BrightSpring Health Services, Inc. Reports First Quarter 2025 Financial Results and Increases Full Year 2025 Guidance
LOUISVILLE, Ky., May 02, 2025 (GLOBE NEWSWIRE) -- BrightSpring Health Services, Inc. ("BrightSpring" or the "Company") $(BTSG)$, a leading provider of home and community-based health services for complex populations, today announced financial results for the first quarter ended March 31, 2025, and increased Revenue and Adjusted EBITDA(1) guidance.
Financial Highlights
(note: all figures exclude the Community Living business)
-- Net Revenue of $2,878 million, up 25.9% compared to $2,286 million in the
first quarter of 2024.
-- Net Income from Continuing Operations of $9.2 million, compared to Net
Loss from Continuing Operations of $56.0 million in the first quarter of
2024.
-- Adjusted EBITDA1 of $131 million, up 28.2% versus $102 million in the
first quarter of 2024.
-- Planned divestiture of Community Living business to Sevita, announced on
January 20, 2025, remains on track to be divested this year.
-- Increased 2025 Revenue and Adjusted EBITDA guidance:
-- Revenue: $12,000 - $12,500 million
-- Adjusted EBITDA1: $570 - $585 million
"BrightSpring's focus on serving patients with quality and efficient care in home and community settings continues to be foundational to the Company's growth and financial performance," said Jon Rousseau, Chairman, President, and Chief Executive Officer of the Company. "We are pleased with our first quarter results across the Pharmacy and Provider service lines, as we reach more patients with high-quality solutions, leverage our scaled platform and processes, and invest in best practices and the future. We remain confident in our team's ability to bring timely, coordinated, and impactful services and care to the populations we serve, where they are."
First Quarter 2025 Financial Results
(note: all figures exclude the Community Living business)
Net Revenue of $2,878 million, up 25.9% compared to $2,286 million in the first quarter of 2024.
Gross Profit of $338 million, up 15.7% compared to $292 million in the first quarter of 2024.
Net Income from Continuing Operations of $9.2 million, compared to Net Loss from Continuing Operations of $56.0 million in the first quarter of 2024.
Adjusted EBITDA(1) of $131 million, up 28.2% compared to $102 million in the first quarter of 2024.
1Adjusted EBITDA is a non-GAAP financial measure. Please see "Non-GAAP Financial Information" and the end of this press release for a reconciliation of Adjusted EBITDA to net income (loss) from continuing operations, the most directly comparable financial measure prepared in accordance with GAAP.
Key Financials (for BrightSpring continuing operations)
Three Months Ended
March 31, (Unaudited)
--------------------------- ------
2025 2024 %
------------ -------- ------
($ in millions)
Pharmacy Solutions Revenue $ 2,532 $ 1,977 28%
Provider Services Revenue 346 309 12%
-------- -------
Total Revenue $ 2,878 $ 2,286 26%
======== =======
Three Months Ended
March 31, (Unaudited)
--------------------------- ------
2025 2024 %
------------ -------- ------
($ in millions)
Pharmacy Solutions segment
EBITDA $ 116 $ 88 31%
Provider Services segment
EBITDA 51 47 9%
-------- -------
Total Segment Adjusted EBITDA $ 167 $ 135 24%
Corporate Costs (36) (33) -
-------- -------
Total Company Adjusted
EBITDA(1) $ 131 $ 102 28%
======== =======
1Adjusted EBITDA is a non-GAAP financial measure. Please see "Non-GAAP Financial Information" and the end of this press release for a reconciliation of Adjusted EBITDA to net income (loss) from continuing operations, the most directly comparable financial measure prepared in accordance with GAAP.
Full Year 2025 Financial Guidance
For the full year 2025, BrightSpring is increasing guidance, which excludes the Community Living business and the effects of any future closed acquisitions. All growth rates are shown as compared to the full year 2024 Revenue and Adjusted EBTIDA results, excluding the Community Living business.
-- Net Revenue of $12,000 million to $12,500 million, or 19.1% to 24.1%
growth.
-- Pharmacy Segment Revenue of $10,550 million to $11,000 million, or
20.5% to 25.7% growth.
