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Sep 30, 2021
Bright Horizons Q3 2021 Earnings Report
Bright Horizons' financial performance demonstrated resilience with revenue increase and improved profitability.
Key Takeaways
Bright Horizons reported a strong third quarter with a 36% increase in revenue to $460 million, driven by enrollment increases and re-opening of child care centers. Net income significantly improved to $27 million, and diluted earnings per share reached $0.44.
Revenue increased by 36% to $460 million compared to Q3 2020.
Income from operations increased to $46 million from a loss of $5.9 million in the same period last year.
Net income was $27 million, a significant increase from a loss of $6.7 million in Q3 2020.
Diluted earnings per common share increased to $0.44, up from a diluted loss per share of $0.11 in Q3 2020.
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
Due to the broad effects of COVID-19, its duration and the scope of ongoing and related disruptions, cannot be predicted and the negative financial impact to our results and future financial performance cannot be reasonably estimated. Therefore, we are not at this time and do not currently expect to provide full earnings guidance for the remainder of fiscal 2021.
Positive Outlook
- Confident in our business model
- Confident in the strength of our client partnerships
- Confident in the strength of our balance sheet
- Confident in our liquidity position
- Confident in our ability to continue to respond to changing market conditions
Challenges Ahead
- COVID-19 pandemic has substantially disrupted our global operations
- Remain focused on the ramping of our centers
- Phased re-opening of the limited number of centers that remain temporarily closed
- The broad effects of COVID-19, its duration and the scope of ongoing and related disruptions, cannot be predicted
- The negative financial impact to our results and future financial performance cannot be reasonably estimated
Revenue & Expenses
Visualization of income flow from segment revenue to net income