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Jun 30, 2021
Bright Horizons Q2 2021 Earnings Report
Bright Horizons' financial performance improved in the second quarter of 2021, with revenue and income from operations increasing significantly compared to the same period in 2020.
Key Takeaways
Bright Horizons reported a 50% increase in revenue to $441 million and a 319% increase in income from operations to $34 million in the second quarter of 2021. The company's recovery from the pandemic is on track, with enrollment and back-up usage returning.
Revenue increased by 50% to $441 million.
Income from operations increased by 319% to $34 million.
Net income increased to $19 million, with diluted earnings per share of $0.31.
Adjusted EBITDA increased by 13% to $68 million.
Bright Horizons
Bright Horizons
Bright Horizons Revenue by Segment
Revenue by Segment
Full service center-based child care Revenue
CapyFin.comBack-up care Revenue
CapyFin.comEducational advisory services Revenue
CapyFin.com Forward Guidance
Bright Horizons remains focused on ramping up its centers and re-opening temporarily closed centers throughout 2021, but is not providing full earnings guidance due to the unpredictable effects of COVID-19.
Positive Outlook
- Focused on ramping up centers
- Phased re-opening of temporarily closed centers
- Confident in business model
- Strong client partnerships
- Strong balance sheet and liquidity position
Challenges Ahead
- COVID-19 pandemic has substantially disrupted global operations
- Broad effects of COVID-19 cannot be predicted
- Duration of COVID-19 disruptions cannot be predicted
- Scope of ongoing and related disruptions cannot be predicted
- Negative financial impact to results and future financial performance cannot be reasonably estimated
Revenue & Expenses
Visualization of income flow from segment revenue to net income