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Option Care sees double-digit Q4 growth, announces stock buy back

Option Care sees double-digit Q4 growth, announces stock buy back

John RademacherBANNOCKBURN, Ill. – Option Care Health reported net revenue of $1.2 billion for the fourth quarter 2022, up 10.8% compared to $927.2 million in the fourth quarter of 2021. 

Gross profit was $231.1 million, or 22.5% of revenue, up 8.9% compared to $212.2 million, or 22.9% of revenue, in the fourth quarter of 2021; and net income was $47.5 million, or $0.26 earnings per share, inclusive of the impact from the sale of certain of the company's respiratory therapy assets. 

“The Option Care Health team's commitment to high-quality, cost-effective care produced solid financial results in 2022,” said John Rademacher, CEO. “The strength and resilience of our technology-enabled national network has enabled our ability to navigate market dynamics, execute on organic growth opportunities and to capitalize on strategic investments. We are proud of the financial results we delivered and look to continue to build on this momentum in 2023 as we focus on providing extraordinary patient care in the post-acute and ambulatory settings.” 

Option Care announced today that it plans to buy back up to $250 million shares of its common stock. The extent to which the company repurchases shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, regulatory requirements and other corporate considerations. 

“We continue to believe that disciplined pursuit of acquisitions continues to represent an attractive strategy to deploy capital in an accretive manner,” said Mike Shapiro, CFO. “We believe the authorization to repurchase common stock provides additional flexibility and optionality as we focus on capital deployment.” 

Full Year 2022 Financial Highlights 

  • Net revenue of $3,944.7 million, up 14.7% compared to $3,438.6 million in full year 2021 
  • Gross profit of $866.9 million, or 22.0% of revenue, up 11.2% compared to $779.6 million, or 22.7% of revenue, in full year 2021 
  • Net income of $150.6 million, or $0.83 basic earnings per share, compared to net income of $139.9 million, or $0.78 basic earnings per share, in full year 2021 
  • Adjusted EBITDA of $342.9 million, up 18.3% compared to $289.8 million in full year 2021.


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