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Jun 30, 2020
Cross Country Healthcare Q2 2020 Earnings Report
Cross Country Healthcare's second quarter results reflected strong execution in filling unprecedented demand from clients responding to COVID-19.
Key Takeaways
Cross Country Healthcare reported a 7% increase in revenue year-over-year, driven by strong demand for their services in response to COVID-19. The company reported a net loss attributable to common shareholders of $14.2 million, and an adjusted EPS of $0.16.
Consolidated revenue increased 7% year-over-year and 3% sequentially.
Net loss attributable to common shareholders was $14.2 million.
Adjusted EBITDA was $11.6 million, or 5.4% of revenue.
Adjusted EPS was $0.16, compared to $0.01 in the prior year.
Revenue by Segment
Forward Guidance
The company expects revenue between $170 million and $180 million, gross profit margin between 23.8% and 24.3%, Adjusted EBITDA between $4.0 million and $6.0 million, and Adjusted EPS between $(0.06) and $(0.02) for Q3 2020.
Positive Outlook
- Gross Profit Margin between 23.8% - 24.3%
- Sequential improvement in Revenue expected for Q4
- Sequential improvement in Adjusted EBITDA expected for Q4
- The company continues to assess the impacts from COVID-19 on its operations
- The company has decided to widen the guidance ranges for the third quarter, due to volatility and uncertainty from the pandemic
Challenges Ahead
- Revenue between $170 million - $180 million
- Adjusted EBITDA between $4.0 million - $6.0 million
- Adjusted EPS between $(0.06) - $(0.02)
- The potential impact of any future divestitures, mergers, acquisitions or other business combinations
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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