Key Takeaways AMN Healthcare reported Q2 adjusted EPS of 30 cents, exceeding the Zacks Consensus Estimate.AMN Healthcare's Q2 revenues were $658.2 million, with declines in all operating segments.AMN Healthcare's gross margin fell to 29.8% and operating margin slid to 6.4% in Q2.AMN Healthcare Services, Inc. (AMN) delivered adjusted earnings per share (EPS) of 30 cents in the second quarter of 2025, which declined 69.4% year over year. However, the figure surpassed the Zacks Consensus Estimate by 76.5%.GAAP ...

Group 1: Earnings Performance - AMN Healthcare Services reported quarterly earnings of $0.3 per share, exceeding the Zacks Consensus Estimate of $0.17 per share, but down from $0.98 per share a year ago, representing an earnings surprise of +76.47% [1] - The company has surpassed consensus EPS estimates for the last four quarters [2] - AMN Healthcare's revenues for the quarter ended June 2025 were $658.18 million, surpassing the Zacks Consensus Estimate by 0.87%, but down from $740.68 million year-over-year [2] Group 2: Stock Performance and Market Comparison - AMN Healthcare shares have declined approximately 28% since the beginning of the year, while the S&P 500 has gained 7.9% [3] - The stock is currently rated Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Group 3: Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.19 on revenues of $639.01 million, and for the current fiscal year, it is $1.04 on revenues of $2.63 billion [7] - The outlook for the Medical Services industry, where AMN operates, is currently in the top 40% of Zacks industries, suggesting potential for better performance compared to lower-ranked industries [8]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ FORM 10-Q ____________________ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No.: 001-16753 AMN HEALTHCARE SERVICES, INC. (Exact Name of Registrant as Specified in Its Charter) (State or Oth ...

Financial Data and Key Metrics Changes - Second quarter revenue was $658 million, down 11% year over year and down 5% sequentially, but at the upper end of guidance [19][7] - Adjusted EBITDA for the second quarter was $58 million, down 38% year over year and 9% sequentially, with an adjusted EBITDA margin of 8.9% [25][26] - Net loss for the second quarter was $116 million, compared to net income of $16 million in the prior year period [27] - Days sales outstanding decreased to 54 days, which is nine days lower than a year ago [28] Business Line Data and Key Metrics Changes - Nurse and Allied revenue was $382 million, down 14% year over year, primarily due to lower volume [20] - Physician and Leadership Solutions segment revenue was $175 million, down 6% year over year [22] - Technology and Workforce Solutions revenue was $102 million, down 9% year over year [24] - Language services revenue was $76 million, up 1% year over year [24] Market Data and Key Metrics Changes - Academic medical centers accounted for about 20% of consolidated revenue year to date, with spending reductions due to federal funding cuts [8] - Travel nurse orders in June were 15% lower than in March, indicating client uncertainty [8] - Locum Tenens demand was 5% higher than Q2, showing signs of recovery [13] Company Strategy and Development Direction - The company aims to diversify revenues and enhance technology-enabled services, with AMN Passport achieving over 300,000 registered users [15] - Focus on operational efficiency and cost management while driving volume growth [17] - The company is positioned to benefit from market share gains in an environment where competitors are struggling [14][92] Management's Comments on Operating Environment and Future Outlook - Management noted that uncertainty regarding government policy has led to cautious client behavior, impacting staffing orders [7] - There are signs of demand stabilization in July, with expectations for improved metrics in the second half of the year [10][38] - The company anticipates double-digit growth in international nurse staffing by 2026, driven by visa retrogression improvements [96][97] Other Important Information - The company recorded a non-cash goodwill impairment charge of $110 million related to the Physician and Leadership Solutions segment [26] - The sale of SmartSquare for $75 million is expected to reduce annualized revenue by approximately $17 million starting in Q3 [25] Q&A Session Summary Question: Insights on clients' contingent labor needs - Management observed that clients are normalizing their utilization of labor, with a focus on permanent hiring and building flexibility [39][40] Question: Drivers behind gross margin improvements in Nurse and Allied - Management indicated that underlying spreads in Nurse and Allied have stabilized, contributing to improved gross margins [43][44] Question: Timing for potential recovery in demand - Management expects to see stabilization and potential growth in demand as the year progresses, particularly in Q4 [56][57] Question: Competitive pricing environment - Management noted that pricing has remained stable, with no significant changes despite competitive pressures [108][109] Question: Future growth expectations for language services - Management anticipates modest growth in language services, with a focus on managing competitive pricing pressures [82]