-- Provider Segment Revenue of $1,450 million to $1,500 million, or
10.0% to 13.8% growth.
-- Adjusted EBITDA2 of $570 million to $585 million, or 23.9% to 27.2%
growth.
A copy of the Company's first quarter 2025 earnings presentation is available on the Company's investor relations website, https://ir.brightspringhealth.com/
2A reconciliation of the foregoing guidance for the non-GAAP metric of Adjusted EBITDA to GAAP net income (loss) from continuing operations cannot be provided without unreasonable effort because of the inherent difficulty of accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliation that have not yet occurred, are out of our control, or cannot be reasonably predicted. For the same reasons, the Company is unable to assess the probable significance of the unavailable information, which could have a material impact on its future GAAP financial results.
Webcast and Conference Call Details
BrightSpring will host a conference call today, May 2, 2025, at 8:30 a.m. Eastern Time. Investors interested in listening to the conference call are required to register online.
A live and archived webcast of the event will be available on the "Events & Presentations" section of the BrightSpring website at https://ir.brightspringhealth.com/. The Company has posted supplemental financial information on the first quarter 2025 results that it will reference during the conference call. The supplemental information can be found under the "Events & Presentations" on the Company's investor relations page.
About BrightSpring Health Services
BrightSpring Health Services provides complementary home- and community-based pharmacy and provider health solutions for complex populations in need of specialized and/or chronic care. Through the Company's service lines, including pharmacy, home health care and primary care, and rehabilitation and behavioral health, we provide comprehensive and more integrated care and clinical solutions in all 50 states to over 450,000 customers, clients and patients daily. BrightSpring has consistently demonstrated strong and often industry-leading quality metrics across its services lines while improving the quality of life and health for high-need individuals and reducing overall costs to the healthcare system.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, our operations and financial performance. Forward-looking statements include all statements that are not historical facts. These forward-looking statements may relate to matters which include, but are not limited to, industries, business strategy, goals and expectations concerning our market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources and other financial and operating information. In some cases, we have used words such as "anticipate," "assume," "believe," "continue, " "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future," "will," "seek," "foreseeable," "target," "guidance," the negative version of these words, or similar terms and phrases to identify these forward-looking statements.
The forward-looking statements are based on management's current expectations and are not historical facts or guarantees of future performance. The forward-looking statements relate to the future and are therefore subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Our expectations, beliefs, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs, and projections will result or be achieved. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory, and other factors, many of which are beyond our control. We believe that these factors include but are not limited to the following:
-- our operation in a highly competitive industry;
-- our inability to maintain relationships with existing patient referral
sources or establish new referral sources;
-- changes to Medicare and Medicaid rates or methods governing Medicare and
Medicaid payments for our services;
-- cost containment initiatives of third-party payors, including
post-payment audits;
-- the implementation of alternative payment models and the transition of
Medicaid and Medicare beneficiaries to managed care organizations may
limit our market share and could adversely affect our revenues;
-- changes in the case mix of patients, as well as payor mix and payment
methodologies, and decisions and operations of third-party organizations;
-- our reliance on federal and state spending, budget decisions, and
continuous governmental operations which may fluctuate under different
political conditions;
-- changes in drug utilization and/or pricing, PBM contracts, and Medicare
Part D/Medicaid reimbursement, which may negatively impact our
profitability;
-- changes in our relationships with pharmaceutical suppliers, including
changes in drug availability or pricing;
-- reliance on the continual recruitment and retention of nurses,
pharmacists, therapists, caregivers, direct support professionals, and
other qualified personnel, including senior management;
-- compliance with or changes to federal, state, and local laws and
regulations that govern our employment practices, including minimum wage,
living wage, and paid time-off requirements;
-- fluctuation of our results of operations on a quarterly basis;
-- harm caused by labor relation matters;
-- limitations in our ability to control reimbursement rates received for
our services if we are unable to maintain or reduce our costs to provide
such services;
-- delays in collection or non-collection of our accounts receivable,
particularly during the business integration process;
-- failure to manage our growth effectively, which may inhibit our ability
to execute our business plan, maintain high levels of service and
satisfaction or adequately address competitive challenges;
-- our ability to identify, successfully complete and manage acquisitions,
joint ventures, and other strategic initiatives, including the pending
