Bright Horizons acquires Sittercity business » 07:3808/0608/06/20
Bright Horizons announced…
Bright Horizons announced the acquisition of the Sittercity business, an online marketplace for families and caregivers. The acquisition enhances Bright Horizons' current portfolio of family-focused solutions and extends capabilities to serve families and clients with flexible care options, including babysitters and in-person or virtual tutors.
Fly Intel: After-Hours Movers » 18:4808/0508/05/20
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Bright Horizons reports Q2 adjusted EPS 44c, consensus (58c) » 16:1408/0508/05/20
Reports Q2 revenue $294M,…
Reports Q2 revenue $294M, consensus $196.73M. "While this past quarter has been one of the most challenging in the Company's history, I couldn't be more proud of the Bright Horizons team for rising to the challenges presented by the COVID-19 pandemic," said Stephen Kramer, Chief Executive Officer. "We have made incredible progress during the second quarter, and we are excited to be welcoming families and staff back to our centers. The support of our clients through these challenging times has allowed us to provide creative solutions to meet the needs of their employees, while at the same time demonstrating the financial resiliency of our model."
|Over a week ago|
Jefferies consumer services analyst holds analyst/industry conference call » 09:3307/2107/21/20
Consumer Services Analyst, along with Nabil Ahmed, former Senior Public Health Advisor at the CDC and current owner of Integral Global Consulting, discuss the current state of higher education facilities and daycare center re-openings, and the implications of recent virus outbreaks in certain states on an Analyst/Industry conference call to be held on July 21 at 11 am.
|Over a month ago|
Bright Horizons files automatic mixed securities shelf 16:4306/1806/18/20
|Over a quarter ago|
Bright Horizons doesn't expect to provide 2020 guidance » 16:2205/0605/06/20
"At this time, the…
"At this time, the duration and scope of the ongoing business disruption, including the pace of re-opening and ramping temporarily closed centers, cannot be predicted, and is dependent on many interdependent variables and decisions by government authorities and our client partners," the company said. "As previously disclosed, the negative financial impact to our results and future financial or operational performance, including our annual performance for 2020, cannot be reasonably estimated. Therefore, we do not expect to provide financial guidance for fiscal 2020. We will continue to work with our local teams on the operational decisions and prudently managing our spending to support the current operations, while preparing for the re-opening of the remainder of our business. While these are unprecedented circumstances, our value proposition to families, staff and clients remains the same - to provide high-quality child care and early education, dependent care, and workforce education services. These challenging times highlight our crisis management abilities, our critical role in the business continuity plans of our client partners, and the value that our unique service offering provides to the families and clients we serve. We remain confident in our business model, the strength of our client partnerships, the strength of our balance sheet and liquidity position, and in our ability to respond to changing market conditions."
Bright Horizons reports Q1 adjusted EPS 74c, consensus 75c » 16:2205/0605/06/20
Reports Q1 revenue $506M,…
Reports Q1 revenue $506M, consensus $504.1M. "The COVID-19 pandemic has created conditions unlike anything our business has ever experienced, but it has also highlighted our deep commitment to our clients and communities, and most importantly the role Bright Horizons plays in supporting working parents," said Stephen Kramer, Chief Executive Officer. "We are proud and grateful for the opportunity to support front line health care workers and other essential workers by caring for their children so they can be present and focused on their critical work."
Bright Horizons price target raised to $128 from $100 at BMO Capital » 08:3304/2104/21/20
BMO Capital analyst…
BMO Capital analyst Jeffrey Silber raised the firm's price target on Bright Horizons to $128 from $100 and keeps an Outperform rating on the shares. The analyst notes that while the company's $250M stock purchase agreement with Durable Capital Master Fund - likely founded by a long-time shareholder at a prior firm - may be dilutive in the short term, longer term it serves to mitigate balance sheet concerns associated with the stock. Silber cuts his FY20 EPS view by 5c to $1.85 and his FY21 view by 20c to $3.60, but sees a reduction of risk in Bright Horizon shares.
Bright Horizons price target raised to $135 from $95 at Baird » 08:0004/2104/21/20
Baird analyst Jeffrey…
Baird analyst Jeffrey Meuler raised the firm's price target on Bright Horizons to $135 from $95 and keeps an Outperform rating on the shares. The analyst likes the risk/reward of its $250M equity sale which gives it substantial liquidity to manage through the previous;y announced material shutdowns. Meuler believes its company model will remain intact ans revenues can experience a very rapid and fairly full recovery.
Bright Horizons enters into $250M stock purchase agreement » 06:2304/2104/21/20
In a regulatory filing…
In a regulatory filing yesterday, Bright Horizon announced that on "April 19, 2020, Bright Horizons Family Solutions entered into a stock purchase agreement with Durable Capital Master Fund LP, related to the issuance and sale by the Company to the Investor of 2,138,580 shares of unregistered common stock, par value $0.001 per share, of the Company, at a price of $116.90 per share. The gross proceeds to the Company from the Offering are expected to be approximately $250 million. The Offering is expected to close on or about April 21, 2020, subject to the satisfaction of customary closing conditions."