$BTSG
BrightSpring Health Services, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024051607 Filed on May 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $2.730B $2.577B $2.375B
YoY Change -34.92% 27.03% 20.5%
Cost Of Revenue $2.341B $2.207B $2.006B
YoY Change -32.89% 30.32% 22.83%
Gross Profit $389.0M $369.4M $368.7M
YoY Change -44.96% 10.36% 9.2%
Gross Profit Margin 14.25% 14.34% 15.53%
Selling, General & Admin $326.6M $361.3M $300.5M
YoY Change -43.26% 27.61% 4.1%
% of Gross Profit 83.96% 97.82% 81.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $50.07M $48.92M $51.01M
YoY Change -50.2% -4.31%
% of Gross Profit 12.87% 13.24% 13.84%
Operating Expenses $326.6M $361.3M $300.5M
YoY Change -43.26% 27.61% 4.1%
Operating Profit $62.41M $8.067M $68.26M
YoY Change -52.42% -84.35% 39.25%
Interest Expense $52.44M $65.02M -$83.05M
YoY Change -133.22% -16.83% 9.69%
% of Operating Profit 84.02% 806.0% -121.67%
Other Income/Expense, Net
YoY Change
Pretax Income $9.975M -$69.68M -$14.79M
YoY Change -137.37% 161.73% -71.64%
Income Tax -$9.466M -$23.29M -$7.591M
% Of Pretax Income -94.9%
Net Earnings $19.92M -$45.75M -$6.537M
YoY Change -214.52% 113.97% -88.36%
Net Earnings / Revenue 0.73% -1.78% -0.28%
Basic Earnings Per Share $0.10 -$0.26
Diluted Earnings Per Share $0.10 -$0.26 -$0.06
COMMON SHARES
Basic Shares Outstanding 171.3M 175.5M
Diluted Shares Outstanding 209.0M 175.5M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.03M $58.04M $13.07M
YoY Change 122.34%
Cash & Equivalents $25.03M $58.04M $13.07M
Short-Term Investments
Other Short-Term Assets $26.24M $30.91M $30.02M
YoY Change 3.33%
Inventory $374.3M $373.7M $402.8M
Prepaid Expenses
Receivables $984.8M $990.6M $881.6M
Other Receivables $111.6M $119.5M $129.2M
Total Short-Term Assets $1.522B $1.573B $1.457B
YoY Change 10.7%
LONG-TERM ASSETS
Property, Plant & Equipment $245.6M $245.7M $245.9M
YoY Change -50.09%
Goodwill $2.626B $2.609B $2.608B
YoY Change
Intangibles $851.3M $856.0M $881.5M
YoY Change
Long-Term Investments $681.0K $689.0K $720.0K
YoY Change -7.35%
Other Assets $79.34M $84.59M $72.84M
YoY Change -3.59%
Total Long-Term Assets $4.083B $4.083B $4.076B
YoY Change -0.15%
TOTAL ASSETS
Total Short-Term Assets $1.522B $1.573B $1.457B
Total Long-Term Assets $4.083B $4.083B $4.076B
Total Assets $5.605B $5.656B $5.533B
YoY Change 2.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $669.4M $655.8M $641.6M
YoY Change 51.32%
Accrued Expenses $346.7M $451.8M $492.4M
YoY Change -20.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $48.67M $48.67M $32.27M
YoY Change 18.95%
Total Short-Term Liabilities $1.145B $1.245B $1.248B
YoY Change 24.73%
LONG-TERM LIABILITIES
Long-Term Debt $2.564B $2.515B $3.332B
YoY Change -25.65%
Other Long-Term Liabilities $5.864M $5.733M $5.337M
YoY Change -97.78%
Total Long-Term Liabilities $2.569B $2.521B $3.337B
YoY Change -30.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.145B $1.245B $1.248B
Total Long-Term Liabilities $2.569B $2.521B $3.337B
Total Liabilities $3.999B $4.081B $4.920B
YoY Change -15.18%
SHAREHOLDERS EQUITY
Retained Earnings -$226.2M -$246.1M -$200.3M
YoY Change
Common Stock $1.807B $1.790B $772.5M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.600B $1.567B $584.7M
YoY Change
Total Liabilities & Shareholders Equity $5.605B $5.656B $5.533B
YoY Change 2.58%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income $19.92M -$45.75M -$6.537M
YoY Change -214.52% 113.97% -88.36%
Depreciation, Depletion And Amortization $50.07M $48.92M $51.01M
YoY Change -50.2% -4.31%
Cash From Operating Activities -$15.23M -$78.86M $162.4M
YoY Change -203.63% -297.66% -267.65%
INVESTING ACTIVITIES
Capital Expenditures $23.74M $21.82M $16.83M
YoY Change -38.8% 22.25% -5.52%
Acquisitions $9.394M
YoY Change
Other Investing Activities -$33.95M -$272.0K -$188.0K
YoY Change 41.63% -28.98% -100.12%
Cash From Investing Activities -$57.69M -$30.94M -$17.02M
YoY Change -8.08% 77.16% -111.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $325.0K
YoY Change
Debt Paid & Issued, Net $793.4M
YoY Change 10090.79%
Cash From Financing Activities 39.91M 154.8M -143.9M
YoY Change -12.68% -722.01% 191.27%
NET CHANGE
Cash From Operating Activities -15.23M -78.86M 162.4M
Cash From Investing Activities -57.69M -30.94M -17.02M
Cash From Financing Activities 39.91M 154.8M -143.9M
Net Change In Cash -33.01M 44.97M 1.430M
YoY Change 1291.65% -1936.85% -162.23%
FREE CASH FLOW
Cash From Operating Activities -$15.23M -$78.86M $162.4M
Capital Expenditures $23.74M $21.82M $16.83M
Free Cash Flow -$38.97M -$100.7M $145.6M
YoY Change 61.68% -556.58% -226.93%

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-21382000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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450000
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
145000
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2024Q1 btsg Net Loss Excluding Allocable Redeemable Noncontrolling Interests
NetLossExcludingAllocableRedeemableNoncontrollingInterests
-483000
