Business
Option Care Health Announces Financial Results for the First Quarter Ended March 31, 2022
BANNOCKBURN, Ill., April 28, 2022 (GLOBE NEWSWIRE) -- Option Care Health, Inc. (the “Company” or “Option Care Health”) (Nasdaq: OPCH), the nation’s largest
About this update from Option Care Health, Inc.
[{"type":"text","content":"BANNOCKBURN, Ill., April 28, 2022 (GLOBE NEWSWIRE) -- Option Care Health, Inc. (the “Company” or “Option Care Health”) (Nasdaq: OPCH), the nation’s largest independent provider of home and alternate site infusion services, today announced financial results for the first quarter ended March 31, 2022. First Quarter 2022 Financial Highlights Net revenue of $915.8 million, up 20.6% compared to $759.2 million in the first quarter of 2021Gross profit of $200.9 million, or 21.9% of net revenue, up 21.4% compared to $165.5 million, or 21.8% of revenue, in the first quarter of 2021Net income of $30.3 million, or $0.17 per share, compared to net loss of $2.9 million, or $0.02 loss per share, in the first quarter of 2021Adjusted EBITDA of $77.8 million, up 48.9% compared to $52.2 million in the first quarter of 2021Cash flow from operations of $32.7 million compared $18.4 million in the first quarter of 2021Cash balances of $145.6 million at the end of the first quarter John C. Rademacher, Chief Executive Officer, commented, “Despite a dynamic start to the year and ongoing pandemic disruption, the Option Care Health team executed exceptionally to ensure high quality patient care and solid financial results. Overall we expect 2022 to be a productive year as we continue to navigate a challenging environment and invest for future growth.” Full Year 2022 Guidance For the full year 2022, Option Care Health now expects to generate: Net Revenue of $3.75 billion to $3.90 billionAdjusted EBITDA of $320 million to $335 millionCash Flow from Operations of at least $230 million Conference Call The conference call can be accessed by dialing (866) 360-3136 and referencing conference ID 5737323; or via a live audio webcast that will be available online at https://investors.optioncarehealth.com. A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call, at the same web link, and will remain available for approximately 90 days. About Option Care Health Option Care Health is the nation’s largest independent provider of home and alternate site infusion services. With over 7,000 teammates, including more than 4,000 clinicians, we work compassionately to elevate standards of care for patients with acute and chronic conditions in all 50 states. Through our clinical leadership, expertise and national scal...