Business
Option Care Health Announces Financial Results for the Second Quarter Ended June 30, 2021
BANNOCKBURN, Ill., Aug. 03, 2021 (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., Aug. 03, 2021 (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, announced today financial results for the second quarter ended June 30, 2021. Second Quarter 2021 Financial Highlights Net revenue of $860.3 million, up 16.1% compared to $740.8 million in the second quarter of 2020Gross profit of $199.0 million, or 23.1% of net revenue, up 19.6% compared to $166.3 million, or 22.4% of revenue, in the second quarter of 2020Net income of $31.8 million, or $0.18 per share, compared to net loss of $7.7 million, or $0.04 loss per share, in the second quarter of 2020Adjusted EBITDA of $72.8 million, up 33.3% compared to $54.6 million in the second quarter of 2020Cash flow from operations of $73.7 million compared to a cash flow of $35.0 million in the second quarter of 2020Cash balances of $157.5 million at the end of the second quarter and no outstanding borrowings on the Company’s $175.0 million revolverCompleted the acquisition of certain assets of BioCure for an acquisition price of $18.9 million John C. Rademacher, Chief Executive Officer, commented, “The Option Care Health team delivered a very strong second quarter while continuing to invest for future growth. Most importantly, the team focused on extraordinary patient care as we continue to navigate a dynamic healthcare environment. Based on the momentum established in the first half, the Company is positioned very well heading into the second half of 2021.” Full Year 2021 Guidance For the full year 2021, Option Care Health is increasing its financial guidance as follows: Net Revenue of $3.35 billion to $3.50 billionAdjusted EBITDA of $275 million to $285 millionCash Flow from Operations of at least $170 million Conference Call The Company will host a conference call this morning at 8:30 a.m. E.T. which can be accessed by dialing (866) 360-3136 and referencing conference ID 4065104; 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 nati...