Bright Health soars 12% after guiding FY2022 revenue of $6.5B above consensus
Dec. 07, 2021 6:57 AM ETBright Health Group, Inc. (BHG)By: SA News Team2 Comments
- Bright Health Group (NYSE:BHG) reaffirms 2021 guidance of $4.1B to $4.2B in Revenue (consensus $4.13B) and introduced 2022 guidance that includes significant growth across both NeueHealth and Bright HealthCare businesses.
- Shares up 12.4% premarket at $4.25.
- For 2022, BHG expects Enterprise Revenue in the range of $6.3B to $6.5B (consensus $5.89B).
- Enterprise Medical Cost Ratio is expected to be between 86.0% - 88.0%.
- Adjusted EBITDA loss is projected between $500M to $400M.
- The Bright HealthCare segment is expected to begin the year with approx. 900,000 members as a result of strong AEP/OEP enrollment.
- The NeueHealth segment is expecting ~$2B in Revenue, with approx. one-third coming from external sources.