Business
Option Care Health Announces Financial Results for the Third Quarter Ended September 30, 2022
BANNOCKBURN, Ill., Oct. 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., Oct. 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 third quarter ended September 30, 2022. Third Quarter 2022 Financial Highlights Net revenue of $1,020.9 million, up 14.5% compared to $891.9 million in the third quarter of 2021Gross profit of $218.0 million, or 21.4% of net revenue, up 7.4% compared to $203.0 million, or 22.8% of net revenue, in the third quarter of 2021Net income of $38.8 million, or $0.21 per share, compared to net income of $35.5 million, or $0.20 per share, in the third quarter of 2021Adjusted EBITDA of $85.6 million, or 8.4% of net revenue, up 9.8% compared to $78.0 million, or 8.7% of net revenue, in the third quarter of 2021Cash flow from operations of $87.0 million compared to $51.2 million in the third quarter of 2021Cash balances were $255.5 million at the end of the third quarterCompleted the acquisition of Rochester Home Infusion, Inc. for $27.4 million, financed through cash balances on hand John C. Rademacher, Chief Executive Officer, commented, “The Option Care Health team continued to execute on our commitment to delivering extraordinary care to our patients. Our focus on quality patient care, as well as our investments for future growth, have allowed us to capitalize on dynamic market opportunities and deliver solid financial results in the third quarter, despite an ongoing challenging inflationary environment.” Full Year 2022 Guidance For the full year 2022, Option Care Health is revising its guidance and now expects to generate: Net Revenue of $3.90 billion to $3.95 billionAdjusted EBITDA of $336 million to $341 millionCash Flow from Operations of at least $250 million Conference Call Option Care Health will host a conference call to discuss its third 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 na...