Bright Horizons Q1 revenue +20% to $554M; net income down 58%; reaffirms FY23 guidance

BRIGHT HORIZONS FAMILY SOLUTIONS INC.

2023-Q1 EPS reported $0.14 revenue$553,606,000

Revenue $554M (+20% YoY); net income $8M ($0.14 diluted EPS) down 58% from $19.4M.
Adjusted EBITDA $70M (+11%); adjusted EPS $0.49 (+4% YoY).
FY2023 revenue guidance reaffirmed at $2.3-$2.4B; adjusted EPS guidance $2.80-$3.00.
Operated 1,076 early education centers as of Mar 31; 75 Australia centers acquired in July 2022 contributed.
Generated $67M cash from ops, spent $18M capex; recorded $6M one-time VAT expense in Q1.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BRIGHT HORIZONS FAMILY SOLUTIONS INC. reported the fiscal quarter ended March 31, 2023 results: revenue $554 million, net income $8.1 million, EPS $0.14 per diluted share. Guidance reaffirmed.

Period: the fiscal quarter ended March 31, 2023
Revenue: $554 million
Net income: $8.1 million
EPS: $0.14 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

financial results for the first quarter of 2023 and reaffirmed financial guidance for 2023. First Quarter 2023 Highlights (compared to First Quarter 2022): • Revenue of $554 million (increase of 20%) • Income from operations of $31 million (decrease of 2%) • Net income of $8 million and diluted earnings per common share of $0.14 (decreases of 58%) Non-GAAP

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accession 0001437578-23-000007

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