Bright Horizons Family Solutions Inc. (BFAM), a leading provider of child care and early education services, announced its fourth-quarter earnings on Thursday, reporting a profit of $21.7 million. The company’s earnings amounted to 38 cents per share, while adjusted earnings, accounting for one-time gains and costs, reached $1.15 per share. This performance exceeded Wall Street analysts’ expectations, as the consensus estimate was $1.13 per share.
In terms of revenue, Bright Horizons generated $733.7 million during the quarter, again surpassing the anticipated figure of $728.7 million based on the three analysts polled by Zacks Investment Research. For the entire fiscal year, the company reported a total profit of $193.1 million, equating to $3.36 per share, with overall revenue reaching $2.93 billion.
Looking ahead, Bright Horizons provided guidance for the upcoming year, projecting full-year earnings to fall between $4.90 and $5.10 per share, with expected revenue ranging from $3.08 billion to $3.13 billion.
Despite the positive earnings report, Bright Horizons’ stock has faced challenges this year, with shares declining 19% since January. In the last minutes of trading on Thursday, shares were priced at $81.83, reflecting a 31% decrease over the past year.
The results highlight Bright Horizons’ strong performance amid a challenging market and suggest a resilient outlook as the company aims to navigate through current economic conditions. As families continue to seek quality early education options, Bright Horizons remains positioned to serve their needs effectively.