Bright Horizons posts “bright” results for third quarter
Bright Horizons Family Solutions, the market-leading full-service provider of childcare in the US and UK, reported strong third-quarter earnings at the end of last week and reiterated its guidance. The company is continuing to ride out positive long-term trends, including the propensity for new mothers to return to the workforce, and an emphasis on early education designed to let kids thrive in increasingly skills-based economies.
Bright Horizons’ share price has risen by 4% in five days
Source: Yahoo Finance
Bright Horizons said that revenue rose by 9% against the year-ago quarter to $472 million, while income from operations increased by 23% year on year to $55 million. Net income also saw positive growth, increasing 8% over the same period to $34 million. That works out as diluted earnings per share of $0.57 – a 12% rise, year on year.
Speaking to the strength of these results, the company’s CEO Stephen Kramer, made the following comment in a press release:
“We are pleased to report strong financial results for the third quarter of 2018. Bright Horizons continues to lead our field in creating innovative solutions for employers, and in delivering high quality care to hundreds of thousands of children, working parents and adult learners every day. We are also very proud to have been named one of Fortune magazine's “Best Workplaces for Women.” Supporting women is essential to our culture, our growth and the organizations we serve, and this recognition is a testament to our own commitment to be a great place to work.”
Looking to the future, the company updated its full-year 2018 guidance. It now expects revenue growth in the region of 8% to 10% from the previous year, and earnings per share of between $2.53 and $2.55.
Dominion holds Bright Horizons Family Solutions in its Global Trends Luxury Fund.
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