Key Highlights

  • BTSG shares trading up 13.83% to $68.55 today, versus a 52-week high of $73.75.
  • Third quarter Revenue reached $4.213 billion, up 26.4% from a year earlier.
  • Adjusted EBITDA rose 42.0% to $228 million, while adjusted EPS climbed to $0.54 from $0.30.
  • Full-year 2026 adjusted EBITDA guidance now stands at $850 million to $860 million.
  • Leverage fell to 1.79x at September 30, from 2.15x at the end of June.

Third Quarter Beat Pushes BrightSpring Closer to Its 52-Week High

BrightSpring Health Services (NASDAQ:BTSG) shares are trading sharply higher today after the company posted third quarter 2026 results and lifted its full-year outlook. The stock, at $68.55, now sits within about 7% of its 52-week high of $73.75 and well above the low of $30.64.

BrightSpring provides home and community-based services for medically complex populations through pharmacy, home health and rehabilitation operations. The company says it serves roughly 500,000 customers, clients and patients each day across all 50 states.

Revenue for the quarter came in at $4.213 billion, up 26.4% from $3.334 billion in the same period last year. Net Income from continuing operations rose to $101 million from $38 million. Adjusted Earnings Per Share of $0.54 compared with $0.30 a year earlier.

Pharmacy Solutions and Provider Services Both Post Double-Digit Growth

The Pharmacy Solutions segment generated $3.732 billion in revenue, up 26%, with segment EBITDA of $202 million, a 43% increase. The company attributed most of the growth to higher revenue and Gross Profit per prescription, as prescription Volume rose only 2%. The two segments make up all of the company's reported revenue.

Provider Services revenue climbed 31% to $481 million, and segment EBITDA rose 30% to $79 million. Home health average daily census increased 58% from a year earlier.

Operating cash flow was $204.3 million for the quarter and $371.2 million for the first nine months of the year. Cash stood at $717.8 million at September 30, compared with $88.4 million at the end of 2025.

Raised Guidance and Lower Leverage Reshape the Balance Sheet Picture

BrightSpring now expects 2026 revenue of $15.900 billion to $16.125 billion, which implies growth of 23.2% to 24.9%. Adjusted EBITDA is projected at $850 million to $860 million, up between 37.6% and 39.3%. The guidance excludes the Community Living business, which was sold on March 30, 2026, and any future acquisitions that have not yet closed.

The sale brought in $810.9 million of proceeds over the first nine months, and leverage dropped to 1.79x from 2.15x at the end of June. An Acquisition of home health branches is expected to add about $35 million to 2026 adjusted EBITDA.

Based on market data as of October 23, the company carried a market Capitalization of about $12.68 billion, a trailing price-to-earnings ratio of 37.16 and a forward ratio of 29.73. Analyst consensus price targets averaged near $78.94, shown here only as a data point.

What Comes Next After the Guidance Raise and Debt Paydown

BrightSpring's third quarter combined 26.4% revenue growth, a 42.0% jump in adjusted EBITDA and a stronger balance sheet, and the stock is responding with a gain of 13.83% today. The shares remain below the 52-week high, so the next test is whether the pharmacy and home health momentum carries into the fourth quarter and the closing of pending acquisitions, with the company's full-year results expected to show how the raised guidance holds up.