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Dec 31, 2021
Bright Horizons Q4 2021 Earnings Report
Bright Horizons reported solid fourth quarter and overall financial performance for 2021.
Key Takeaways
Bright Horizons Family Solutions reported a revenue of $463 million, an increase of 23% compared to Q4 2020. Net income increased by $15 million to $18 million, with diluted earnings per common share rising to $0.29. Adjusted EBITDA increased by 49% to $79 million, and adjusted income from operations increased by 152% to $46 million.
Revenue increased by 23% to $463 million due to enrollment gains and expanded back-up care services.
Income from operations increased to $35 million compared to $7.9 million in Q4 2020, reflecting improved gross profit in the full service center-based child care segment.
Net income rose to $18 million, an increase of $15 million compared to the same period in 2020.
Adjusted EBITDA increased by 49% to $79 million, driven by the increase in gross profit in the full service center-based child care segment.
Revenue by Segment
Forward Guidance
Bright Horizons expects fiscal year 2022 revenue to be in the range of $2.05 billion to $2.15 billion, and diluted adjusted earnings per common share in the range of $3.20 to $3.40.
Positive Outlook
- Focused on strategic priorities to deliver high-quality education
- Focused on care and workforce services
- Revenue expected to be in the range of $2.05 billion to $2.15 billion
- Diluted adjusted earnings per common share in the range of $3.20 to $3.40
- Company will provide additional information on its outlook during its earnings conference call
Challenges Ahead
- Ongoing effects of the COVID-19 pandemic continue to affect global operations
- Prolonged disruptions to operations as a result of the ongoing COVID-19 pandemic
- Changes in the demand for child care, dependent care and other workplace solutions
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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