BrightSpring Raises 2026 Outlook After Third-Quarter Revenue Grows 26.4% to $4.213 Billion
Key Facts
BrightSpring Health Services reported results for the third quarter ended September 30, 2026, and raised its full-year revenue and adjusted EBITDA guidance. Revenue was $4.213 billion, up 26.4% from $3.334 billion in the same period of 2025. Gross profit rose 32.3% to $519 million from $392 million, while net income from continuing operations increased to $101 million from $38 million a year earlier. Chief Executive John Russo said the results reflect "our team's commitment to patient care and operational execution" across its pharmacy and provider services businesses. The announcement came on the morning of October 30, while the latest available closing price for the stock was $60.22 on October 29, so that price does not reflect trading after the results announcement.
Adjusted EBITDA was $228 million for the quarter, up 42% from $160 million a year earlier. The company describes this measure as non-GAAP, so it should be read alongside net income from continuing operations of $101 million. In the first nine months of 2026, revenue reached $11.7 billion, compared with $9.36 billion in the same period of 2025, a 25% increase. Adjusted EBITDA for the period was also $623 million, versus $434 million, up 44%. The figures show revenue and adjusted earnings growth over the nine months, with third-quarter earnings rising faster than revenue.
Most revenue came from the Pharmacy Solutions segment, which reported $3.732 billion in the third quarter, up 26% from a year earlier. Provider Services generated $481 million, up 31% from $367 million, growing faster than the pharmacy business. Average daily home health census rose to 47,256 from 29,980, an increase of 58% year over year. By contrast, the number of prescriptions dispensed increased 2% to 10,949,875 from 10,793,219. The indicators show a larger expansion in average home health census than in prescriptions dispensed over the same period.
The company raised its full-year 2026 revenue guidance to $15.900–16.125 billion and its adjusted EBITDA range to $850–860 million. In its second-quarter results announcement on July 31, it had set revenue guidance at $15.1–15.425 billion and adjusted EBITDA at $820–845 million. The new guidance raises both estimates from the previous outlook, following a 23% increase in second-quarter revenue to $3.873 billion and a 44.2% rise in adjusted EBITDA to $206 million. The current guidance excludes the divested Community Living business and any future closed acquisitions. The company completed the sale of Community Living to Sevita on March 30, 2026, and the results presented cover continuing operations.
The leverage ratio fell to 1.79 times on September 30, from 2.15 times on June 30, 2026. The company said the Amedisys and LHC branches it acquired are expected to contribute about $35 million to adjusted EBITDA in 2026. These expectations close out the quarter's results with two operational and financial indicators: lower leverage and an expected earnings contribution from the acquisition. BrightSpring reported revenue of $12.911 billion in 2025, up 28.2% from 2024, and adjusted EBITDA of $618 million, an increase of 34.2%. Russo said the company believes it is well positioned to deliver "sustainable growth in 2027 and beyond." The company scheduled its third-quarter results call for October 30, 2026, at 8:30 a.m. Eastern time.