Bright Horizons Fam Sol In Del - BFAM STOCK NEWS

Bright Horizons EdAssist Solutions has identified the top healthcare employers providing comprehensive education benefits, recognizing them as “The Smartest Healthcare Organizations in Workforce Education.” The recognition highlights employers like Atrium Health and NewYork-Presbyterian, who support employees in advancing their education through tuition assistance and financial coaching. Key metrics include 94% retention rates at Kennedy Krieger and over 2,500 support beneficiaries at Atrium Health since July 2020. The initiative underscores the growing importance of education in enhancing workforce motivation and security, especially during the pandemic.

Bright Horizons Family Solutions® Inc. (NYSE: BFAM) will announce its fourth quarter 2020 results on February 17, 2021, after market close. A conference call will follow at 5:00 p.m. ET, featuring CEO Stephen Kramer discussing the earnings, business outlook, and strategy. Interested listeners can dial 1-877-407-9039 (or 1-201-689-8470 internationally) to join. The earnings release and call replay will be available until March 10, 2021, along with an audio webcast on the company’s website.

A recent survey by Bright Horizons (NYSE: BFAM) highlights the challenges parents face in securing effective child care during the COVID-19 pandemic. Among working parents, 78% express concern over their children missing social and developmental opportunities. Notably, 46% of those using in-home care feel that child care centers offer better social and educational experiences. In contrast, 67% of parents with children in centers believe their arrangements foster social development. The survey indicates a strong desire for structured child care, with 89% of parents open to enrolling their children in such settings soon.

Bright Horizons EdAssist Solutions (NYSE:BFAM) announced its endorsement of the CARES Act Student Loan Repayment Provision, recently extended to 2025. Under this provision, employers can contribute up to $5,250 annually for employees' educational expenses tax-free. This initiative could increase the number of employers offering student loan benefits from 1 in 10 to 1 in 3. In 2019, Bright Horizons helped employees save nearly $1 billion in student debt through direct payments, significantly impacting their financial well-being.

Bright Horizons Family Solutions (NYSE:BFAM) announced the retirement of its three founders, Roger Brown, Linda Mason, and Marguerite Kondracke, from the Board of Directors effective March 31, 2021. They will transition to Director Emeritus roles, continuing to advise the organization. The founders expressed pride in the company's evolution and its ability to meet modern needs while adhering to its core mission. Chairman David Lissy and CEO Stephen Kramer praised their contributions and assured shareholders of the Board’s robust experience. The Board will reduce in size to ten members following this transition.

Bright Horizons Family Solutions (BFAM) reported a 34% revenue decline in Q3 2020, totaling $338 million, due to COVID-19 disruptions. Loss from operations stood at $6 million, contrasting sharply with a profit of $63 million from Q3 2019. Net loss reached $7 million, with a diluted loss per share of $0.11. Approximately 900 centers have reopened, serving around 100,000 children. Despite challenges, the company maintains a robust balance sheet with $365 million in cash. However, no financial guidance for the remainder of 2020 was provided due to ongoing uncertainties.

Bright Horizons Family Solutions (NYSE: BFAM) will release its Q3 2020 earnings on November 5, 2020, after market close. The company will host a conference call at 5:00 p.m. ET to discuss results and business outlook. Interested parties can join the call by dialing specified numbers, and a replay will be available until November 26, 2020. Bright Horizons is a leader in child care and workplace education services, operating approximately 1,100 centers across several countries and serving over 1,200 organizations worldwide.

Bright Horizons EdAssist Solutions (NYSE: BFAM) conducted a survey revealing that 85% of working Americans believe employers must rethink benefits post-COVID-19. A significant 78% express the need for education benefits, such as tuition reimbursement. The results indicate that educational support is linked to higher employee motivation, security, and preparedness, with 75%, 74%, and 73% respectively affirming this. Furthermore, nearly 65% believe education benefits promote workplace equality. The survey reflects changing employee expectations and highlights an opportunity for employers to enhance their benefits programs.