Brightspring Health Services . Common Stock Stock Earnings Reports

BrightSpring reported strong Q1 2026 results with total revenue of $3.6 billion, up 26% year-over-year, driven by Pharmacy Solutions ($3.2B, +25%) and Provider Services ($442M, +28%). Adjusted EBITDA was $190M (+45% YoY) and adjusted EBITDA margin expanded to 5.3% (up ~70 bps). The company completed the divestiture of Community Living (≈$811M net cash proceeds before tax) and used proceeds to strengthen the balance sheet; pro forma leverage fell to ~2.40x (2.27x excluding expected Q2 cash taxes). Key operational highlights include continued specialty and infusion momentum (specialty & infusion revenue +36%; scripts +~30% YoY; infusion double-digit growth), addition of 4 ultra-narrow LDDs in Q1 (total LDDs = 153), high patient satisfaction and quality metrics across businesses, and continued deployments of automation and AI-driven operational efficiency projects. Headwinds include an expected ~ $175M full-year revenue impact in Home & Community Pharmacy from IRA-related pricing changes and decisions to exit uneconomic customers; management reiterated prior estimates of broader IRA/brand-to-generic impacts. Management reiterated a disciplined M&A posture, targeting mid-2x leverage as a long-term range, while remaining open to tuck-ins and strategic acquisitions. Full-year 2026 guidance (continuing operations, excluding Community Living and not-yet-closed acquisitions): revenue $14.725B–$15.225B; Pharmacy Solutions $12.85B–$13.3B; Provider Services $1.875B–$1.925B; total adjusted EBITDA $795M–$825M (includes ~$30M EBITDA contribution from Amedisys/LHC assets).