Business
Option Care Health Announces Financial Results For The Second Quarter Ended June 30, 2022
BANNOCKBURN, Ill., July 27, 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., July 27, 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 second quarter ended June 30, 2022. Second Quarter 2022 Financial Highlights Net revenue of $980.8 million, up 14.0% compared to $860.3 million in the second quarter of 2021Gross profit of $216.9 million, or 22.1% of net revenue, up 9.0% compared to $199.0 million, or 23.1% of net revenue, in the second quarter of 2021Net income of $33.9 million, or $0.19 per share, compared to net income of $31.8 million, or $0.18 per share, in the second quarter of 2021Adjusted EBITDA of $85.2 million, or 8.7% of net revenue, up 17.0% compared to $72.8 million, or 8.5% of net revenue, in the second quarter of 2021Cash flow from operations of $104.4 million compared to $73.7 million in the second quarter of 2021Cash balances were $204.0 million at the end of the second quarterCompleted the acquisition of Specialty Pharmacy Nursing Network for $60.0 million, financed through cash balances on hand John C. Rademacher, Chief Executive Officer, commented, “Overall the second quarter was very productive for the Option Care Health team. We continue to execute on our purpose of providing extraordinary care that changes lives. Despite continued inflationary challenges, we delivered strong financial results and we believe we are well positioned going into the second half of the year.” Full Year 2022 Guidance For the full year 2022, Option Care Health is increasing its guidance and now expects to generate: Net Revenue of $3.85 billion to $3.95 billionAdjusted EBITDA of $330 million to $342 millionCash Flow from Operations of at least $250 million Conference Call Option Care Health will host a conference call to discuss its second quarter 2022 financial results later today at 8:30 a.m. EDT. The conference call can be accessed 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...