Stock Track | BrightSpring Health Soars on Q3 Revenue Beat and Raised Full-Year Guidance

Stock Track
2024-11-01

BrightSpring Health Services Inc. (NASDAQ: BTSG) saw its shares surge over 7% in pre-market trading on Thursday, after the company reported better-than-expected revenue for the third quarter of 2024 and raised its full-year guidance.

For the quarter ended September 30, 2024, BrightSpring Health reported adjusted earnings of $0.11 per diluted share, missing analysts' estimates of $0.17 per share. However, the company's revenue for the quarter soared 28.8% year-over-year to $2.91 billion, surpassing analysts' expectations of $2.72 billion.

Based on the strong performance, BrightSpring Health increased its full-year 2024 revenue guidance to a range of $11.0 billion to $11.3 billion, up from its previous guidance of $10.45 billion to $10.9 billion. This upward revision in guidance appears to have fueled the pre-market rally in the company's shares, as investors welcomed the growth prospects.

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