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BTSG Raises 2025 Financial Outlook: What's Backing It?

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Key Takeaways

  • BTSG raised 2025 revenue outlook to $12.0-$12.5 billion and EBITDA to $570-$585 million on strong Q1 results.
  • BrightSpring saw 33% Pharmacy revenue growth and 20% rise in prescription volume year over year.
  • BTSG is driving margin gains through cost controls, lean initiatives and tech-driven efficiencies.

BrightSpring Health Services, Inc. (BTSG - Free Report) has raised its full-year 2025 financial outlook. The company now expects total revenues to be in the range of $12.0-$12.5 billion (up from $11.6-$12.1 billion), representing year-over-year growth of 19.1-24.1%. Adjusted EBITDA is now projected to be in the band of $570-$585 million (up from $545-$560 million), implying a robust increase of 23.9-27.2%. Revenues from the Pharmacy Solutions segment are anticipated to be in the $10.55-$11.0 billion range (up from $10.15-$10.60 billion), while the same for Provider Services is forecasted to be in the band of $1.45-$1.50 billion.

BrightSpring raised its guidance on the back of strong first-quarter performance and multiple growth catalysts. The upside for Pharmacy Solutions segment was driven by a 33% year-over-year increase in revenues and a 20% improvement in prescription volume, especially in specialty and infusion services. With double-digit growth in hospice and home health care, the Provider care segment is also gaining momentum, supported by quality-driven outcomes and broader payer contracts. The company is also investing in cutting-edge technologies to drive operational efficiency across both pharmacy and provider segments. 

Margin expansion initiatives, such as procurement improvements and operational efficiencies, are expected to support margin gains (beginning the second quarter of 2025). In addition, disciplined cost management through lean initiatives and optimized purchasing continues to enhance gross profit and EBITDA margins. Finally, BrightSpring’s strategic focus on home and community-based care and its ability to meet complex patient needs are driving both volume and profitability.

How Are BrightSpring’s Competitors Keeping Up?

Cardinal Health, Inc. (CAH - Free Report) has raised its full-year fiscal 2025 guidance, supported by strong fiscal third-quarter performance, continued momentum in its pharmaceutical and specialty businesses, and the successful integration of recent acquisitions. The company now anticipates adjusted earnings per share to be between $8.05 and $8.15, up from the previous guidance of $7.85-$8.00. Cardinal Health is benefiting from strong specialty and pharmaceutical sales, particularly GLP-1 therapies and biopharma solutions.

Addus HomeCare Corporation (ADUS - Free Report) has reaffirmed its long-term goal of achieving 10% annual revenue growth, which includes both organic expansion and acquisitions. The company expects its adjusted EBITDA margin to remain above 12% for the full year. Key growth drivers include continued strength in the Personal Care and Home Health segments. ADUS’ strategic M&A activity continues to play a significant role, with the Gentiva acquisition adding approximately $280 million in annualized revenues.

BTSG’s Price Performance, Valuation and Estimates

Shares of BrightSpring have gained 114.8% in the past year against the industry’s 17.8% decline. The S&P 500 composite has risen 9.8% in the same period.

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From a valuation standpoint, BTSG trades at a 12-month forward price-to-earnings ratio of 20.77, up from the industry’s 14.24. 

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The Zacks Consensus Estimate for BTSG’s earnings has risen over the past 60 days.

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BTSG currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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