sale of our Community Living business;
-- our ability to continue to provide consistently high quality of care;
-- maintenance of our corporate reputation or the emergence of adverse
publicity, including negative information on social media or changes in
public perception of our services;
-- contract continuance, expansion and renewal with our existing customers,
including renewals at lower fee levels, customers declining to purchase
additional services from us, or reduction in the services received from
us pursuant to those contracts;
-- effective investment in, implementation of improvements to and proper
maintenance of the uninterrupted operation and data integrity of our
information technology and other business systems;
-- security breaches, loss of data, and other disruptions, which could
compromise sensitive business or patient information; cause a loss of
confidential patient data, employee data or personal information; or
prevent access to critical information and thereby expose us to liability,
litigation, and federal and state governmental inquiries and damage our
reputation and brand;
-- risks related to credit card payments and other payment methods;
-- potential substantial malpractice or other similar claims;
-- various risks related to governmental inquiries, regulatory actions, and
whistleblower and other lawsuits, which may not be entirely covered by
insurance;
-- our current insurance program, which may expose us to unexpected costs,
particularly if we incur losses not covered by our insurance or if claims
or losses differ from our estimates;
-- factors outside of our control, including those listed, which have
required and could in the future require us to record an asset impairment
of goodwill;
-- a pandemic, epidemic, or outbreak of an infectious disease;
-- inclement weather, natural disasters, acts of terrorism, riots, civil
insurrection or social unrest, looting, protests, strikes, or street
demonstrations; and
-- significant changes in tax or trade policies, tariffs, or trade relations
between the United States and other countries, such as the imposition of
unilateral tariffs on imported products; and
-- our inability to adequately protect our intellectual property rights.
The forward-looking statements included in this press release are made only as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law. These factors should not be construed as exhaustive, and should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, our actual results may vary in material respects from those projected in these forward-looking statements. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Our forward- looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, investments, or other strategic transactions we may make.
For additional information on these and other factors that could cause BrightSpring's actual results to differ materially from expected results, please see our filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at www.sec.gov.
Non-GAAP Financial Measures
This press release contains "non-GAAP financial measures," including "EBITDA" and "Adjusted EBITDA," which are financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with accounting principles generally accepted in the United States, or GAAP.
EBITDA and Adjusted EBITDA have been presented in this release as supplemental measures of financial performance that are not required by, or presented in accordance with, GAAP, because we believe they assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Management also believes that these measures are useful to investors in highlighting trends in our operating performance, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which we operate and capital investments. Management uses EBITDA and Adjusted EBITDA to supplement GAAP measures of performance in the evaluation of the effectiveness of our business strategies, to make budgeting decisions, to establish and award discretionary annual incentive compensation, and to compare our performance against that of other peer companies using similar measures.
Management supplements GAAP results with non-GAAP financial measures to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone. EBITDA and Adjusted EBITDA are not GAAP measures of our financial performance and should not be considered as an alternative to net income (loss) as a measure of financial performance or any other performance measures derived in accordance with GAAP. Additionally, these measures are not intended to be a measure of free cash flow available for management's discretionary use as they do not consider certain cash requirements such as tax payments, debt service requirements, total capital expenditures, and certain other cash costs that may recur in the future.
Management defines EBITDA as net income (loss) from continuing operations before income tax benefit, interest expense, net and depreciation and amortization. Management also defines Adjusted EBITDA as EBITDA, further adjusted to exclude non-cash share-based compensation, acquisition, integration and transaction-related costs, restructuring and divestiture-related and other costs, legal costs and settlements associated with certain historical matters for PharMerica, significant projects, and management fees.
The presentations of these measures have limitations as analytical tools and should not be considered in isolation, or as a substitute for analysis of our results as reported under GAAP. Because not all companies use identical calculations, the presentations of these measures may not be comparable to other similarly titled measures of other companies and can differ significantly from company to company. Please see the end of this press release for reconciliations of non-GAAP financial measures to the most directly comparable financial measure prepared in accordance with GAAP.
