The following is a summary of the BrightSpring Health Services, Inc. (BTSG) Q1 2024 Earnings Call Transcript:

Financial Performance:

• BrightSpring Health Services reported Q1 2024 revenue of $2.6 billion, up 27% YoY. Revenue from Pharmacy Solutions was $2 billion (35% YoY growth) and from Provider Services was $600 million (7% YoY growth).

• Gross profit of $369 million marked a 10% YoY growth, and adjusted EBITDA of $130.5 million was recorded, marking a 13.2% YoY growth. The guidance for both revenue and adjusted EBITDA was increased due to strong Q1 performance.

Business Progress:

• The company experienced robust growth in the first quarter, with the infusion and specialty business in Pharmacy Solutions growing 44% YoY and Home and Community Pharmacy revenue growing 15% YoY. Provider Services revenue grew 7%, driven by strong home healthcare and rehab business performance.

• BrightSpring continues to invest in operational enhancements and strategic planning, focusing on meeting the needs of more patients and outperforming market rates.

• The company won three more limited distribution drug contracts, expects an 18-drug pipeline launch within the next 16 months, and is planning to execute low multiple tuck-in transactions in targeted geographies.

• BrightSpring is also focusing on improving operational efficiency through procurement, OPEX savings projects, centralizations, and automations.

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