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Mar 31, 2024
Bright Horizons Q1 2024 Earnings Report
Bright Horizons' first quarter results for 2024 reflected better-than-expected revenue and earnings, driven by positive momentum across the business.
Key Takeaways
Bright Horizons reported a strong start to 2024, with revenue of $623 million, a 12% increase compared to the first quarter of 2023. Net income increased by 109% to $17 million, and diluted earnings per share rose by 107% to $0.29. The company reaffirmed its financial guidance for 2024.
Revenue increased by 12% to $623 million due to enrollment gains, tuition price increases, and increased utilization of back-up care services.
Income from operations increased by 30% to $39.9 million, driven by incremental gross profit contributions from the full service center-based child care and back-up care segments.
Net income increased by 109% to $17.0 million, with diluted earnings per common share increasing to $0.29.
Adjusted EBITDA increased by 7% to $75.0 million, and adjusted income from operations increased by 9% to $39.9 million.
Revenue by Segment
Forward Guidance
The company expects fiscal year 2024 revenue to be in the range of $2.6 billion to $2.7 billion and diluted adjusted earnings per common share to be in the range of $3.00 to $3.20.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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