BrightSpring Contact:
Investor Relations:
David Deuchler, CFA
Gilmartin Group LLC
ir@brightspringhealth.com
Media Contact:
Leigh White
leigh.white@brightspringhealth.com
502.630.7412
BrightSpring Health Services, Inc. and Subsidiaries
Consolidated Balance Sheets
March 31, 2025 and December 31, 2024
(In thousands, except share and per share data)
(Unaudited)
March 31, 2025 December 31, 2024
---------------- -------------------
Assets
Current assets:
Cash and cash equivalents $ 52,337 $ 60,954
Accounts receivable, net
of allowance for credit
losses 975,264 902,782
Inventories 533,637 636,561
Prepaid expenses and other
current assets 131,027 161,310
Current assets held for
sale 836,183 131,447
------------ ---------------
Total current assets 2,528,448 1,893,054
------------ ---------------
Property and equipment, net
of accumulated depreciation
of $355,623 and $339,892 at
March 31, 2025 and December
31, 2024, respectively 177,228 180,570
Goodwill 2,370,024 2,363,884
Intangible assets, net of
accumulated amortization 568,284 595,224
Operating lease right-of-use
assets, net 162,371 161,032
Deferred income taxes, net 2,311 5,288
Other assets 38,279 39,128
Non-current assets held for
sale -- 687,960
------------ ---------------
Total assets $ 5,846,945 $ 5,926,140
============ ===============
Liabilities, Redeemable
Noncontrolling Interest, and
Equity
Current liabilities:
Trade accounts payable $ 868,080 $ 923,926
Accrued expenses 302,590 295,746
Current portion of
obligations under
operating leases 38,687 38,910
Current portion of
obligations under
financing leases 3,287 3,463
Current portion of
long-term debt 48,725 48,725
Current liabilities held
for sale 196,248 117,563
------------ ---------------
Total current
liabilities 1,457,617 1,428,333
------------ ---------------
Obligations under operating
leases, net of current
portion 130,360 129,467
Obligations under financing
leases, net of current
portion 6,477 6,530
Long-term debt, net of
current portion 2,489,339 2,561,858
Long-term liabilities 72,585 71,190
Non-current liabilities held
for sale -- 77,177
------------ ---------------
Total liabilities 4,156,378 4,274,555
------------ ---------------
Redeemable noncontrolling
interest 3,323 3,730
Shareholders' equity:
Common stock, $0.01 par
value, 1,500,000,000
shares authorized,
175,183,434 and
174,245,990 shares issued
and outstanding at March
31, 2025 and December 31,
2024, respectively $ 1,752 $ 1,742
Preferred stock, $0.01
par value, 250,000,000
authorized, no shares
issued and outstanding at
March 31, 2025 and
December 31, 2024 -- --
Additional paid-in capital 1,880,099 1,866,850
Accumulated deficit (192,613) (222,155)
Accumulated other
comprehensive (loss)
income (1,869) 1,418
------------ ---------------
Total shareholders'
equity 1,687,369 1,647,855
------------ ---------------
Noncontrolling interest (125) --
------------ ---------------
Total equity 1,687,244 1,647,855
------------ ---------------
Total liabilities,
redeemable
noncontrolling
interest, and equity $ 5,846,945 $ 5,926,140
============ ===============
BrightSpring Health Services, Inc. and Subsidiaries
Consolidated Statements of Operations
For the three months ended March 31, 2025 and 2024
(In thousands, except per share amounts)
(Unaudited)
For the Three Months Ended
March 31,
------------------------------
2025 2024
--------------- ------------
Revenues:
Products $ 2,532,171 $ 1,977,035
Services 345,958 308,731
----------- -----------
Total revenues 2,878,129 2,285,766
Cost of goods 2,328,215 1,807,100
Cost of services 211,545 186,175
----------- -----------
Gross profit 338,369 292,491
Selling, general, and
administrative expenses 287,630 307,826
Operating income (loss) 50,739 (15,335)
Loss on extinguishment of debt -- 12,726
Interest expense, net 41,763 54,470
----------- -----------
Income (loss) from continuing
operations before income taxes 8,976 (82,531)
Income tax benefit (240) (26,504)
----------- -----------
Income (loss) from continuing
operations, net of income taxes 9,216 (56,027)
Income from discontinued
operations, net of income taxes 19,794 9,642
----------- -----------
Net income (loss) 29,010 (46,385)
Net loss attributable to
noncontrolling interests included
in continuing operations $(532.SI)$ (635)
=========== ===========
Net income (loss) attributable to
BrightSpring Health Services, Inc.
