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Mar 31, 2023
Cross Country Healthcare Q1 2023 Earnings Report
Cross Country Healthcare's first quarter results were announced, revealing revenue and profitability exceeding expectations, driven by strong execution across the business.
Key Takeaways
Cross Country Healthcare's Q1 2023 results showed revenue of $622.7 million, a net income of $29.4 million, and diluted EPS of $0.81. The company exceeded expectations for revenue and profitability, with physician staffing revenue growing by 75%. They also signed their first Intellify vendor-neutral client contract and repurchased 1.2 million shares of common stock.
Revenue, Adjusted EBITDA, and Adjusted EPS exceeded guidance ranges.
Highest revenue quarter in Company history for education and home care.
Physician Staffing revenue growth of 75% year-over-year.
First Intellify vendor-neutral client contract signed.
Revenue by Segment
Forward Guidance
For the second quarter of 2023, Cross Country Healthcare anticipates revenue between $530 million and $540 million, Adjusted EBITDA between $40.0 million and $45.0 million, and Adjusted EPS between $0.55 and $0.65. The company has updated its 2023 annual minimum guidance to at least $2.1 billion in revenue and in excess of $170 million in Adjusted EBITDA.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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