Bright Horizons Family Solutions Inc. (NYSE:BFAM) Q1 2023 Earnings Conference Call May 2, 2023 5:00 PM ET

Company Participants

Michael Flanagan - Senior Director, IR

Stephen Kramer - Chief Executive Officer

Elizabeth Boland - Chief Financial Officer

Conference Call Participants

Andrew Steinerman - JPMorgan

George Tong - Goldman Sachs

Manav Patnaik - Barclays

Toni Kaplan - Morgan Stanley

Jeff Miller - Baird

Faiza Alwy - Deutsche Bank

Thomas Singlehurst - Citi

Operator

Greetings and welcome to the Bright Horizons Family Solutions First Quarter 2023 Earnings Release Conference Call. At this time all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]

As a reminder, this conference is being recorded. It is now my pleasure to introduce your host Michael Flanagan, Senior Director of Investor Relations. Please go ahead.

Michael Flanagan

Thanks, Daisy and welcome to Bright Horizons’ first quarter earnings call. Before we begin, please note that today’s call is being webcast recording will be available under the Investor Relations section of our website brighthorizons.com. As a reminder to participants any forward-looking statements made on this call, including those regarding future business, financial performance, and outlook are subject to the Safe Harbor statement included in our earnings release.

Forward-looking statements inherently involve risks and uncertainties that may cause actual operating and financial results to differ materially and are described in detail in our 2022 Form 10-K and other SEC filings. Any forward-looking statement speaks only as of the date on which it is made and we are going to take no obligation to update any forward-looking statements. We may also refer today to non-GAAP financial measures, which are detailed and reconciled to the GAAP counterparts in our earnings release, which is available under the IR section of our website.

Joining me in today’s call are Chief Executive Officer, Stephen Kramer; and our Chief Financial Officer, Elizabeth Boland. Steve will start by reviewing our first quarter results and provide an update on the business. Elizabeth will follow with more detailed review of the numbers before we open it up to your questions.

With that, let me turn the call over to Steve.

Stephen Kramer

Thanks, Mike and welcome to everyone who has joined the call. I am very pleased with our performance in the first quarter. We delivered 20% year-over-year revenue growth with contributions from all of our segments. Our enrollment recovery continues to progress positively with notably strong performance in the U.S. and in our younger age groups.