Strong Earnings and Revenue Growth
Revenue for the quarter increased 7% to $666 million, and adjusted EPS grew 51% to $0.77 per share, exceeding expectations.
Full-Service Child Care Business Expansion
Full-service child care business grew 6% to $511 million, with operating margins expanding 210 basis points to 6.5%.
Backup Care Revenue Increase
Backup care revenue increased 12% to $129 million, with a 95% client retention rate and many new client launches, including University of Michigan and Sherwin-Williams.
Education Advisory Business Growth
Education advisory business grew 8% to $26 million, with strong participant engagement and new client additions like Tower Health and Tiffany's.
Improved UK Operations
The UK operations showed strong progress in enrollment and staff retention, with a clear path to earnings break-even in 2025.
Raised Revenue Growth Guidance
Revenue growth guidance was raised to a range of 6.5% to 8.5%, reflecting favorable changes in foreign exchange rates.