| | Q2 2025 | | % | Change Q2 | YTD | June | 30, | % | Change | YTD | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 2024 | | 2025 | | June | 30, | 2024 | | Revenue | | $658.2 | | (11%) | | $1,347.7 | | | (14%) | | | Gross profit | | $196.4 | | (15%) | | $394.5 | | | (19%) | | | Net loss | | ($116.2) | | nm | | ($117.3) | | | nm | | | Diluted loss per share | | ($3.02) | | nm | | ($3.06) | | | nm | | | Adjusted diluted EPS* | | $0.30 | | (69%) | | $0.75 | | | (62%) | | | Adjus ...

Financial Performance - AMN Healthcare reported quarterly revenue of $658 million, an 11% decrease year-over-year and a 5% decrease sequentially [5][8] - The company experienced a net loss of $116.2 million, translating to a diluted loss per share of ($3.02) [5][13] - Adjusted diluted EPS was $0.30, down 69% from the same quarter last year [5][13] Segment Performance - Revenue from the Nurse and Allied Solutions segment was $382 million, a 14% decline year-over-year and an 8% decline from the previous quarter [6][38] - The Physician and Leadership Solutions segment reported revenue of $175 million, down 6% year-over-year and flat sequentially [7][38] - Technology and Workforce Solutions segment revenue was $102 million, a decrease of 9% year-over-year and flat sequentially [10][38] Operational Highlights - The company achieved a consolidated gross margin of 29.8%, which is 120 basis points lower year-over-year but improved by 110 basis points sequentially [11][38] - SG&A expenses were $155 million, representing 23.5% of revenue, an increase from 20.1% in the same quarter last year [12][38] - Cash flow from operations was strong at $79 million, allowing the company to reduce debt by $80 million, resulting in a net leverage ratio of 3.3:1 [8][14] Future Outlook - For Q3 2025, consolidated revenue is expected to be 9-11% lower than the prior year, with specific segment declines projected [17][18] - The company anticipates a gross margin between 28.7% and 29.2% for the upcoming quarter [17] - Labor disruption revenue assumed in guidance is $5 million [18] Strategic Developments - The sale of Smart Square for $75 million is part of the company's strategy to enhance its partnership with symplr [15][16] - AMN Passport, the company's app for healthcare professionals, surpassed 300,000 users, indicating growth in its technology-enabled services [8]

Core Viewpoint - AMN Healthcare Services (AMN) is expected to report a year-over-year decline in earnings and revenues for the quarter ended June 2025, with the actual results being crucial for its near-term stock price movement [1][2]. Earnings Expectations - The upcoming earnings report is anticipated to show earnings of $0.17 per share, reflecting a significant year-over-year decrease of 82.7% [3]. - Revenues are projected to be $652.49 million, which is an 11.9% decline from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 8.43% over the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate for AMN is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +0.58% [12]. Earnings Surprise Prediction - A positive Earnings ESP reading suggests a potential earnings beat, but the current Zacks Rank of 4 indicates a lower likelihood of this outcome [10][12]. - Historical performance shows that AMN has beaten consensus EPS estimates in the last four quarters, with a notable surprise of +136.84% in the most recent quarter [13][14]. Industry Comparison - Charles River Laboratories (CRL), another player in the medical services industry, is expected to report earnings of $2.5 per share, down 10.7% year-over-year, with revenues of $982.87 million, a 4.2% decline [18][19]. - CRL has a positive Earnings ESP of +0.11% and a Zacks Rank of 3, indicating a higher likelihood of beating consensus EPS estimates [20].

