Business
Option Care Health Announces Financial Results for the Third Quarter Ended September 30, 2021
BANNOCKBURN, Ill., Nov. 04, 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., Nov. 04, 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 third quarter ended September 30, 2021. Third Quarter 2021 Financial Highlights Net revenue of $891.9 million, up 14.1% compared to $781.6 million in the third quarter of 2020Gross profit of $203.0 million, or 22.8% of net revenue, up 16.5% compared to $174.2 million, or 22.3% of revenue, in the third quarter of 2020Net income of $35.5 million, or $0.20 per share, compared to net income of $1.7 million, or $0.01 per share, in the third quarter of 2020Adjusted EBITDA of $78.0 million, up 31.7% compared to $59.2 million in the third quarter of 2020Cash flow from operations of $51.2 million compared to a cash flow of $48.3 million in the third quarter of 2020Cash balances of $200.9 million at the end of the third quarter John C. Rademacher, Chief Executive Officer, commented, “The Option Care Health team continues to execute on our mission of delivering extraordinary patient care in a challenging environment. The third quarter results reflect the dedication of the entire team and our ability to generate profitable growth and significant cash flow. While navigating the current pandemic situation, we are investing for future growth, including the recently announced acquisition of Infinity Infusion Nursing.” Full Year 2021 Guidance For the full year 2021, Option Care Health is revising its financial guidance as follows: Net Revenue of $3.35 billion to $3.50 billion (unchanged)Adjusted EBITDA of $283 million to $288 millionCash Flow from Operations of at least $180 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 2812558; 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 5,0...