By Owen Tucker-Smith
Option Care Health shares surged Monday after the company forecast fourth-quarter earnings and full-year guidance ahead of Wall Street expectations.
The stock was recently up 15.05% to $27.60 in premarket trading. It previously closed at $23.99.
The Illinois-based health care company said it expects fourth-quarter earnings between $56.8 million and $60.9 million, or 33 cents to 36 cents per share.
On an adjusted basis, Option Care expects quarterly earnings per share of 42 cents to 45 cents. Wall Street analysts expected adjusted earnings of 35 cents per share, according to FactSet.
Option Care expects fourth-quarter revenue of $1.34 billion to $1.35 billion, representing year-over-year growth of between 19.2% and 20.1% Analysts had expected $1.27 billion in revenue.
For the current year, Option Care forecast adjusted earnings per share between $1.59 and $1.69 on revenue of $5.2 billion to $5.4 billion. Analysts expected adjusted earnings of $1.32 a share on $5.24 billion in revenue.
Option Care also said its board approved a new $500 million stock repurchase program.
Write to Owen Tucker-Smith at owen.tucker-smith@wsj.com
(END) Dow Jones Newswires
January 13, 2025 09:41 ET (14:41 GMT)
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