Q2 2024 Bright Horizons Family Solutions Inc Earnings Call Transcript
Key Points
- Revenue increased by 11% to $670 million in Q2 2024.
- Adjusted EBITDA grew by 25% to $103 million.
- Adjusted EPS increased by 38% to $0.88 per share.
- Full-service childcare segment saw a revenue increase of 11% to $507 million.
- Back-up care segment delivered strong performance with a 15% revenue growth to $136 million.
- Closed 19 centers in Q2 2024, indicating potential operational challenges.
- UK full-service business continues to be a headwind to overall profitability.
- Interest expense increased to $12 million due to higher net rates on outstanding debt.
- Educational advisory segment's growth remains challenging with only a 2.5% increase in revenue.
- Full-service segment's occupancy levels are still in the mid-60s, indicating room for improvement.
Greetings and welcome to Bright Horizons Family Solutions second quarter 2024 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded and it is now my pleasure to introduce your host, Mr. Michael Flanagan, Vice President, Investor Relations. Thank you, Mr. Flanagan, you may begin.
Thank you, Ranju, and welcome to Bright Horizons' second quarter earnings call. Before we begin, please note that today's call is being webcast and a recording will be available under the Investor Relations section of our website, Brighthorizons.com. As a reminder to participants, any forward-looking statements made on this call, including those regarding future business, financial performance, and outlook are subject to the Safe Harbor statement included in our earnings release.
Forward-looking statements inherently involve risks and uncertainties that may cause actual operating and financial results to differ materially and should be
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
