AMN Healthcare Q4 2022 Earnings Report
Key Takeaways
AMN Healthcare announced its fourth quarter and full year 2022 financial results. The company's Q4 revenue was $1.126 billion, a 17% decrease over prior year. Net income was $82 million, or $1.88 per diluted share, compared with $116 million, or $2.42 per diluted share, in the same quarter last year. Adjusted diluted EPS was $2.48 compared with $2.95 in the year-ago quarter.
Consolidated revenue for the quarter was $1.126 billion, a 17% decrease over prior year.
Net income was $82 million (7.3% of revenue), or $1.88 per diluted share.
Adjusted diluted EPS was $2.48 compared with $2.95 in the year-ago quarter.
Revenue for the Nurse and Allied Solutions segment was $825 million, flat sequentially and lower by 24% year over year.
AMN Healthcare
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AMN Healthcare Revenue by Segment
Forward Guidance
Consolidated revenue in the first quarter of 2023 is projected to be 27-29% lower than the record-high revenue of the year-ago period.
Positive Outlook
- Gross margin is expected to be higher by approximately 90 basis points year over year, driven by an improved Nurse and Allied margin
- Gross margin is expected to be higher by approximately 90 basis points year over year, driven by a revenue mix shift toward our higher-margin businesses.
- Nurse and Allied Solutions segment revenue is expected to be flat sequentially
- Guidance assumes an immaterial amount of labor disruption revenue in the quarter.
- Stock repurchase authorization.
Challenges Ahead
- Consolidated revenue in the first quarter of 2023 is projected to be 27-29% lower than the record-high revenue of the year-ago period.
- Nurse and Allied Solutions segment revenue is expected to be 32-34% below prior year.
- Physician and Leadership Solutions segment revenue in the first quarter to be down 10-12% year over year.
- Technology and Workforce Solutions segment revenue also is expected to be down 10-12% year over year.
- Normalizing trend in staffing demand and bill rates.