Bright Horizons Family Solutions (BFAM) Misses Q3 EPS by 1c
Bright Horizons Family Solutions (NYSE: BFAM) reported Q3 EPS of $0.49, $0.01 worse than the analyst estimate of $0.50. Revenue for the quarter came in at $384 million versus the consensus estimate of $387.82 million.
"We are pleased to report strong financial results for the third quarter of 2016 which continue to reflect positive momentum across our suite of solutions," said David Lissy, Chief Executive Officer. "We continue to deliver solid financial results while providing our employer clients and the working families that we serve with the high quality, critical supports they need to maximize their productivity."
"As our third annual Modern Family Index Report released last month showed, today's generation of new moms is committed to growing her career while growing her family," continued Lissy. "New parents, mothers and fathers alike, won't hesitate to leave a job where they aren't supported in order to find an employer that offers the family supports they need. We are proud to serve those companies that are committed to leading the way in supporting working parents, including the more than 80 of our clients honored last month among the 100 Best Companies by Working Mothermagazine. I am also very proud that Bright Horizons was named a Best Workplace for Women by FORTUNE magazine this past September."
As described below, the Company is updating certain financial guidance. For the full year 2016, the Company currently expects:
- Overall revenue growth in 2016 in the range of approximately 7%
- Adjusted EBITDA growth in 2016 in the range of 9-10%
- Adjusted net income growth in 2016 in the range of 12-14%
- Diluted adjusted earnings per common share growth in the range of 16-17%
- Diluted weighted average shares of approximately 61 million shares
For earnings history and earnings-related data on Bright Horizons Family Solutions (BFAM) click here.