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Mar 31, 2022
Cross Country Healthcare Q1 2022 Earnings Report
Achieved record revenue and adjusted EBITDA, demonstrating success in a challenging healthcare workforce environment.
Key Takeaways
Cross Country Healthcare reported record revenue of $788.7 million, a 140% increase year-over-year, and adjusted EBITDA of $97.4 million for Q1 2022. The company's performance exceeded guidance, driven by growth across all lines of business and a record number of professionals on assignment.
Achieved the highest revenue and Adjusted EBITDA in company history.
Maintained a record number of professionals on assignment.
Experienced year-over-year and sequential growth across all lines of business.
First quarter financial performance exceeded all guidance ranges.
Revenue by Segment
Forward Guidance
For the second quarter of 2022, Cross Country Healthcare expects revenue between $735 million and $745 million and Adjusted EPS between $1.30 and $1.40.
Positive Outlook
- Revenue guidance assumes volume growth across all lines of business.
- Anticipate further market share gains despite potential headwinds from changing bill rates or demand from certain specialties.
- Committed to investing in our people and our tech-enabled digital platform by doubling our IT project budget for 2022.
Challenges Ahead
- Average travel bill rates are anticipated to experience a high single to low double-digit decline sequentially.
- The above estimates are based on current management expectations and, as such, are forward-looking and actual results may differ materially.
- The above ranges do not include the potential impact of any future divestitures, mergers, acquisitions, or other business combinations, changes in debt structure, or future significant share repurchases.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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