Bright Horizons Family Solutions Inc. (NYSE:BFAM) Q2 2024 Results Conference Call August 1, 2024 5:00 PM ET

Company Participants

Michael Flanagan - Vice President, Investor Relations
Stephen Kramer - Chief Executive Officer
Elizabeth Boland - Chief Financial Officer

Conference Call Participants

George Tong - Goldman Sachs
Manav Patnaik - Barclays
Andrew Steinerman - JPMorgan
Jeff Meuler - Baird
Josh Chan - UBS
Jeff Silber - BMO Capital Markets
Harold Antor - Jefferies
Toni Kaplan - Morgan Stanley
Faiza Alwy - Deutsche Bank

Operator

Greetings, and welcome to Bright Horizons Family Solutions Second Quarter 2024 Earnings 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, Mr. Michael Flanagan, Vice President, Investor Relations. Thank you, Mr. Flanagan, you may begin.

Michael Flanagan

Thank you, Raju, and welcome to Bright Horizons second quarter earnings call. Before we begin, please note that today's call is being webcast and a 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 the actual operating and financial results to differ materially and should be considered in conjunction with the cautionary statements that are described in detail in our earnings release, our 2023 Form 10-K and other SEC filings.

Any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statements. We also refer to these non-GAAP financial measures, which are detailed and reconciled to their GAAP counterparts in our earnings release, which is available under the IR section of our website at investors.brighthorizons.com.

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

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

Stephen Kramer

Thanks, Mike, and welcome to everyone who's joined the call. I am really pleased with our performance in the second quarter and first half of 2024. Revenue growth remained strong in both full service and back-up care and adjusted EPS growth of nearly 40% outpaced our expectations through better operational efficiency across all three of our segments.