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Bright Horizons Family Solutions Inc. reports recurring developments around employer-sponsored early education and child care, back-up child and elder care, and workforce education services. The company serves employers and working families through full-service center-based child care, back-up care, and educational advisory services, with news often tied to service utilization, center enrollment, pricing, client demand, and technology investments.
Company updates also include quarterly results, financial guidance, earnings calls, and research on working parents and family-care needs. Coverage commonly connects the company’s operating performance to its employer benefit model and to demand for child care, elder care, and education support across life and career stages.
Bright Horizons EdAssist Solutions has launched a Learning Advisory Board featuring senior executives from major employers including Allstate and Bank of America. This initiative aims to tackle workforce skill gaps and enhance employee upskilling and reskilling strategies. The board will discuss vital topics such as workforce education strategies, talent marketplaces, and personalized learning experiences. The move underscores the growing need for effective education and support to improve employee job prospects amid ongoing challenges in the labor market.
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Bright Horizons (NYSE: BFAM) has partnered with the White House to provide free child care for parents getting vaccinated against COVID-19, aiming to reach 70% vaccination by July 4. This initiative supports employees of major companies like Mars and Levi Strauss, enabling them to secure child care during vaccination appointments. Additionally, Bright Horizons offers a $100 incentive for its staff to get vaccinated, and conducts research on COVID-19's impact on parents and children's development. This free service is available through July 4.
Bright Horizons announced a virtual National Hiring Day on May 26th to recruit Teachers and Associate Teachers nationwide. The company offers hundreds of full-time and part-time positions in early education. Notably, Bright Horizons provides a Horizons Teacher Degree Program enabling educators to earn college degrees for free. Over 2,000 teachers have enrolled in this unique benefit. The hiring event features recruiters available for one-on-one conversations and same-day interviews for applicants. Bright Horizons, recognized as one of FORTUNE's '100 Best Companies to Work For,' emphasizes career growth and extensive employee benefits.
Bright Horizons Family Solutions (NYSE: BFAM) reported its Q1 2021 financial results, showing a 23% decrease in revenue to $391 million compared to Q1 2020. Net income fell 77% to $7 million, with diluted earnings per share at $0.12. Adjusted EBITDA also decreased by 43% to $46 million. Despite these declines, the company maintains a strong balance sheet with $442 million in cash. The CEO expressed confidence in the recovery post-COVID-19 but refrained from providing earnings guidance due to ongoing uncertainties.
Bright Horizons announced over 2,000 childcare teachers have enrolled in its Horizons Teacher Degree Program, offering a no-cost path to an associate or bachelor’s degree in early childhood education. Launched in July 2018, the program has gained popularity, with 70% of participants employed for 5 years or less and 50% identifying as Black/African American or Hispanic/Latino. Bright Horizons has partnered with St. Philip’s College, an HBCU, enhancing its commitment to diversity. The program aims to elevate early childhood education standards, benefiting both employees and the broader educational field.
Bright Horizons Family Solutions (NYSE: BFAM) will announce its Q1 2021 results on May 5, 2021, post-market close. A conference call led by CEO Stephen Kramer is scheduled for 5:00 p.m. ET to present the company's financial performance and updated business outlook. Interested individuals can join the call at 1-866-269-4260 (1-323-347-3277 for international calls). The call will be available for replay until May 26, 2021. Detailed information, including the earnings release and audio webcast, can be found on www.brighthorizons.com.
The Bright Horizons seventh-annual Modern Family Index reveals growing concerns among working parents post-COVID-19. Key findings show 79% worry about their children’s perception of a healthy childhood, with significant concerns regarding social and emotional development (76%) and academic performance (30% of parents say children are falling behind). Parents desire more employer support, including childcare (46%) and tutoring (27%). The report highlights a shift in employer-employee dynamics, emphasizing the need for genuine family support over traditional perks.
Bright Horizons Family Solutions (NYSE: BFAM) reported a challenging fourth quarter and full year for 2020. Revenue fell to $377 million, an 28% decrease year-over-year, with net income down to $3 million or $0.04 per diluted share, marking a 95% decline. Full-year revenue was $1.5 billion, 27% lower than 2019. Despite a solid balance sheet, the ongoing impacts of COVID-19 hinder operational recovery. The company remains cautious, unable to provide 2021 guidance due to uncertainties surrounding enrollment and reopening plans.
Bright Horizons EdAssist Solutions has identified the top healthcare employers providing comprehensive education benefits, recognizing them as “The Smartest Healthcare Organizations in Workforce Education.” The recognition highlights employers like Atrium Health and NewYork-Presbyterian, who support employees in advancing their education through tuition assistance and financial coaching. Key metrics include 94% retention rates at Kennedy Krieger and over 2,500 support beneficiaries at Atrium Health since July 2020. The initiative underscores the growing importance of education in enhancing workforce motivation and security, especially during the pandemic.