BrightSpring raises 2026 outlook after higher third-quarter revenue and cash flow
BrightSpring reported $4.213 billion of third-quarter revenue, stronger profitability and operating cash flow, then raised its full-year 2026 revenue and adjusted EBITDA guidance.
BrightSpring Health Services reported third-quarter 2026 revenue of $4.213 billion, up 26.4% from a year earlier, and raised its full-year outlook as pharmacy and provider operations expanded.
Revenue and profitability
Revenue increased from the year-earlier quarter to $4.213 billion. Adjusted EBITDA rose to $227.8 million from $160.4 million, while net income from continuing operations reached $100.8 million versus $37.5 million a year earlier. The company said the reported period excludes the Community Living business, which was divested on 30 March 2026.
Cash flow and balance sheet
Operating cash flow was $204.3 million, compared with $107.9 million in the third quarter of 2025. Capital expenditures were $22.1 million, implying approximately $182.2 million of operating cash flow less capital spending. Cash and cash equivalents stood at $717.8 million at 30 September 2026. These figures describe reported cash generation; the release does not present a consensus cash-flow comparison.
Raised 2026 guidance
BrightSpring raised full-year 2026 guidance to $15.900–$16.125 billion of revenue and $850–$860 million of adjusted EBITDA. It also guided to pharmacy revenue of $14.0–$14.2 billion and provider revenue of $1.9–$1.925 billion. The guidance is company-provided and remains subject to the assumptions disclosed in its release and filing.
What to monitor
- Whether the pharmacy and provider mix supports the raised EBITDA range through the fourth quarter.
- Cash conversion and capital spending as the company executes its post-divestiture structure.
- The company’s subsequent filings for any changes to leverage, liquidity or guidance assumptions.
The reported results and outlook are company disclosures. They are not a recommendation or a forecast beyond the guidance stated by BrightSpring.
Q3 revenue
$4.213B
↑ +26.4% YoY reported
Adjusted EBITDA
$227.8M
↑ +42.0% YoY reported
Operating cash flow
$204.3M
↑ vs $107.9M Q3 2025
Cash balance
$717.8M
30 Sep 2026
Sources
Quarterly revenue, BrightSpring Health Services
Margins by quarter
Twelve quarters of figures
| Quarter | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.6B | $2.7B | $2.9B | $2.7B | $2.9B | $3.1B | $3.3B | $3.6B | $3.6B | $3.9B |
| Revenue growth | — | — | — | — | 11.7% | 15.3% | 14.7% | 29.3% | 25.6% | 23.1% |
| Gross margin | 11.4% | 11.4% | 11.1% | 12.3% | 11.8% | 11.9% | 11.8% | 11.6% | 13.3% | 12.7% |
| Operating margin | −0.6% | 1.4% | 1.0% | 2.0% | 1.8% | 1.5% | 2.6% | 3.0% | 3.4% | 3.4% |
| Net income | −$45.8M | $19.9M | −$8.2M | $16.0M | $29.5M | $28.2M | $55.8M | $77.1M | $149M | $84.3M |
| Diluted EPS | −$0.26 | $0.10 | −$0.04 | $0.09 | $0.14 | $0.13 | $0.26 | $0.35 | $0.67 | $0.38 |
| Cash from operations | −$78.9M | −$15.2M | $27.2M | $90.6M | $102M | $49.1M | $108M | $232M | $123M | $43.9M |
| Capital expenditure | $21.8M | $23.7M | $20.0M | $15.3M | $17.6M | $24.4M | $15.8M | $37.7M | $21.5M | $29.0M |
| Free cash flow | −$101M | −$39.0M | $7.2M | $75.3M | $84.0M | $24.7M | $92.2M | $194M | $101M | $14.9M |
| Dividends and buybacks | $0.3M | $0.3M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $60.0M | $60.0M |
This story describes figures the company has published. It is for information only and is not investment advice or a recommendation to buy, sell or hold any security. Check the original filings before relying on any figure. Stoqly is not affiliated with the SEC or BrightSpring Health Services.