and subsidiaries $ 29,542 $ (45,750)
Net income (loss) per common
share:
Basic income (loss) per share
attributable to common
shareholders:
Continuing operations $ 0.05 $ (0.31)
Discontinued operations $ 0.10 $ 0.05
----------- -----------
Net income (loss) $ 0.15 $ (0.26)
Diluted income (loss) per share
attributable to common
shareholders:
Continuing operations $ 0.05 $ (0.31)
Discontinued operations $ 0.09 $ 0.05
----------- -----------
Net income (loss) $ 0.14 $ (0.26)
Weighted average shares
outstanding:
Basic 201,005 175,531
Diluted 214,927 175,531
BrightSpring Health Services, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
For the three months ended March 31, 2025 and 2024
(In thousands)
(Unaudited)
For the Three Months Ended
March 31,
------------------------------
2025 2024
------------- --------------
Operating activities:
Net income (loss) $ 29,010 $ (46,385)
Adjustments to reconcile net
income (loss) to cash provided
by (used in) operating
activities:
Depreciation and amortization 42,161 48,922
Impairment of long-lived assets 3,411 1,769
Change in fair value of
contingent consideration, net 1,698 --
Provision for credit losses 8,101 6,622
Amortization of deferred debt
issuance costs 2,749 4,447
Share-based compensation 15,681 24,848
Deferred income taxes, net 4,031 (31,732)
Loss on extinguishment of debt -- 12,726
(Gain) loss on disposition of
fixed assets (287) 122
Other 161 (312)
Change in operating assets and
liabilities, net of
acquisitions and
dispositions:
Accounts receivable (79,449) (115,576)
Prepaid expenses and other
current assets 23,973 8,916
Inventories 103,300 30,485
Trade accounts payable (53,871) 21,605
Accrued expenses 8,643 (43,430)
Other assets and liabilities (7,714) (1,886)
--------- -------------
Net cash provided by (used in)
operating activities $ 101,598 $ (78,859)
--------- -------------
Investing activities:
Purchases of property and
equipment $ (17,632) $ (21,816)
Acquisitions of businesses (6,754) (9,394)
Other 195 272
--------- -------------
Net cash used in investing
activities $ (24,191) $ (30,938)
--------- -------------
Financing activities:
Long-term debt borrowings $ -- $ 2,566,000
Long-term debt repayments (11,792) (3,359,353)
Proceeds from issuance of common
stock on initial public
offering, net -- 656,485
Proceeds from issuance of
tangible equity units, net -- 389,000
Repayments of the Revolving
Credit Facility, net (63,300) (50,700)
Payment of debt issuance costs -- (42,963)
Repurchase of shares of common
stock -- (325)
Proceeds from shares issued
under share-based compensation
plan 345 --
Taxes paid related to net share
settlement of equity awards (2,763) --
Purchase of redeemable
noncontrolling interest (5,100) (300)
Payment of financing lease
obligations (3,408) (3,081)
--------- -------------
Net cash (used in) provided by
financing activities $ (86,018) $ 154,763
--------- -------------
Net (decrease) increase in
cash and cash equivalents (8,611) 44,966
Cash and cash equivalents at
beginning of period 61,253 13,071
--------- -------------
Cash and cash equivalents at end
of period $ 52,642 $ 58,037
--------- -------------
Cash and cash equivalents
included in assets held for sale
at end of period 305 2,494
--------- -------------
Cash and cash equivalents
included in continuing
operations at end of period $ 52,337 $ 55,543
========= =============
BrightSpring Health Services, Inc. and Subsidiaries
Reconciliation of EBITDA and Adjusted EBITDA
For the three months ended March 31, 2025 and 2024
(Unaudited)
The following table reconciles net income (loss) from
continuing operations to EBITDA and Adjusted EBITDA:
($ in thousands) For the Three Months Ended
March 31,
--------------------------------
2025 2024
--------------- -----------
Net income (loss) from continuing
operations $ 9,216 $ (56,027)
Income tax benefit (240) (26,504)
Interest expense, net 41,763 54,470
Depreciation and amortization 40,832 39,236
----------- ----------
EBITDA $ 91,571 $ 11,175
Non-cash share-based compensation
(1) 12,474 23,586
Acquisition, integration, and
transaction-related costs (2) 9,521 8,541
Restructuring and
divestiture-related and other
costs (3) 17,496 23,899
Legal costs and settlements (4) -- 10,473
Significant projects (5) -- 1,160
Management fee (6) -- 23,381
----------- ----------
Total adjustments $ 39,491 $ 91,040
----------- ----------
Adjusted EBITDA $ 131,062 $ 102,215
=========== ==========
(1) (Represents non-cash share-based compensation to certain
members of our management and full-time employees.