CY2023Q1 btsg Net Loss Excluding Allocable Redeemable Noncontrolling Interests
NetLossExcludingAllocableRedeemableNoncontrollingInterests
-894000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-46385000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
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CY2024Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
48922000
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
50345000
CY2024Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1769000
CY2023Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
2209000
CY2024Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
6622000
CY2023Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
6216000
CY2024Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4447000
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
5197000
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
24848000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2024Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-13321000
CY2024Q1 us-gaap Gains Losses On Extinguishment Of Debt
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-12726000
CY2024Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-122000
CY2023Q1 us-gaap Gain Loss On Disposition Of Assets1
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CY2024Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
312000
CY2023Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2024Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2024Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2024Q1 us-gaap Increase Decrease In Accounts Payable Trade
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CY2023Q1 us-gaap Increase Decrease In Accounts Payable Trade
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CY2024Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-43430000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
33971000
CY2024Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
1886000
CY2023Q1 us-gaap Increase Decrease In Other Operating Capital Net
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3328000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
39896000
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
21816000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17846000
CY2024Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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9394000
CY2024Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-272000
CY2023Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-383000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2024Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
793353000
CY2023Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
7785000
CY2024Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
656485000
CY2024Q1 btsg Proceeds From Tangible Equity Units Net
ProceedsFromTangibleEquityUnitsNet
389000000
CY2024Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
50700000
CY2023Q1 us-gaap Repayments Of Lines Of Credit
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CY2024Q1 us-gaap Payments Of Debt Issuance Costs
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CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
325000
CY2023Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
89000
CY2024Q1 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
300000
CY2024Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
3081000
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2885000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
154763000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
44966000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2448000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13071000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13628000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
58037000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
11180000
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
60282000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
72998000
CY2024Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
11186000
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3730000
CY2024Q1 btsg Financing Lease Obligations
FinancingLeaseObligations
3004000
CY2023Q1 btsg Financing Lease Obligations
FinancingLeaseObligations
2883000
CY2024Q1 btsg Repurchases Of Common Stock In Accounts Payable
RepurchasesOfCommonStockInAccountsPayable
325000
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
937000
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3066000
CY2024Q1 btsg Consideration For Purchase Of Redeemable Noncontrolling Interest In Accounts Payable
ConsiderationForPurchaseOfRedeemableNoncontrollingInterestInAccountsPayable
5100000
CY2024Q1 btsg Number Of Tangible Equity Units Issued
NumberOfTangibleEquityUnitsIssued
8000000
CY2024Q1 btsg Tangible Equity Units Rate
TangibleEquityUnitsRate
0.0675
CY2024Q1 btsg Tangible Equity Units Stated Amount Per Unit
TangibleEquityUnitsStatedAmountPerUnit
50
CY2024Q1 btsg Net Proceeds From Tangible Equity Units Issuance
