Loading...
•
Sep 30, 2022
AMN Healthcare Q3 2022 Earnings Report
AMN Healthcare's Q3 2022 performance showcased strong revenue growth and profitability.
Key Takeaways
AMN Healthcare reported a strong third quarter in 2022, with revenue reaching $1.139 billion, a 30% increase year-over-year. GAAP EPS was $2.10, and adjusted EPS was $2.57. The company is transitioning leadership with Cary Grace taking over as CEO.
Consolidated revenue for the quarter was $1.139 billion, a 30% increase over prior year.
Net income was $92 million, or $2.10 per diluted share.
Adjusted diluted EPS in the third quarter was $2.57 compared with $1.73 in the same quarter a year ago.
Cash and cash equivalents totaled $156 million at the end of the quarter.
Revenue by Segment
Forward Guidance
Revenue in the fourth quarter of 2022 is expected to be 21-23% lower than prior year and 6-8% lower sequentially. Excluding labor disruption revenue, we expect fourth quarter revenue to be down 16-18% year over year, due to lower average travel nurse and VMS bill rates.
Positive Outlook
- Fourth quarter revenue decline is slightly better than prior projections.
- Decline is partially offset by an increase in healthcare professionals on assignment.
- Physician and Leadership Solutions segment revenue is expected to be flat year over year.
- Technology and Workforce Solutions segment revenue is expected to grow by approximately 10% year over year.
Challenges Ahead
- Revenue in the fourth quarter of 2022 is expected to be 21-23% lower than prior year.
- Revenue in the fourth quarter of 2022 is expected to be 6-8% lower sequentially.
- Nurse and Allied Solutions segment revenue is expected to be down approximately 29% year over year.
- Decline is driven primarily by the continued decline in average travel nurse and VMS bill rates and hours worked.
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...