The three months ended March 31, 2024 includes $15.0
million of previously unrecognized share-based compensation
expense related to performance-vesting options under
the 2017 Stock Plan, a portion of which vested upon
completion of the IPO.)
(2) (Represents transaction costs incurred in connection
with planned, completed, or terminated acquisitions,
which include investment banking fees, legal diligence
and related documentation costs, finance and accounting
diligence and documentation; costs associated with
the integration of acquisitions, including any facility
consolidation, integration travel, or severance; and
costs associated with other planned, completed, or
terminated non-routine transactions.)
(3) (Represents costs associated with restructuring-related
activities, including closure, and related license
impairment, and severance expenses associated with
certain enterprise-wide or significant business line
cost-savings measures. These costs include $10.0 million
and $6.1 million of costs that did not meet the criteria
for discontinued operations related to the Community
Living divestiture for the three months ended March
31, 2025 and 2024, respectively. These costs also
include $12.7 million of unamortized debt issuance
costs associated with the extinguishment of our Second
Lien Facility in the three months ended March 31,
2024.)
(4) (Represents settlement and defense costs associated
with certain historical PharMerica litigation matters,
including the Silver matter, all of which were finalized
in 2024. See Note 13 within the unaudited condensed
consolidated financial statements and related notes
in this Quarterly Report on Form 10-Q for additional
information.)
(5) (Represents costs associated with certain transformational
projects and for the periods presented primarily included
general ledger system implementation, pharmacy billing
system implementation, and ransomware attack response
costs, all of which were finalized in 2024.)
(6) (Represents annual management fees payable to the
Managers under the Monitoring Agreement through the
date of the IPO, and $22.7 million of termination
fees resulting from the termination of the Monitoring
Agreement upon completion of the IPO Offerings. All
management fees ceased following the completion of
the IPO in 2024.)
BrightSpring Health Services, Inc. and Subsidiaries
Reconciliation of Adjusted EPS
For the three months ended March 31, 2025 and 2024
(Unaudited)
The following table reconciles diluted EPS to Adjusted
EPS:
(shares in thousands) For the Three Months Ended
March 31,
--------------------------------
2025 2024
--------------- -----------
Diluted EPS from continuing
operations $ 0.05 $ (0.31)
Non-cash share-based compensation
(1) 0.06 0.13
Acquisition, integration, and
transaction-related costs (1) 0.04 0.05
Restructuring and
divestiture-related and other
costs (1) 0.08 0.13
Legal costs and settlements (1) -- 0.06
Significant projects (1) -- 0.01
Management fee (1) -- 0.13
Income tax impact on adjustments
(2) (0.04) (0.11)
----------- ----------
Adjusted EPS $ 0.19 $ 0.09
=========== ==========
Weighted average common shares
outstanding used in calculating
diluted U.S. GAAP net income
(loss) per share 214,927 175,531
Weighted average common shares
outstanding used in calculating
diluted Non-GAAP income (loss) per
share 214,927 186,783
(1) (This adjustment reflects the per share impact of
the adjustment reflected within the definition of
Adjusted EBITDA.)
(2) (The income tax impact of non-GAAP adjustments is
calculated using the estimated tax rate for the respective
non-GAAP adjustment.)
(END) Dow Jones Newswires
May 02, 2025 06:00 ET (10:00 GMT)
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