UPDATE: Option Care Health (OPCH) Misses Q1 EPS by 4c, Revenues Beat

Option Care Health (NASDAQ: OPCH) reported Q1 EPS of ($0.02), $0.04 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $759.2 million versus the consensus estimate of $752.47 million.

First Quarter 2021 Financial Highlights

• Net revenue of $759.2 million, up 7.6% compared to $705.4 million in the first quarter of 2020
• Gross profit of $165.5 million, or 21.8% of net revenue, up 4.7% compared to $158.0 million, or 22.4% of revenue, in the first quarter of 2020
• Net loss of $2.9 million, or $0.02 loss per share, compared to net loss of $19.9 million, or $0.11 loss per share, in the first quarter of 2020
• Adjusted EBITDA of $52.2 million, up 30.0% compared to $40.2 million in the first quarter of 2020
• Cash flow from operations of $18.4 million compared to a cash flow of $18.4 million in the first quarter of 2020
• Cash balances of $109.4 million at the end of the first quarter and no outstanding borrowings on the Company’s $175.0 million revolver

John C. Rademacher, Chief Executive Officer, commented, “The Option Care Health team delivered solid financial results in the first quarter while continuing to lay the foundation for sustained growth. We continue to make progress in integration efforts and invest in technology and clinical capabilities to further solidify our industry leading position.”

Full Year 2021 Financial Guidance

For the full year 2021, Option Care Health is maintaining its previously-communicated guidance with the exception of the expected range for Adjusted EBITDA. The Company is raising its expectation for Adjusted EBITDA to $248.0 million to $260.0 million, from a previous expected range of $245.0 million to $258.0 million. Expectations for net revenue, cash flow from operations and leverage ratio remain consistent with previous guidance communications.

For earnings history and earnings-related data on Option Care Health (OPCH) click here.

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