NetProceedsFromTangibleEquityUnitsIssuance
389000000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts and related disclosures. We rely on historical experience and on various other assumptions that we believe to be reasonable under the circumstances to make judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Significant estimates are involved in the valuation of accounts receivable, inventory, long-lived assets, definite and indefinite-lived intangibles, derivatives, insurance reserves, stock-based compensation, and goodwill. Actual amounts may differ from these estimates.</span></p>
CY2024Q1 btsg Service Fees
ServiceFees
15000000
CY2024Q1 btsg Servicing Period
ServicingPeriod
P36M
CY2024Q1 us-gaap Deferred Offering Costs
DeferredOfferingCosts
5600000
CY2023Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
3900000
CY2024Q1 btsg Distribution Of Fund Covid19
DistributionOfFundCovid19
178000000000
CY2024Q1 btsg Amounts Received From The Provider Relief Fund
AmountsReceivedFromTheProviderReliefFund
18804000
CY2024Q1 btsg Amounts Recognized Into Income
AmountsRecognizedIntoIncome
18804000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2028400000
CY2023Q4 us-gaap Goodwill
Goodwill
2608412000
CY2024Q1 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
1123000
CY2024Q1 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-200000
CY2024Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-107000
CY2024Q1 us-gaap Goodwill
Goodwill
2609228000
CY2024Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
40900000
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1301110000
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
563514000
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
737596000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1303463000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
540407000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
763056000
CY2024Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1419530000
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
563514000
CY2024Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
856016000
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
1421883000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
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CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
28600000
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
30800000
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2639632000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2024Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
75823000
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
50177000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
2563809000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
3364214000
CY2024Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
48670000
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
32273000
CY2024Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2515139000
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3331941000
CY2023Q4 btsg Other Assets Gross
OtherAssetsGross
7033000
CY2024Q1 us-gaap Equity Method Investments
EquityMethodInvestments
689000
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
720000
CY2023Q4 us-gaap Deferred Costs
DeferredCosts
3850000
CY2024Q1 btsg Other Assets Gross
OtherAssetsGross
8705000
CY2024Q1 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
2000000000
CY2024Q1 us-gaap Interest Rate Cash Flow Hedge Asset At Fair Value
InterestRateCashFlowHedgeAssetAtFairValue
39100000
CY2023Q4 us-gaap Interest Rate Cash Flow Hedge Asset At Fair Value
InterestRateCashFlowHedgeAssetAtFairValue
24900000
CY2024Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
9600000
CY2023Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
5100000
CY2024Q1 us-gaap Unrealized Gain Loss On Interest Rate Cash Flow Hedges Pretax Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss
29400000
CY2024Q1 btsg Effective Income Tax Rate Reconciliation Expected Percent
EffectiveIncomeTaxRateReconciliationExpectedPercent
0.403
CY2023Q1 btsg Effective Income Tax Rate Reconciliation Expected Percent
EffectiveIncomeTaxRateReconciliationExpectedPercent
0.174
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.069
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.011
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.334
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.163
CY2024Q1 us-gaap Nontrade Receivables Current
NontradeReceivablesCurrent
55952000
CY2023Q4 us-gaap Nontrade Receivables Current
NontradeReceivablesCurrent
67126000
CY2024Q1 btsg Rebate Receivable Current
RebateReceivableCurrent
48849000
CY2023Q4 btsg Rebate Receivable Current
RebateReceivableCurrent
41791000
CY2024Q1 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
14314000
CY2023Q4 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
15300000
CY2024Q1 us-gaap Prepaid Insurance
PrepaidInsurance
12149000
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
13206000
CY2024Q1 btsg Prepaid Maintenance
