Shares of BrightSpring Health Services Inc. (NASDAQ: BTSG) surged over 17% on November 1, 2024, after the company reported strong third-quarter financial results and raised its full-year guidance, fueling investor optimism about its growth prospects.
For the quarter ended September 30, 2024, BrightSpring Health reported revenue of $2.91 billion, a remarkable 28.8% year-over-year increase and higher than analysts' expectations of $2.72 billion. Despite missing earnings per share (EPS) estimates, the company raised its full-year 2024 revenue guidance to a range of $11.0 billion to $11.3 billion, up from the previous guidance of $10.45 billion to $10.9 billion.
BrightSpring Health Services, a leading provider of home and community-based health services, appears to be benefiting from robust demand for its offerings. The company's strong revenue growth and raised guidance likely signaled its ability to capitalize on favorable industry trends, driving investor enthusiasm and the subsequent stock price surge.
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