Healthcare services provider BrightSpring Health Services (NASDAQ:BTSG) will be reporting earnings this Tuesday afternoon. Here’s what to expect.
BrightSpring Health Services beat analysts’ revenue expectations by 5.2% last quarter, reporting revenues of $3.15 billion, up 29.1% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
Is BrightSpring Health Services a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting BrightSpring Health Services’s revenue to grow 14.7% year on year to $3.17 billion, slowing from the 28.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.26 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. BrightSpring Health Services has missed Wall Street’s revenue estimates twice over the last two years.
Looking at BrightSpring Health Services’s peers in the healthcare providers & services segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Quest delivered year-on-year revenue growth of 13.2%, beating analysts’ expectations by 3.3%, and Elevance Health reported revenues up 11%, in line with consensus estimates. Quest traded down 4.9% following the results while Elevance Health was also down 2.5%.
Read our full analysis of Quest’s results here and Elevance Health’s results here.
There has been positive sentiment among investors in the healthcare providers & services segment, with share prices up 7.6% on average over the last month. BrightSpring Health Services is up 21.6% during the same time and is heading into earnings with an average analyst price target of $32.96 (compared to the current share price of $34.20).
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