Bright Horizons sees double-digit growth in second quarter
At the beginning of August, Bright Horizons Family Solutions posted quarterly earnings that should certainly “brighten up” investors’ moods. The company, which describes itself as “a leading provider of high-quality child care, early education and other services designed to help employers and families better address the challenges of work and family life,” logged double-digit increases across a range of metrics.
Bright Horizons’ share price has risen by 16% so far this year
SOURCE: Yahoo Finance
For the quarter, Bright Horizons said that revenue rose by 10% against the second quarter of 2017 to $490 million, while income from operations increased by 14% year on year to $65 million. Net income rose by 22% over the same period to $40 million, and diluted earnings per share soared by 26% to $0.68.
By the end of the period (June 30), the company says it had 1,065 child care and early education centers, with the ability to serve as many as 118,000 children and their families.
In a press release, the company’s CEO, Stephen Kramer, made the following comment: “We are pleased to report strong financial results for the second quarter of 2018. As we continue to provide our employer clients and the working families that we serve with the high quality, critical supports they need to maximize their productivity, our results continue to reflect positive momentum across our entire suite of solutions. These results are powered by our people and our culture,” Kramer continued. “I am proud that we continue to make important investments in our people, most recently by adding the Bright Horizons Early Education Degree Achievement Plan - a market-leading program for early childhood educators to earn their college degree with no financial barriers.”
Dominion holds Bright Horizons Family Solutions in its Global Trends Luxury Fund.
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