Brightspring Health Services, Inc.(BTSGU) - 2024 Q4 - Annual Results

Financial Performance - Fourth quarter net revenue reached $3,053 million, a 28.6% increase from$ 2,375 million in Q4 2023[4] - Fourth quarter net income was $15.4 million, compared to a net loss of$ 7.2 million in Q4 2023[5] - Full year net revenue for 2024 was $11,266 million, up 27.6% from$ 8,826 million in 2023[6] - Full year Adjusted EBITDA for 2024 was $588 million, a 9.3% increase from$ 538 million in 2023[7] - Total revenues for the year ended December 31, 2024, increased to $11,266,472, up 27.8% from$ 8,826,175 in 2023[30] - The company reported an operating income of $206,374 for the year ended December 31, 2024, compared to$ 147,180 in 2023, marking a 40.2% increase[30] - EBITDA for the year ended December 31, 2024, was $398,130,000, an increase from$ 349,516,000 in 2023, reflecting a growth of approximately 13.9%[33] - Adjusted EBITDA for the three months ended December 31, 2024, was $167,418,000, up from$ 142,599,000 in 2023, representing a year-over-year increase of about 17.4%[33] Revenue Breakdown - Pharmacy Solutions revenue for 2024 was $8,754 million, a 34% increase from$ 6,522 million in 2023[8] - Provider Services revenue for 2024 was $2,512 million, a 9% increase from$ 2,304 million in 2023[8] Guidance and Projections - 2025 revenue guidance is set between $11,600 million and$ 12,100 million, reflecting a growth of 15.2% to 20.1% over 2024[9] - Adjusted EBITDA guidance for 2025 is projected to be between $545 million and$ 560 million, indicating an 18.4% to 21.7% growth over 2024[15] Divestiture and Strategic Moves - The company announced a divestiture of the Community Living business to Sevita for $835 million[5] - The company expects the divestiture to enhance capital flexibility and growth rates moving forward[3] Assets and Liabilities - Cash and cash equivalents increased significantly to$ 61,253 as of December 31, 2024, compared to $13,071 in 2023[28] - Accounts receivable rose to$ 1,028,654, up from $881,627 in 2023, indicating a 16.7% increase[28] - Total assets increased to$ 5,926,140 as of December 31, 2024, compared to $5,532,721 in 2023, reflecting a growth of 7.1%[28] - Long-term debt decreased to$ 2,561,858 as of December 31, 2024, down from $3,331,941 in 2023, a reduction of 23.1%[28] - The company reported a total of$ 2,566,000,000 in long-term debt borrowings for the year ended December 31, 2024, with repayments totaling $(3,396,334,000) during the same period[32] Expenses and Income - Selling, general, and administrative expenses for the year ended December 31, 2024, were$ 1,382,061, an increase from $1,286,614 in 2023[30] - The provision for credit losses increased to$ 33,998,000 for the year ended December 31, 2024, from $23,237,000 in 2023, marking a rise of approximately 46.3%[32] - The company incurred$ 54,866,000 in interest expense for the three months ended December 31, 2024, compared to $83,054,000 in 2023, reflecting a decrease of approximately 34.0%[33] Shareholder Information - The weighted average shares outstanding for basic shares increased to 192,997 for the year ended December 31, 2024, compared to 117,868 in 2023[30] - The company reported a diluted EPS of$ 0.08 for the three months ended December 31, 2024, compared to a diluted EPS of $(0.06) in the same period of 2023[36] Cash Flow - The net cash provided by operating activities for the three months ended December 31, 2024, was$ 90,612,000, a decrease from $162,400,000 in the same period of 2023[32]