Option Care Health (BIOS) Q3 Earnings Meet, Revenues Top
Zacks Investment Research | Nov 06, 2019 11:18PM ET
BioScrip has finally completed its long-awaited merger with Option Care to form a publicly traded infusion service provider, Option Care Health, Inc. (NASDAQ:BIOS) . This consolidated entity is currently on course to become the nation's largest independent provider of infusion services in the alternate site setting.
Recently, Option Care Health came out with third-quarter earnings release along with certain updates related to the ongoing integration.
Q3 Results
Option Care Health incurred an adjusted loss of a penny per share in third-quarter 2019, in line with the Zacks Consensus Estimate. Meanwhile, the figure is narrower than the year-ago loss of 9 cents.
GAAP net loss was 7 cents per share, reflecting a significant drop from the break-even level a year ago.
Revenues
Net revenues of $615.9 million in the third quarter rose 24.7% year over year, up 2.3% on a comparable basis.The figure also exceeded the Zacks Consensus Estimate by 18%.
Margins
In the third quarter, gross profit improved 27.3% to $137.8 million. Also, gross margin expanded 45 basis points (bps) to 22.4%.Although the company is yet to start realizing the merger-related synergies to a material extent, the reporting of positive gross margin is an indication of its successful execution of operational efficiencies.
Option Care Health, Inc. Price, Consensus and EPS Surprise
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