Bright Horizons Family Solutions Reports Strong Q2 Earnings with Revenue Growth of 7%
Bright Horizons Family Solutions (NYSE:BFAM) reported second-quarter revenue growth of 7% to $779 million and a 20% increase in adjusted earnings per share to $1.28, surpassing expectations. The company's Back-up Care segment was the primary driver of this performance, with revenue rising by 19% year-over-year to $194 million and operating income increasing by 23%. Management raised its full-year adjusted EPS outlook to between $5.05 and $5.15 while narrowing its total revenue forecast to a range of $3.085 billion to $3.115 billion. Full Service revenue grew by 3%, supported by tuition increases, improved occupancy rates, and favorable foreign exchange effects. However, this growth was partially offset by center closures in Australia and enrollment challenges there. The company repurchased approximately $250 million of shares during the quarter and expects third-quarter revenue to be between $835 million and $845 million with adjusted EPS ranging from $1.73 to $1.78.
Tickers: $BFAM
Topics: adjusted_eps_increase revenue_growth segment_performance share_repurchase