Healthcare services provider BrightSpring Health Services (NASDAQ: BTSG) will be reporting earnings this Friday before market hours. Here’s what you need to know.
BrightSpring Health Services beat analysts’ revenue expectations last quarter, reporting revenues of $3.55 billion, up 16.3% year on year. It was a strong quarter for the company, with a solid beat of analysts’ revenue estimates and full-year EBITDA guidance exceeding analysts’ expectations.
Is BrightSpring Health Services a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting BrightSpring Health Services’s revenue to grow 18.1% year on year, slowing from the 25.9% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. BrightSpring Health Services has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at BrightSpring Health Services’s peers in the healthcare providers & services segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Chemed delivered year-on-year revenue growth of 1.6%, beating analysts’ expectations by 1.2%, and Centene reported revenues up 7.1%, topping estimates by 6.2%. Chemed traded up 10% following the results while Centene was also up 23.8%.
Read our full analysis of Chemed’s results here and Centene’s results here.
There has been positive sentiment among investors in the healthcare providers & services segment, with share prices up 6.4% on average over the last month. BrightSpring Health Services is up 14.3% during the same time and is heading into earnings with an average analyst price target of $52.60 (compared to the current share price of $48.71).
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