BrightSpring Health Services Q4 Earnings Call Highlights

BrightSpring Health Services (NASDAQ:BTSG) reported fourth-quarter and full-year 2025 results that absorption said exceeded the precocious extremity of the company’s guidance scope for the year, driven by gross growth, adjusted EBITDA expansion, and stronger currency travel generation. Executives besides outlined cardinal portfolio actions, including an expected first-quarter adjacent for the company’s planned Community Living divestiture and the completed acquisition of location wellness assets from Amedisys and LHC successful the 4th quarter.

Chief Executive Officer Jon Rousseau said BrightSpring expects its Community Living divestiture to adjacent astatine the extremity of the archetypal 4th of 2026, pursuing Federal Trade Commission support earlier successful the year. The institution expects nett after-tax currency proceeds of astir $715 cardinal and intends to chiefly usage the funds to wage down debt.

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BrightSpring besides closed a two-part transaction for Amedisys and LHC location wellness assets connected December 1 and December 31, 2025. Rousseau said the institution acquired 107 branches for $239 million, funded wholly with currency connected hand. Management cited full-year 2025 pro forma gross of $345 cardinal for the acquired assets (including months anterior to closing) and described the assets arsenic complementary geographically and overlapping with BrightSpring hospice markets.

For the 4th fourth of 2025, BrightSpring reported full gross of $3.6 billion, up 29% year-over-year. Adjusted EBITDA was $184 million, up 41% year-over-year. Adjusted EPS was $0.33 for the quarter.

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For the afloat year, BrightSpring reported full gross of $12.9 billion, up 28% from 2024. Pharmacy Solutions gross was $11.4 cardinal (up 31%), and Provider Services gross was $1.5 cardinal (up 11%). Full-year adjusted EBITDA was $618 million, up 34%, with an adjusted EBITDA borderline of 4.8%, up 20 ground points versus 2024. Adjusted EPS for the afloat twelvemonth was $1.00.

CFO Jen Phipps noted that the institution began signaling Community Living successful discontinued operations successful the archetypal 4th of 2025, and that results and 2026 guidance discussed connected the telephone subordinate to continuing operations and exclude Community Living and immoderate acquisitions not yet closed.

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BrightSpring generated $232 cardinal successful currency travel from operations successful the 4th fourth and $490 cardinal successful 2025, which Phipps said exceeded the company’s yearly run-rate operating currency travel expectations. Net indebtedness outstanding was astir $2.5 cardinal arsenic of December 31, 2025.