Loading...
•
Jun 30, 2023
Cross Country Healthcare Q2 2023 Earnings Report
Cross Country Healthcare's Q2 2023 financial results were announced, revealing a decrease in revenue and net income, but exceeding guidance ranges.
Key Takeaways
Cross Country Healthcare reported a decrease in revenue of 28% year-over-year and 13% sequentially, with a net income attributable to common stockholders of $21.3 million. However, the company's revenue and adjusted EPS exceeded guidance ranges, driven by strong growth in Physician Staffing and increased travel demand throughout the quarter. The company also repaid its term loan and repurchased shares.
Revenue and Adjusted EPS exceeded guidance ranges.
Physician Staffing reported strong revenue growth of 105% year-over-year and 12% sequentially.
Travel demand increased throughout the quarter
Strong quarterly operating cash flows of $119 million
Revenue by Segment
Forward Guidance
The company provided guidance for the third quarter of 2023, expecting revenue between $440 million and $450 million, adjusted EBITDA between $27.0 million and $32.0 million, and adjusted EPS between $0.35 and $0.45. The company updated its 2023 annual minimum guidance to at least $2.05 billion in revenue and a full year Adjusted EBITDA margin of approximately 8%.
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
Loading earnings performance data...
Loading earnings reaction data...