Option Care Health Stock Earnings Reports

Option Care Health reported a strong Q3 2025 with revenue up 12% year-over-year driven by mid-teens growth in acute therapies and low-double-digit growth in chronic therapies. Management highlighted continued market tailwinds from site-of-care shifts (home and ambulatory settings), broadened payer and pharma partnerships, and expansion of clinical capabilities (infusion suites, advanced practitioner model, and nursing services). The company is managing a headwind from increased adoption of Stelara biosimilars (which reduced chronic growth and gross margin), but has baked expected impacts into 2025 guidance. Financial highlights: gross profit was $273M (+6.3%), adjusted EBITDA was $119.5M (+3.4%) with an 8.3% margin, adjusted EPS was $0.45 (+9.8%), year-to-date cash flow from operations was $223M, net debt/adjusted EBITDA was 1.9x, and the company repurchased >$62M of stock in the quarter. Management refinanced the term loan, added $50M liquidity, and raised the midpoints of full-year guidance to: revenue $5.6B–$5.65B, adjusted EBITDA $468M–$473M, adjusted EPS $1.68–$1.72, and expected operating cash flow > $320M. Capital allocation priorities are: (1) internal investments for profitable growth (capacity, infusion suites, technology/AI), (2) strategic tuck-in M&A and near-adjacencies, and (3) returning capital to shareholders via opportunistic buybacks. Management reiterated confidence in the company’s resilient operating model and momentum into year-end while noting uncertainty about the ultimate size/timing of Stelara biosimilar impacts beyond 2025.