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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 (NYSE: BFAM) has been recognized by PEOPLE magazine and Great Place to Work® as one of the 2021 Companies that Care®. This marks the company's first appearance on this prestigious list, celebrating organizations that excel in business while prioritizing employee welfare and community support. Key initiatives include the FirstRespondersFirst program, which provided free childcare during the pandemic, and the Horizons Teacher Degree Program, which enables employees to earn degrees in early childhood education at no cost.
Bright Horizons (NYSE: BFAM) has announced a new COVID-19 safety policy requiring employees at U.S. child care centers to be vaccinated or undergo weekly testing, starting September. The company emphasizes health and safety, offering a $100 incentive for vaccinations. Stringent protocols will remain in place, including daily health checks and mask requirements. This move aims to protect staff and children amid the ongoing pandemic. Bright Horizons, a leader in early education and child care, supports over 1,000 centers across the U.S. and beyond.
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Bright Horizons Family Solutions (BFAM) reported financial results for Q2 2021, showing significant growth compared to Q2 2020. Revenue increased by 50% to $441 million, driven by higher enrollment in child care centers as operations ramped up post-COVID-19. Income from operations surged by 319% to $34 million, and net income rose to $19 million, with diluted EPS of $0.31. Adjusted EBITDA was $68 million, up 13%. Despite improvements, back-up care services saw revenue declines. The company maintains a strong balance sheet with $419 million in cash as of June 30, 2021.
Bright Horizons Family Solutions® Inc. (NYSE: BFAM) will announce its financial results for Q2 2021 on August 4, 2021, post-market close. A conference call will follow at 5:00 p.m. ET, hosted by CEO Stephen Kramer, to discuss performance and updated business strategies. Interested parties can listen in via specified phone numbers, and a replay will be available until August 25, 2021. The earnings release and audio webcast will be accessible on the Company's Investor Relations website: www.brighthorizons.com.
Bright Horizons has joined the OneTen initiative aimed at upskilling, hiring, and promoting one million Black Americans over the next decade. The company acknowledges the higher unemployment rates for Black Americans and intends to leverage its expertise to create career pathways. Bright Horizons has launched the Horizons Teacher Degree Program to help its employees in early childhood education. The firm has received recognition for its diversity and inclusion efforts, appearing on various prestigious lists for promoting workforce equity.
Bright Horizons (NYSE: BFAM) announces an extension of free child care for individuals receiving COVID-19 vaccines through Labor Day. This initiative, in collaboration with the White House, aims to boost vaccination rates among American adults. The program allows employees of participating companies to access back-up child care during their vaccination process. Bright Horizons has engaged with employers representing over 10 million Americans. Additionally, the company incentivizes its staff with $100 for getting vaccinated and conducts research on COVID-19's impact on working parents.
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.