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Bright Horizons Family Solutions Inc. (NYSE: BFAM) is a renowned provider of education and care solutions designed to help employers support their employees in achieving a balanced work-life integration. Established in 1986, Bright Horizons has been a pioneer in creating employer-sponsored child care centers, transforming the modern business culture by addressing the needs of working parents. Today, the company operates over 1,000 child care centers globally, relied upon by thousands of working families.
The company operates through three main business segments: full-service center-based child care, backup care, and educational advisory services. The full-service center-based child care segment, which includes traditional center-based child care and early education services, is the primary revenue generator for the company. This segment ensures that children receive the best early education and care, providing parents with peace of mind as they pursue their careers.
In addition to child care services, Bright Horizons offers backup care solutions, which encompass in-home child and elder care. These services provide critical support to employees in times of need, ensuring that both children and elderly family members are well cared for. The educational advisory services segment offers tuition assistance and education consulting, supporting both child and adult learners in their educational journeys.
Bright Horizons collaborates with many of the world's top employers, who consider the company's benefits programs a cornerstone of their employee support strategies. These programs have consistently earned recognition on prestigious lists such as Fortune's “Best Companies to Work For” and Working Mother's top workplace lists. The company's dedication to creating supportive cultures for its clients extends to its own workforce, fostering an environment where both employees and clients can thrive.
Financially, Bright Horizons generates more than half of its revenue from North America, reflecting its strong presence and trusted reputation in the region. The company's commitment to excellence is evident in its continuous efforts to innovate and expand its services, ensuring that it remains a leader in the education and care industry.
Citi has launched a new Education Benefits Program in partnership with EdAssist by Bright Horizons, focusing on enhancing employee skills and career growth. This program, available to all U.S.-based employees, expands upon previous tuition reimbursement offerings by covering upfront costs for degrees from five partner schools, including CSU Global and University of Maryland Global Campus. Additionally, it provides tuition assistance for various educational programs and access to success coaches. The initiative aims to remove financial barriers and supports Citi's commitment to employee development.
Bright Horizons (NYSE: BFAM) has been recognized as one of the 2022 PEOPLE Companies that Care, ranking 18th among U.S. companies. This accolade reflects their commitment to employee care, community support, and environmental consideration. This is Bright Horizons’ second appearance on the prestigious list, which evaluates companies based on employee feedback and workplace culture analytics from Great Place to Work. The recognition underscores the company's dedication to fostering a caring workplace culture.
Bright Horizons Family Solutions (NYSE: BFAM) announced Q2 2022 results, reporting revenue of $490 million, an 11% increase compared to Q2 2021. Net income rose 33% to $25 million, with diluted earnings per share at $0.42, up 35%. Adjusted metrics also showed significant growth, including adjusted EBITDA of $83 million (22% increase) and diluted adjusted EPS of $0.71 (45% increase). The company completed the acquisition of Only About Children on July 1, 2022, enhancing growth prospects despite ongoing challenges from COVID-19.
Bright Horizons Family Solutions (NYSE: BFAM) will announce its financial results for the quarter ending June 30, 2022, on August 2, 2022, after market close. A conference call will follow at 5:00 p.m. ET for investors and analysts to discuss the results and business outlook. The earnings release and an audio webcast link will be available on the company's website. Bright Horizons is a leading global provider of early education and child care services, operating around 1,000 centers across multiple countries.
OhioHealth has launched an enhanced education benefits program aimed at over 30,000 associates to remove financial barriers to education. The initiative, developed with EdAssist by Bright Horizons, offers up to
Bright Horizons has released its eighth-annual Modern Family Index, revealing that the pandemic has prompted significant introspection among working parents. Approximately 60% of parents feel their job benefits are inadequate for family care, valuing flexible support almost as much as salary increases. As stress levels rise, 90% of parents seek employer support, yet only 53% report any policy updates. The findings highlight a critical opportunity for employers to enhance family-oriented benefits to retain employees and improve job satisfaction.
Bright Horizons Family Solutions (NYSE: BFAM) has announced a definitive agreement to acquire Only About Children (OAC) for AUD$450 million (approx. USD$320 million). OAC is a leading operator of child care centers in Australia, with about 75 campuses. This acquisition diversifies Bright Horizons' offerings and enhances its global presence, operating nearly 1,100 centers across five countries. The deal is expected to be neutral to earnings in the first year and accretive thereafter, with OAC contributing approximately USD$140 million in revenue.
Bright Horizons Family Solutions (NYSE: BFAM) reported strong first-quarter 2022 results, with revenue of $460 million, marking an 18% increase year-over-year. Income from operations surged 127% to $31 million, while net income reached $19 million, up 172%. Diluted earnings per share rose 175% to $0.33. Adjusted EBITDA also increased by 36%. The company revised its 2022 revenue guidance to between $2.0 billion and $2.1 billion, with adjusted EPS expected to be between $3.05 and $3.25. Bright Horizons maintains a solid balance sheet with $257 million in cash.
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