusted EBITDA also saw a substantial increase of 29.2%, reaching $110.1 million. Despite terminating the Merger Agreement with Amedisys, Inc. and receiving a termination fee, the company remains confident in its growth trajectory for the remainder of the year.
Net revenue increased by 9.0% to $1,069.1 million compared to Q2 2022.
Gross profit rose by 15.6% to $250.8 million, representing 23.5% of net revenue.
Net income surged by 237.2% to $114.4 million, with basic earnings per share at $0.64.
Adjusted EBITDA increased by 29.2% to $110.1 million.
Option Care Health
Option Care Health
Forward Guidance
Option Care Health provides financial guidance for the full year 2023, including net revenue between $4.2 billion and $4.3 billion, adjusted EBITDA between $415 million and $425 million, and cash flow from operations of at least $350 million.
Positive Outlook
- Net Revenue of $4.2 billion to $4.3 billion
- Adjusted EBITDA of $415 million to $425 million
- Cash Flow from Operations of at least $350 million
- Effective tax rate of 27% to 29%
- Net interest expense of approximately $55.0 million to $59.0 million