Option Care Health Inc

NASDAQ:OPCHUnited States

Jul 31, 2024

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• Option Care Health Shares Decline After Reporting Lower Q2 EPS, from 9:56AM ET on Wednesday Jul 31, 2024 by MT Newswires

  9:56AM ET on Wednesday Jul 31, 2024 by MT Newswires
  Companies Mentioned: OPCH
  09:56 AM EDT, 07/31/2024 (MT Newswires) -- Option Care Health (OPCH) shares fell in early trading Wednesday after reporting Q2 net income of $0.30 per diluted share, down from $0.63 a year earlier. Analysts polled by Capital IQ expected $0.27. Reven...

• -- Earnings Flash (OPCH) OPTION CARE HEALTH Posts Q2 Revenue $1.23B, vs. Street Est of $1.17B, from 7:03AM ET on Wednesday Jul 31, 2024 by MT Newswires

  7:03AM ET on Wednesday Jul 31, 2024 by MT Newswires
  Companies Mentioned: OPCH
  07:03 AM EDT, 07/31/2024 (MT Newswires) -- ...

• Option Care Health Announces Financial Results for The Second Quarter Ended June 30, 2024, from 7:01AM ET on Wednesday Jul 31, 2024 by Dow Jones

  7:01AM ET on Wednesday Jul 31, 2024 by Dow Jones
  Companies Mentioned: OPCH
  CURRENT LIABILITIES: Accounts payable $ 535,688 $ 426,513 Other current liabilities 159,719 191,796 ----------- --------------- Total current liabilities 695,407 618,309 ----------- --------------- NONCURRENT LIABILITIES: Long-term debt, net of discount, deferred financing costs and current portion 1,105,575 1,056,650 Other noncurrent liabilities 136,179 120,404 ----------- --------------- Total noncurrent liabilities 1,241,754 1,177,054 ----------- --------------- Total liabilities 1,937,161 1,795,363 ----------- --------------- STOCKHOLDERS' EQUITY 1,411,431 1,421,672 ----------- --------------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 3,348,592 $ 3,217,035 =========== =============== Schedule 2 OPTION CARE HEALTH, INC. CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)(UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 ---------------- ----------- ----------- ------------- NET REVENUE $ 1,227,186 $1,069,072 $2,373,238 $2,084,920 COST OF REVENUE 977,821 818,243 1,885,373 1,605,086 -------------- --------- --------- --------- GROSS PROFIT 249,365 250,829 487,865 479,834 OPERATING COSTS AND EXPENSES: Selling, general and administrative expenses 153,783 153,564 308,525 301,430 Depreciation and amortization expense 14,907 14,898 29,635 29,412 -------------- --------- --------- --------- Total operating expenses 168,690 168,462 338,160 330,842 -------------- --------- --------- --------- OPERATING INCOME 80,675 82,367 149,705 148,992 -------------- --------- --------- --------- OTHER INCOME (EXPENSE): Interest expense, net (12,603) (13,196) (25,805) (27,030) Other, net 3,969 86,332 5,096 87,770 -------------- --------- --------- --------- Total other (expense) income (8,634) 73,136 (20,709) 60,740 -------------- --------- --------- --------- INCOME BEFORE INCOME TAXES 72,041 155,503 128,996 209,732 INCOME TAX EXPENSE 18,998 41,100 31,162 56,121 -------------- --------- --------- --------- NET INCOME $ 53,043 $ 114,403 $ 97,834 $ 153,611 ============== ========= ========= ========= Earnings per share, basic $ 0.31 $ 0.64 $ 0.56 $ 0.85 ============== ========= ========= ========= Earnings per share, diluted $ 0.30 $ 0.63 $ 0.56 $ 0.84 ============== ========= ========= ========= Weighted average common shares outstanding, basic 172,927 179,807 173,428 180,531 ============== ========= ========= ========= Weighted average common shares outstanding, diluted 174,090 181,241 174,831 181,931 ============== ========= ========= ========= Schedule 3 OPTION CARE HEALTH, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (IN THOUSANDS)(UNAUDITED) Six Months Ended June 30, ------------------------------- 2024 2023 ---------------- ------------- CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 97,834 $ 153,611 Adjustments to reconcile net income to net cash provided by operations: Depreciation and amortization expense 30,802 30,801 Other non-cash adjustments 38,874 38,498 Changes in operating assets and liabilities: Accounts receivable, net (90,642) (18,619) Inventories (7,417) (38,643) Accounts payable 107,558 88,896 Accrued compensation and employee benefits (30,206) (3,949) Prepaid expenses and other current assets (1,745) 654 Other (18,187) 8,039 ----------- --------- Net cash provided by operating activities 126,871 259,288 ----------- --------- CASH FLOWS FROM INVESTING ACTIVITIES: Acquisition of property and equipment (15,597) (13,554) Business acquisitions, net of cash acquired -- (12,855) ----------- --------- Net cash used in investing activities (15,597) (26,409) ----------- --------- CASH FLOWS FROM FINANCING ACTIVITIES: Purchase of company stock (118,122) (75,000) Proceeds from issuance of debt 49,959 -- Other financing cash flows (10,088) (10,899) ----------- --------- Net cash used in financing activities (78,251) (85,899) ----------- --------- NET INCREASE IN CASH AND CASH EQUIVALENTS 33,023 146,980 Cash and cash equivalents - beginning of the period 343,849 294,186 ----------- --------- CASH AND CASH EQUIVALENTS - END OF PERIOD $ 376,872 $ 441,166 =========== ========= Schedule 4 OPTION CARE HEALTH, INC. QUARTERLY RECONCILIATION BETWEEN GAAP AND NON-GAAP MEASURES (IN THOUSANDS)(UNAUDITED) Three Months Ended Six Months Ended June June 30, 30, 2024 2023 2024 2023 -------- --------- -------- ----------- Net income $ 53,043 $114,403 $ 97,834 $153,611 Interest expense, net 12,603 13,196 25,805 27,030 Income tax expense 18,998 41,100 31,162 56,121 Depreciation and amortization expense 15,497 15,576 30,802 30,801 ------- ------- ------- ------- EBITDA 100,141 184,275 185,603 267,563 EBITDA adjustments Stock-based incentive compensation 7,608 7,685 17,213 13,673 Loss on extinguishment of debt 377 -- 377 -- Restructuring, acquisition, integration and other (1) 231 (81,910) 3,454 (77,412) ------- ------- ------- ------- Adjusted EBITDA $108,357 $110,050 $206,647 $203,824 ======= ======= ======= =======
  

• *DJ Option Care Health 2Q EPS 30c >OPCH, from 7:01AM ET on Wednesday Jul 31, 2024 by Dow Jones

  7:01AM ET on Wednesday Jul 31, 2024 by Dow Jones
  Companies Mentioned: OPCH