PrepaidMaintenance
4554000
CY2023Q4 btsg Prepaid Maintenance
PrepaidMaintenance
3619000
CY2024Q1 us-gaap Prepaid Taxes
PrepaidTaxes
422000
CY2023Q4 us-gaap Prepaid Taxes
PrepaidTaxes
4935000
CY2024Q1 btsg Other Prepaid Expenses And Current Assets
OtherPrepaidExpensesAndCurrentAssets
14211000
CY2023Q4 btsg Other Prepaid Expenses And Current Assets
OtherPrepaidExpensesAndCurrentAssets
13190000
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
150451000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
159167000
CY2024Q1 btsg Interest Rate Swaps Non Current
InterestRateSwapsNonCurrent
39134000
CY2023Q4 btsg Interest Rate Swaps Non Current
InterestRateSwapsNonCurrent
24947000
CY2024Q1 btsg Notes Receivable Noncurrent
NotesReceivableNoncurrent
9358000
CY2023Q4 btsg Notes Receivable Noncurrent
NotesReceivableNoncurrent
7840000
CY2024Q1 btsg Cloud Computing
CloudComputing
8754000
CY2023Q4 btsg Cloud Computing
CloudComputing
9453000
CY2024Q1 us-gaap Insurance Receivable For Malpractice Noncurrent
InsuranceReceivableForMalpracticeNoncurrent
8023000
CY2023Q4 us-gaap Insurance Receivable For Malpractice Noncurrent
InsuranceReceivableForMalpracticeNoncurrent
8509000
CY2024Q1 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
6923000
CY2023Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
7137000
CY2024Q1 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
2999000
CY2023Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
3349000
CY2024Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
84585000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
72838000
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
124088000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
127707000
CY2024Q1 btsg Accrued Legal Settlements And Professional Fees Current
AccruedLegalSettlementsAndProfessionalFeesCurrent
115644000
CY2023Q4 btsg Accrued Legal Settlements And Professional Fees Current
AccruedLegalSettlementsAndProfessionalFeesCurrent
114677000
CY2024Q1 us-gaap Compensated Absences Liability
CompensatedAbsencesLiability
34873000
CY2023Q4 us-gaap Compensated Absences Liability
CompensatedAbsencesLiability
32085000
CY2024Q1 btsg Accrued Automobile Insurance Reserves Current
AccruedAutomobileInsuranceReservesCurrent
27598000
CY2023Q4 btsg Accrued Automobile Insurance Reserves Current
AccruedAutomobileInsuranceReservesCurrent
27381000
CY2024Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
25856000
CY2023Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
30848000
CY2024Q1 btsg Accrued Recoupment Fees Current
AccruedRecoupmentFeesCurrent
24949000
CY2023Q4 btsg Accrued Recoupment Fees Current
AccruedRecoupmentFeesCurrent
36071000
CY2024Q1 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
21299000
CY2023Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
22480000
CY2024Q1 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
12401000
CY2023Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
13452000
CY2024Q1 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
7836000
CY2023Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
9305000
CY2024Q1 btsg Accrued General And Professional Liability Insurance Reserves Current
AccruedGeneralAndProfessionalLiabilityInsuranceReservesCurrent
3724000
CY2023Q4 btsg Accrued General And Professional Liability Insurance Reserves Current
AccruedGeneralAndProfessionalLiabilityInsuranceReservesCurrent
22738000
CY2024Q1 us-gaap Interest Payable Current
InterestPayableCurrent
3504000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
3125000
CY2024Q1 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
2650000
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
2650000
CY2024Q1 btsg Accrued Checks In Excess Of Cash Balance Current
AccruedChecksInExcessOfCashBalanceCurrent
609000
CY2023Q4 btsg Accrued Checks In Excess Of Cash Balance Current
AccruedChecksInExcessOfCashBalanceCurrent
9018000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
46754000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
40826000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
451785000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
492363000
CY2024Q1 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
28635000
CY2023Q4 us-gaap Workers Compensation Liability Noncurrent
WorkersCompensationLiabilityNoncurrent
30514000
CY2024Q1 btsg General And Professional Liability Insurance Reserves Long Term Liabilities Noncurrent
GeneralAndProfessionalLiabilityInsuranceReservesLongTermLiabilitiesNoncurrent
28221000
CY2023Q4 btsg General And Professional Liability Insurance Reserves Long Term Liabilities Noncurrent
GeneralAndProfessionalLiabilityInsuranceReservesLongTermLiabilitiesNoncurrent
28350000
CY2024Q1 btsg Legal Settlements And Professional Fees Long Term Liabilities Noncurrent
LegalSettlementsAndProfessionalFeesLongTermLiabilitiesNoncurrent
10000000
CY2023Q4 btsg Legal Settlements And Professional Fees Long Term Liabilities Noncurrent
LegalSettlementsAndProfessionalFeesLongTermLiabilitiesNoncurrent
10000000
