Option Care Health, Inc. (NASDAQ:OPCH) Q3 2024 Earnings Conference Call October 30, 2024 8:30 AM ET

Company Participants

Nicole Maggio – Senior Vice President-Finance
John Rademacher – President and Chief Executive Officer
Mike Shapiro – Chief Financial Officer

Conference Call Participants

David MacDonald – Truist
Constantine Davides – Citizens JMP Securities
Lisa Gill – JPMorgan
Matt Larew – William Blair
Brian Tanquilut – Jefferies
Jamie Perse – Goldman Sachs
Pito Chickering – Deutsche Bank
Joanna Gajuk – Bank of America

Operator

Good day and thank you for standing by. Welcome to the Option Care Health Third Quarter 2024 Earnings Conference Call. At this time all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today inference is being recorded.

I would now like to hand the conference over to your first speaker today, Nicole Maggio, Senior Vice President of Finance.

Nicole Maggio

Good morning. 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 and latest Form 10-Q 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 this 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 will turn the call over to John Rademacher, President and Chief Executive Officer.

John Rademacher

Thanks, Nicole, and good morning, everyone. There have been quite a few developments for Option Care Health over the past 90 days, so I'd like to jump right in. Overall, the third quarter results were quite encouraging and generally consistent with how we've expected the quarter to materialize. Mike will provide additional color in a few minutes. But we continue to deliver double-digit revenue growth and sequential improvement in gross profit dollar generation through our organic growth initiatives.

While we have substantially recovered operationally from the Change Healthcare incident that we discussed in the past, we continue our efforts to catch up on patient payment obligations which remain impacted and delayed from the disruption earlier in the year. In addition to solid revenue and earnings results, even with the delayed collections from patients, cash flow generation continues to be strong and we finished the quarter with a net debt-to-EBITDA leverage ratio of 1.5x, the lowest reported level since our merger with BioScrip in 2019.