Option Care Health (OPCH) Q1 FY2024 earnings: revenue $1.1 billion, up 12.8% on the year

Option Care Health, Inc. (OPCH) reported revenue of $1.1 billion for Q1 FY2024, the quarter ended 31 March 2024, up 12.8% on the same quarter a year earlier. Net income was $45 million, up 14.2% on the year, and diluted earnings per share $0.26. The figures are the company's own, from the 10-Q it filed with the SEC on 29 April 2025.

Revenue$1.1 billionup 12.8%

Net income$45 millionup 14.2%

Diluted EPS$0.26

QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	1,146	1,124	n/a	n/a
Cost of revenue	908	877	n/a	n/a
Gross profit	238	247	n/a	n/a
Gross margin	20.8%	22.0%	n/a
Selling, general and administrative	155	148	n/a	n/a
Operating income	69.0	84.6	n/a	n/a
Operating margin	6.0%	7.5%	n/a
Interest expense	13.2	12.4	n/a	n/a
Pre-tax income	57.0	78.9	n/a	n/a
Income tax	12.2	21.7	n/a	n/a
Effective tax rate	21.4%	27.6%	n/a
Net income	44.8	57.2	n/a	n/a
Net margin	3.9%	5.1%	n/a
Diluted EPS	$0.26	$0.32	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	-68.8	51.0	n/a	n/a
Capital expenditure	5.8	19.9	n/a	n/a
Free cash flow	-74.6	31.1	n/a	n/a
Free cash flow margin	-6.5%	2.8%	n/a
Cash from investing	-5.8	-15.8	n/a	n/a
Cash from financing	-49.7	-77.8	n/a	n/a
Depreciation and amortisation	14.7	14.8	n/a	n/a
Share-based compensation	9.6	7.6	n/a	n/a
Buybacks	40.0	75.2	n/a	n/a
Diluted shares, weighted	176m	178m	n/a	n/a
Shares outstanding at period end	174m	175m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Shareholders' equity	1,429	1,422	n/a	n/a
Debt	1,062	1,063	n/a	n/a
Operating lease liabilities	89.2	85.5	n/a	n/a
Other liabilities	669	647	n/a	n/a
Total liabilities and equity	3,250	3,217	n/a	n/a
Fixed assets	121	121	n/a	n/a
Goodwill	1,540	1,540	n/a	n/a
Intangible assets	327	335	n/a	n/a
Cash and equivalents	220	344	n/a	n/a
Receivables	574	378	n/a	n/a
Inventory	242	274	n/a	n/a
Other assets	226	225	n/a	n/a
Total assets	3,250	3,217	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025 †	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,093	1,124	1,146	1,227	1,279	1,346	1,333	1,416	1,435	1,465	1,351	1,442
Cost of revenue	839	877	908	978	1,022	1,078	1,070	1,147	1,162	1,183	1,089	1,175
Gross profit	254	247	238	249	257	268	263	269	273	283	262	267
Gross margin	23%	22%	21%	20%	20%	20%	20%	19%	19%	19%	19%	19%
SG&A	158	148	155	154	157	165	168	170	172	172	175	165
Operating income	81.0	84.6	69.0	80.7	85.1	87.0	79.2	82.7	84.5	91.5	72.5	85.1
Operating margin	7%	8%	6%	7%	7%	6%	6%	6%	6%	6%	5%	6%
Interest expense	11.8	12.4	13.2	12.6	12.3	10.9	13.2	14.4	14.1	12.7	13.3	14.0
Pre-tax income	70.1	78.9	57.0	72.0	73.6	81.0	63.6	68.9	69.0	81.5	61.0	74.0
Tax rate	20%	28%	21%	26%	27%	26%	26%	27%	25%	28%	26%	27%
Net income	56.3	57.2	44.8	53.0	53.9	60.1	46.7	50.5	51.8	58.5	45.3	53.9
Net margin	5%	5%	4%	4%	4%	4%	4%	4%	4%	4%	3%	4%
Diluted EPS	$0.31	$0.32	$0.26	$0.30	$0.31	$0.36	$0.28	$0.31	$0.32	$0.37	$0.29	$0.35
Operating cash flow	61.0	51.0	-68.8	196	160	36.1	-7.2	90.3	139	35.9	-12.1	184
Capital expenditure	8.4	19.9	5.8	9.8	9.7	10.3	9.4	9.1	9.2	13.6	9.0	11.1
Free cash flow	52.6	31.1	-74.6	186	151	25.8	-16.6	81.2	130	22.2	-21.2	173
Buybacks	100	75.2	40.0	78.1	42.0	92.6	n/a	n/a	62.5	n/a	n/a	n/a
Shares outstanding	177m	175m	174m	171m	170m	166m	164m	162m	160m	157m	157m	150m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2024, filed 29 April 2025, accession 0001014739-25-000022: the filing on EDGAR. All of Option Care Health, Inc.'s filings: EDGAR company page.

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