Bright Horizons Family Solutions(BFAM)

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Bright Horizons Family Solutions(BFAM) - 2021 Q4 - Annual Report
2022-02-24 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2021 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. (Exact name of registrant as specified in its charter) Delaware 80-0188269 (Stat ...
Bright Horizons Family Solutions(BFAM) - 2021 Q4 - Earnings Call Transcript
2022-02-17 02:03
Bright Horizons Family Solutions Inc. (NYSE:BFAM) Q4 2021 Results Conference Call February 16, 2022 5:00 PM ET Company Participants Michael Flanagan - Senior Director, IR Stephen Kramer - CEO Elizabeth Boland - CFO Conference Call Participants Hamzah Mazari - Jefferies George Tong - Goldman Sachs Jeff Silber - BMO Capital Markets Stephanie Yee - JP Morgan Toni Kaplan - Morgan Stanley Jeff Mueller - Baird Operator Greetings. Welcome to the Bright Horizons Family Solutions Fourth Quarter 2021 Earnings Call. A ...
Bright Horizons Family Solutions(BFAM) - 2021 Q3 - Quarterly Report
2021-11-04 16:00
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, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to 2 Wells Avenue Newton, Massachusetts 02459 (Address of pri ...
Bright Horizons Family Solutions(BFAM) - 2021 Q3 - Earnings Call Transcript
2021-11-03 02:11
Bright Horizons Family Solutions Inc. (NYSE:BFAM) Q3 2021 Earnings Conference Call November 2, 2021 5:00 PM ET Company Participants Michael Flanagan – Director-Investor Relations Stephen Kramer – Chief Executive Officer Elizabeth Boland – Chief Financial Officer Conference Call Participants Andrew Steinerman – JP Morgan Hamzah Mazari – Jefferies Manav Patnaik – Barclays George Tong – Goldman Sachs Gary Bisbee – Bank of America Jeff Silber – BMO Capital Markets Jeff Mueller – Baird Toni Kaplan - Morgan Stanl ...
Bright Horizons Family Solutions(BFAM) - 2021 Q2 - Quarterly Report
2021-08-05 16:00
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 June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to 2 Wells Avenue Newton, Massachusetts 02459 (Address of principa ...
Bright Horizons Family Solutions(BFAM) - 2021 Q2 - Earnings Call Transcript
2021-08-05 06:12
Financial Data and Key Metrics Changes - Revenue increased by 50% to $441 million, adjusted operating income rose by 25% to $34 million, and adjusted net income was $30 million, yielding adjusted EPS of $0.49, up 11% from last year [7][18] - Adjusted EBITDA was $68 million, representing 15% of revenue [18] Business Line Data and Key Metrics Changes - Full-service segment revenue grew by 144% in Q2, reflecting a recovery in early education operations, with 920 out of 1,006 centers open [8][19] - Backup care revenue was $81 million, down 40% year-over-year due to a surge in demand during the early pandemic [13][21] - Educational advisory business reported a 24% revenue growth, driven by new client launches and increased activity levels [15][24] Market Data and Key Metrics Changes - Occupancy levels in open full-service centers averaged between 50% to 60%, with expectations to return to pre-COVID levels by year-end [11][41] - Traditional in-center and in-home backup care usage is progressing towards pre-COVID levels, with solid growth in users and uses [22] Company Strategy and Development Direction - The company is focused on reopening centers and ramping up enrollment to pre-COVID levels, with expectations of 95% of centers open by the end of Q3 [29] - The company is actively seeking acquisition opportunities to expand its market presence and enhance service offerings [68] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about recovery and growth opportunities across all business lines, despite ongoing challenges from COVID-19 [17][31] - Labor inflation and tight labor markets are acknowledged as challenges, but the company is managing costs and pricing effectively [61][64] Other Important Information - The company has resumed its share repurchase program, acquiring $70 million of its shares in Q2 [28] - Interest expense was $9.6 million, consistent with the prior year, and the structural tax rate on adjusted net income was 21% [26] Q&A Session Summary Question: Inquiry about the economics of acquired services - Management explained that the economics of backup care services are based on usage, and the goal is to broaden service relevance to a larger employee population [34] Question: Clarification on educational advisory growth - Management indicated that mid-teens revenue growth is expected, with some headwinds on margins due to ramping the Sittercity business [38] Question: Occupancy rate expectations - Management confirmed that occupancy rates are expected to improve, with a goal of reaching near pre-COVID levels by year-end [41] Question: Addressable market for backup care - Management highlighted a significant opportunity in backup care, noting that the addressable market is larger than onsite childcare services [45] Question: Impact of Delta variant on return-to-office plans - Management noted that while some companies may delay return dates, there is a strong intent among employers to bring employees back to the office [60] Question: Labor inflation and hiring challenges - Management acknowledged labor inflation and a constrained labor pool, but emphasized their ability to price ahead of these challenges [61][64] Question: Center closures and new growth - Management clarified that the closure of centers was a location-by-location decision, with plans for most to reopen [77] Question: Future revenue recovery - Management expects full-service revenues to return to pre-COVID levels in early 2022, contingent on enrollment concentration and tuition levels [52]
Bright Horizons Family Solutions(BFAM) - 2021 Q1 - Quarterly Report
2021-05-09 16:00
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 March 31, 2021 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(BFAM) - 2021 Q1 - Earnings Call Transcript
2021-05-08 23:31
Bright Horizons Family Solutions Inc. (NYSE:BFAM) Q1 2021 Results Conference Call May 5, 2021 5:00 PM ET Company Participants Michael Flanagan - Senior Director, IR Stephen Kramer - CEO, President & Director Elizabeth Boland - CFO & Treasurer Conference Call Participants Manav Patnaik - Barclays Keen Fai Tong - Goldman Sachs Hamzah Mazari - Jefferies Gary Bisbee - Bank of America Securities Jeff Silber - BMO Capital Markets Toni Kaplan - Morgan Stanley Operator Good day, ladies and gentlemen, and welcome to ...
Bright Horizons Family Solutions(BFAM) - 2020 Q4 - Annual Report
2021-02-28 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2020 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. (Exact name of registrant as specified in its charter) Delaware 80-0188269 (Stat ...
Bright Horizons Family Solutions(BFAM) - 2020 Q4 - Earnings Call Transcript
2021-02-18 03:01
Bright Horizons Family Solutions, Inc. (NYSE:BFAM) Q4 2020 Earnings Conference Call February 17, 2021 5:00 PM ET Company Participants Michael Flanagan - Senior Director, IR Stephen Kramer - CEO, President & Director Elizabeth Boland - CFO & Treasurer Conference Call Participants George Tong - Goldman Sachs Group Manav Patnaik - Barclays Bank Andrew Steinerman - JPMorgan Chase & Co. Toni Kaplan - Morgan Stanley Mario Cortellacci - Jefferies Gary Bisbee - Bank of America Merrill Lynch Jeff Silber - BMO Capita ...