BrightSpring Health Services Inc
BTSG - Insider Information
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+ FollowMarket Cap$13.24B
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Earnings Call Q1 2026
May 1, 2026 - AI Summary
Solid Q1 results + strong profitability/momentum (good):
- Total company revenue: $3.6B, +26% YoY. Pharmacy Solutions: $3.2B (+25%); Provider Services: $442M (+28%).
- Adjusted EBITDA: $190M, +45% YoY; margin 5.3% (+70 bps YoY) driven by mix and operating efficiencies.
- Cash flow from operations: $123M (not including Community Living divestiture fees).
- Quality metrics across providers and pharmacy remained very strong (e.g., Home Health: >91% 4-star+ branches; timely initiation >99%; Hospice: top-5% program and CAPS 87; Pharmacy dispensing accuracy 99.99%; Infusion satisfaction 94%).
IRA/Medicare headwinds are real but tracked to plan (mixed):
- Home & Community Pharmacy revenue declined -9% YoY due to an ~$50M IRA impact in Q1 plus exiting uneconomic customers (both expected).
- Company expects IRA revenue impact ~ $45M per quarter remaining in 2026 (~$175M full-year impact).
- Management stated IRA-related headwinds in other areas were also tracked to prior expectations (notably Home & Community; plus they reiterated full-year magnitude for Specialty/Infusion IRA and branded-to-generic conversions).
Full-year 2026 guidance reiterated/raised with updated range (key forecast):
- Guidance excludes Community Living (divested) and excludes unopened acquisitions.
- Revenue: $14.725B–$15.225B (Pharmacy Solutions $12.85B–$13.3B; Provider Services $1.875B–$1.925B), implying ~14.1%–17.9% YoY growth vs 2025 on the same continuing-ops basis.
- Adjusted EBITDA: $795M–$825M (implies 28.7%–33.6% growth YoY on same basis), including ~$30M EBITDA contribution from Amedisys + LHC assets integration.
- Margin outlook: guided 5.2%–5.6% adjusted EBITDA margin for the year; management expects slight build but largely consistent with Q1.
- Operational cash flow outlook: ~$500M annual operating cash flow for the remainder of 2026 (excluding Community Living cash-flow impact).
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$2.02
97.1% downside
Current Fair Value
97.1% downsideOvervalued by 97.1% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $13.24 Billion |
|---|---|
| Enterprise Value | $12.92 Billion |
| Earnings per Share | $0.94 |
| Beta | 1.88 |
| Outstanding Shares | 207,022,000 |
Return
| Return on Equity | 20.03% |
|---|---|
| Return on Assets | 6.85% |
| Return on Invested Capital | 11.70% |
Valuation & Multiples
| P/E Ratio | 40.79 |
|---|---|
| PEG | 51.41 |
| Price to Sales | 0.96 |
| Price to Book Ratio | 7.76 |
| Enterprise Value to Revenue | 0.85 |
| Enterprise Value to EBIT | 24.94 |
| Enterprise Value to Net Income | 31 |
| Total Debt to Enterprise | 0.02 |
| Debt to Equity | 0.12 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 30, 2026
EPS Estimate
$0.47
Consensus analyst estimateRevenue Estimate
$3.88 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 26, 2027
EPS Estimate
$0.53
Consensus analyst estimateRevenue Estimate
$4.35 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 72.59% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 1.49%▼ 100.30% |
|---|---|
| Total Invested | $174.98M▼ 98.80% |
| Investors Holding | 129▼ 306.00% |