CY2024Q1 btsg Long Term Liabilities Automobile Insurance Reserves Noncurrent
LongTermLiabilitiesAutomobileInsuranceReservesNoncurrent
8526000
CY2023Q4 btsg Long Term Liabilities Automobile Insurance Reserves Noncurrent
LongTermLiabilitiesAutomobileInsuranceReservesNoncurrent
8526000
CY2024Q1 btsg Long Term Liabilities Employee Incentives Noncurrent
LongTermLiabilitiesEmployeeIncentivesNoncurrent
4082000
CY2023Q4 btsg Long Term Liabilities Employee Incentives Noncurrent
LongTermLiabilitiesEmployeeIncentivesNoncurrent
5189000
CY2024Q1 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
2001000
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
2681000
CY2024Q1 us-gaap Deferred Income Noncurrent
DeferredIncomeNoncurrent
1283000
CY2023Q4 us-gaap Deferred Income Noncurrent
DeferredIncomeNoncurrent
1346000
CY2024Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5733000
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5337000
CY2024Q1 btsg Long Term Liabilities Noncurrent
LongTermLiabilitiesNoncurrent
88481000
CY2023Q4 btsg Long Term Liabilities Noncurrent
LongTermLiabilitiesNoncurrent
91943000
CY2024Q1 btsg Litigation Estimated Settlement Amount
LitigationEstimatedSettlementAmount
120000000
CY2023Q4 btsg Litigation Estimated Settlement Amount
LitigationEstimatedSettlementAmount
115000000
CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
27139000
CY2024Q1 btsg Extinguishment Of Redeemable Noncontrolling Interest
ExtinguishmentOfRedeemableNoncontrollingInterest
14981000
CY2024Q1 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
5400000
CY2024Q1 us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
-483000
CY2024Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
6275000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-46385000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-22276000
CY2024Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-635000
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-894000
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-45750000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-21382000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
175531000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
117866000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.26
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
175531000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
117866000
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24202000
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7085000
CY2024Q1 us-gaap Revenues
Revenues
2576638000
CY2024Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
2207247000
CY2024Q1 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
42677000
CY2024Q1 btsg Earnings Before Interest Income Taxes Depreciation And Amortization From Reportable Segment
EarningsBeforeInterestIncomeTaxesDepreciationAndAmortizationFromReportableSegment
170086000
CY2023Q1 us-gaap Revenues
Revenues
2028378000
CY2023Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1693665000
CY2023Q1 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
44807000
CY2023Q1 btsg Earnings Before Interest Income Taxes Depreciation And Amortization From Reportable Segment
EarningsBeforeInterestIncomeTaxesDepreciationAndAmortizationFromReportableSegment
147627000
CY2024Q1 btsg Earnings Before Interest Income Taxes Depreciation And Amortization From Reportable Segment
EarningsBeforeInterestIncomeTaxesDepreciationAndAmortizationFromReportableSegment
170086000
CY2023Q1 btsg Earnings Before Interest Income Taxes Depreciation And Amortization From Reportable Segment
EarningsBeforeInterestIncomeTaxesDepreciationAndAmortizationFromReportableSegment
147627000
CY2024Q1 btsg Selling General And Administrative Expense Not Allocated At Segment Level
SellingGeneralAndAdministrativeExpenseNotAllocatedAtSegmentLevel
113097000
CY2023Q1 btsg Selling General And Administrative Expense Not Allocated At Segment Level
SellingGeneralAndAdministrativeExpenseNotAllocatedAtSegmentLevel
45727000
CY2024Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
48922000
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
50345000
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
8067000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
51555000
CY2024Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-12726000
CY2024Q1 us-gaap Interest Expense
InterestExpense
65020000
CY2023Q1 us-gaap Interest Expense
InterestExpense
78177000
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-69679000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-26622000
CY2024Q1 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
15.7027-for-one
CY2024Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
15.7027
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
8750000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
137398625
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1500000000
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000000
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01

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