BrightSpring Health Services, Inc. Common Stock Earnings Recaps
Q2 2026
Aug 4, 2026
BrightSpring’s shares declined sharply by 17% following the report, primarily reflecting investor disappointment with the cautious outlook and impact from exit of certain skilled nursing customers, which weighed on segment growth and margin outlook.
Key takeaways
- Total revenue grew 23% year-over-year to $3.9 billion, with adjusted EBITDA up 44% to $206 million.
- Pharmacy Solutions revenue increased 22% to $3.4 billion, driven by strong branded oncology LDD portfolio and specialty scripts up 31%, but generic script contribution tempered.
- Home and Community Pharmacy segment was negatively affected by the exit of skilled nursing customers, impacting volume and revenue despite improved profitability from operational efficiencies.
- Provider Services revenue rose 30% to $466 million with adjusted EBITDA up 33%, fueled by Home Health care volume growth, acquisitions, and strong quality metrics, yet integration risks remain.
- Management highlighted opportunities ahead but took a cautious tone on growth and margins, contributing to negative investor reaction.
Q1 2026
May 4, 2026
The stock rallied 11.6% following the quarter, driven by robust revenue growth and margin expansion that surpassed investor expectations, signaling strong operational execution and favorable mix dynamics.
Key takeaways
- Total revenue grew 26% year-over-year to $3.6 billion, with Pharmacy Solutions and Provider Services up 25% and 28%, respectively.
- Adjusted EBITDA increased 45% to $190 million, with margins expanding by 70 basis points to 5.3%, primarily due to mix improvements and operational efficiencies.
- Operating cash flow reached $123 million, excluding proceeds from the recent Community Living divestiture.
- Leverage improved significantly to 2.27x from 2.99x, supported by $811 million in cash proceeds from the divestiture used for debt reduction.
- High service quality metrics sustained, including over 91% of Home Health branches rated 4 stars or greater and top-tier hospice program rankings.
Q3 2025
Oct 29, 2025
BrightSpring Health Services delivered strong third-quarter results, with revenue growth of 28% and adjusted EBITDA up 37% year-over-year, driven by robust performance in its Pharmacy Solutions segment.
Key takeaways
- Total revenue reached $3.3 billion, with Pharmacy Solutions revenue growing 31% year-over-year to $3.0 billion.
- Adjusted EBITDA amounted to $160 million, reflecting an EBITDA margin expansion of 30 basis points to 4.8%.
- Cash flow from operations exceeded $100 million, with leverage reduced to 3.3x, exceeding prior expectations.
- Full-year adjusted EBITDA guidance increased to a range of $605 million to $615 million, up from previous forecasts.
- Quality and patient satisfaction scores remained high across service lines, supporting continued operational execution and growth.