Option Care Health (OPCH) Q4 2024 earnings summary

Executive summary

• Achieved 19.7% revenue growth in Q4 2024 year-over-year, with balanced contributions across the portfolio, especially from rare, orphan, and limited distribution therapies.

• Overcame supply chain challenges, notably IV solution shortages, and maintained uninterrupted patient onboarding.

• Closed the acquisition of IntraMed Plus in January, expanding presence in the Southeast and advanced practitioner model.

• Opened two new state-of-the-art compounding pharmacies in New York City and Tampa to enhance local responsiveness and capacity.

• CEO highlighted continued focus on patient-centered care and optimism for future growth.

Financial highlights

• Q4 2024 net revenue rose 19.7% year-over-year to $1,346.4M; gross profit up 8.6% to $268.4M.

• Q4 Adjusted EBITDA reached $121.6 million, up nearly 9% year-over-year.

• Adjusted EPS for Q4 was $0.44, up 15.8% year-over-year; full-year Adjusted EPS was $1.58, up over 10%.

• Full-year 2024 net revenue grew 16.2% to $4,998.2M; gross profit up 3.2% to $1,013.0M.

• Full-year net income declined to $211.8M (EPS $1.23, down 16.9%); adjusted net income $272.8M (adjusted EPS $1.58, up 10.5%).

Outlook and guidance

• 2025 revenue expected between $5.3 billion and $5.5 billion; Adjusted EBITDA of $450–$470 million; Adjusted EPS of $1.59–$1.69.

• Net interest expense projected at $55–$60 million; effective tax rate at 25–27%.

• At least $320 million in operating cash flow expected for 2025.

• Guidance includes impact of IntraMed Plus acquisition and a $60–$70 million gross profit headwind from Stelara.