Option Care Health, Inc. (NASDAQ:OPCH) Q2 2022 Earnings Conference Call July 27, 2022 8:30 AM ET

Company Participants

Michael Shapiro - CFO & SVP

John Rademacher - CEO, President & Director

Conference Call Participants

Lisa Gill - JPMorgan Chase & Co.

David MacDonald - Truist Securities

Matthew Larew - William Blair & Company

Joanna Gajuk - Bank of America Merrill Lynch

Philip Chickering - Deutsche Bank

Operator

Good day, and thank you for standing by. Welcome to the Option Care Health 2022 Earnings Conference Call. [Operator Instructions]. Please be advised that today's conference is being recorded.

I would now like to hand the call over to our speaker today, Mr. Mike Shapiro. Go ahead.

Michael Shapiro

Good morning. Before we begin, please note that today's discussion will include certain forward-looking statements that reflect our current assumptions and expectations, including those related to our future financial performance and industry and market conditions. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations. We encourage you to review the information in today's press release as well as in our Form 10-K filed with the SEC regarding the specific risks and uncertainties. We do not undertake any duty to update any forward-looking statements except as required by law.

During the call, we will use non-GAAP financial measures when talking about the company's performance and financial condition. You can find additional information on these non-GAAP measures in this morning's press release posted on the Investor Relations portion of our website.

With that, I'll turn the call over to John Rademacher, Chief Executive Officer.

John Rademacher

Thanks, Mike, and good morning, everyone. Overall, we are very pleased with the progress we have made in the second quarter and the financial results we delivered as reported this morning. Despite operating in a very dynamic environment, our team continues to execute our plans to realize our purpose of providing extraordinary care that changes lives. In the quarter, we increased the number of patients we serve and who entrust us with their care in the home or one of our alternate infusion sites.

Throughout the second quarter, we also made strong progress on several fronts of our focused strategy. As Mike will outline in a few minutes, we delivered low teens revenue growth and mid-teens EBITDA growth, and translated that into strong cash flow. We continue to navigate a very difficult labor market and inflationary dynamics which presents challenges on a daily basis, yet we were able to leverage our strong infrastructure and continue our track record of delivering strong EBITDA growth and expanding EBITDA margins. And at the same time, we invested for the future growth, having closed on our acquisition of Specialty Pharmacy Nursing Network or SPIN early in the second quarter and opened 6 new infusion centers in key markets across the country.