Financial Data and Key Metrics Changes - For the full year 2023, the company reported revenue of $2.4 billion, representing a growth of 20% compared to 2022, with adjusted earnings per share (EPS) of $2.84, an increase of 9% [6][21] - In Q4, total revenue increased 16% to $616 million, yielding adjusted EBITDA of $99 million and adjusted EPS of $0.83, an increase of 8% from the prior year [21][48] - Interest expense increased by $2 million to $13 million in Q4, and the structural tax rate on adjusted net income rose to 28.3%, an increase of 200 basis points over Q4 of 2022 [13] Business Line Data and Key Metrics Changes - Full Service revenue for Q4 was $447 million, up 15%, driven by increased enrollment and pricing, with occupancy levels averaging 58% to 60% [6][26] - Back-Up Care revenue grew 24% in Q4 to $135 million, with adjusted operating income at 30% of revenue, or $41 million, growing 25% over the prior year [28][45] - The education advisory segment reported revenue of $34 million in Q4, with notable new client launches [46][51] Market Data and Key Metrics Changes - U.S. enrollment increased by 10% in Q4, while international enrollment grew in the mid-single digits [44] - In the U.K., the Full Service business has been unprofitable, losing approximately $30 million in adjusted operating income in 2023, but improvements are expected in 2024 [12][44] Company Strategy and Development Direction - The company is rationalizing its U.K. footprint, having closed 12 centers in 2023 and identifying an additional 20 to 30 centers for closure over the next 12 to 18 months [27][60] - The focus is on expanding Back-Up Care as a structurally larger contributor to future earnings, with significant growth opportunities anticipated [8][23] Management's Comments on Operating Environment and Future Outlook - Management noted that the effects of the end of ARPA funding would unfold over 2024 and into 2025, with competitors adjusting pricing and staffing in response [34][58] - For 2024, the company expects revenue to be between $2.6 billion and $2.7 billion, translating to growth of 8% to 12% [30][47] Other Important Information - The company generated $256 million in cash from operations in 2023, compared to $188 million in 2022, and ended the year with $72 million in cash [29] - A minor change in segment reporting will impact growth comparisons in the education advisory and Back-Up Care segments starting Q1 2024 [52] Q&A Session Summary Question: What are the effects of the end of ARPA funding on the industry? - Management indicated that the effects would transpire over 2024 and into 2025, with competitors adjusting pricing and staffing [34][58] Question: What is the expected center count by year-end 2024? - The company expects to close a similar number of centers as in 2023, resulting in a net reduction of approximately 25 centers [35][60] Question: What occupancy rates are assumed in the guidance for 2024? - The company anticipates occupancy rates to average between 60% to 65% for the year, with a seasonal cadence [83] Question: How sustainable is the double-digit growth rate for Back-Up Care? - Management sees the opportunity to continue driving 10% to 12% growth over many years, primarily through expanding user penetration and usage [92] Question: Can you elaborate on the $36 million impairment? - The impairment relates to centers and includes right-of-use assets and leasehold improvements for underperforming centers [72][73]

For the quarter ended December 2023, Bright Horizons Family Solutions (BFAM) reported revenue of $615.65 million, up 16.3% over the same period last year. EPS came in at $0.83, compared to $0.77 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $588.63 million, representing a surprise of +4.59%. The company delivered an EPS surprise of +13.70%, with the consensus EPS estimate being $0.73.While investors closely watch year-over-year changes in headline numbers -- revenu ...

Bright Horizons Family Solutions (BFAM) came out with quarterly earnings of $0.83 per share, beating the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.77 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 13.70%. A quarter ago, it was expected that this child care and early education services provider would post earnings of $0.80 per share when it actually produced earnings of $0.88, delivering a su ...

Analysts on Wall Street project that Bright Horizons Family Solutions (BFAM) will announce quarterly earnings of $0.73 per share in its forthcoming report, representing a decline of 5.2% year over year. Revenues are projected to reach $588.63 million, increasing 11.2% from the same quarter last year.Over the last 30 days, there has been a downward revision of 0.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of ...

Investors with an interest in Schools stocks have likely encountered both Universal Technical Institute (UTI) and Bright Horizons Family Solutions (BFAM) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style S ...

NEWTON, Mass.--(BUSINESS WIRE)--Bright Horizons Family Solutions® Inc. (NYSE: BFAM) will release results for the quarter ended December 31, 2023 on Tuesday, February 13, 2024, after the stock market closes. Following the release, the Company will host a telephone conference call with investors and analysts at 5:00 p.m. ET to discuss the fourth quarter 2023, the Company’s updated business outlook, its strategy and results. Interested parties are invited to listen to the conference call by dialing 1-877-407- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________ FORM 10-Q __________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to Commission File Number: 001-35780 ________________________ ...

Bright Horizons Family Solutions Inc. (NYSE:BFAM) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET Company Participants Michael Flanagan - VP, IR Stephen Kramer - CEO Elizabeth Boland - CFO Conference Call Participants Andrew Steinerman - JPMorgan George Tong - Goldman Sachs Jeff Meuler - Baird Manav Patnaik - Barclays Josh Chan - UBS Jeff Silber - BMO Capital Markets Toni Kaplan - Morgan Stanley Harold Antor - Jefferies Operator Good afternoon, ladies and gentlemen. And welcome to Bright Horizo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________ FORM 10-Q __________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. 2 Wells Avenue Newton, Massachusetts 02459 (Address of principal executive offices) (Zip code) Table of Contents For the quarterly period ended J ...

Bright Horizons Family Solutions Inc. (NYSE:BFAM) Q2 2023 Earnings Conference Call August 1, 2023 5:00 PM ET Company Participants Michael Flanagan - Vice President, Investor Relations Stephen Kramer - Chief Executive Officer Elizabeth Boland - Chief Financial Officer Conference Call Participants George Tong - Goldman Sachs Andrew Steinerman - JPMorgan Jeff Meuler - Baird Manav Patnaik - Barclays Stephanie Moore - Jefferies Toni Kaplan - Morgan Stanley Faiza Alwy - Deutsche Bank Josh Chan - UBS Jeff Silber - ...