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Dec 31, 2021
Cross Country Healthcare Q4 2021 Earnings Report
Cross Country Healthcare reported historic Q4 and full year financial performance driven by solid execution.
Key Takeaways
Cross Country Healthcare's Q4 2021 revenue reached $640.7 million, a 197% increase year-over-year and 71% sequentially, with net income attributable to common stockholders at $77.6 million, and adjusted EPS at $1.40.
Historic fourth quarter and full year financial performance due to solid execution
Fourth quarter financial performance exceeded all original guidance ranges
Year-over-year and sequential volume growth across all lines of business
Adjusted EBITDA margin of 12.6% for the quarter
Cross Country Healthcare
Cross Country Healthcare
Cross Country Healthcare Revenue by Segment
Revenue by Segment
Nurse and Allied Staffing Revenue
CapyFin.comPhysician Staffing Revenue
CapyFin.com Forward Guidance
The company provided guidance for Q1 2022.
Positive Outlook
- Revenue between $740 million and $750 million
- Adjusted EBITDA between $80.0 million and $85.0 million
- Adjusted EPS between $1.38 and $1.48
- Average bill rates are anticipated to remain elevated at or slightly above the fourth quarter
- Company will continue to see volume growth throughout 2022
Challenges Ahead
- Gross Profit Margin between 21.5% and 22.0%
- Adjusted EBITDA to be down 1% to up 5% sequentially
- Adjusted EPS to be down $0.02 to up $0.08 sequentially
- Rates will likely decline as COVID-19 hospitalizations decline
- Does not include the potential impact of any future divestitures, mergers, acquisitions, or other business combinations, changes in debt structure, or future share repurchases
Revenue & Expenses
Visualization of income flow from segment revenue to net income