Group 1 - AMN Healthcare Services, Inc. has scheduled a conference call for August 7, 2025, to discuss its Q2 2025 financial results and Q3 2025 outlook [1] - The earnings news release is expected to be issued after market close on the same day at approximately 4:15 p.m. Eastern Time [1] - A live webcast of the call will be accessible through a provided link and on AMN Healthcare's investor relations website [2] Group 2 - Following the call, a replay of the webcast will be available on the Company's investor relations website [3] - AMN Healthcare is recognized as a leader in total talent solutions for healthcare, addressing workforce challenges to improve clinical outcomes [4] - In 2024, AMN Healthcare professionals reached nearly 15 million patients across over 2,100 healthcare systems, including 87% of the top healthcare systems nationwide [4] Group 3 - The Company's common stock is listed under the symbol "AMN" on the New York Stock Exchange [5] - AMN Healthcare provides various channels for distributing information, including email alerts and RSS feeds [5] - Contact information for investor relations is available, including a dedicated Vice President for Investor Relations and Strategy [6]

Core Insights - AMN Healthcare Services, Inc. announced the sale of its Smart Square scheduling software to symplr for $75 million, establishing a commercial partnership to enhance operational technology and workforce solutions [1][10] - The partnership is expected to strengthen AMN's Scheduling and Staff Planning business, boosting its position in the healthcare workforce management niche [2] Company Performance - Following the announcement, AMN's shares gained nearly 0.5%, reflecting positive market sentiment [3] - AMN Healthcare has a market capitalization of $843.9 million and an earnings yield of 4.8%, outperforming the industry average of 4.2% [4] Strategic Rationale - AMN Healthcare aims to meet the increasing demand for integrated workforce management solutions by combining its capabilities with symplr's software, which is expected to streamline various administrative processes for healthcare organizations [5][6] - The partnership is anticipated to enhance AMN's WorkWise technology suite, providing clients with a comprehensive solution for workforce management [6] Industry Outlook - The global workforce management market was valued at $8.07 billion in 2022 and is projected to reach $19.35 billion by 2030, growing at a CAGR of 11.7%, driven by workforce optimization and technological advancements [8] - The recent announcement is expected to significantly boost AMN Healthcare's business in light of the market potential [8] Recent Developments - In May, AMN reported a 4.9% year-over-year increase in revenues from its Technology and Workforce Solutions segment's Language services [9]

Company Overview - AMN Healthcare is a leader and innovator in total talent solutions for healthcare, uniquely positioned to serve growing health systems and diverse care settings[5] - The company has over 12,000 total employees[8] - AMN Healthcare has a strong ESG/CSR track record[8] Financial Performance - In 2019, AMN Healthcare's revenue was $2.222 billion, with a gross profit of $743 million and a gross margin of 33.5%[8] - Adjusted EBITDA for 2019 was $277 million, representing an adjusted EBITDA margin of 12.5%[8] - Free cash flow in 2019 was $190 million, with a free cash flow conversion rate of 68%[8] - As of Q3 2020, Nurse and Allied Solutions accounted for 69% of revenue, Physician and Leadership Solutions 20%, and Technology and Workforce Solutions 11%[8, 11] - Managed Services Programs (MSPs) account for 56% of revenue from these segments[12] Market Position and Strategy - AMN Healthcare manages over $3.4 billion in spend under management[19] - The company is well-positioned to capture long-term U.S secular trends, including the aging population and healthcare professionals, job openings/turnover, and healthcare spend[37] - The total addressable market is approximately $22 billion, including $17 billion for the U.S Healthcare Staffing Market and $5 billion for other addressable markets[42, 43] - The company's strategic approach to M&A focuses on accretive profit margins and revenue growth, with a ROIC greater than the cost of capital[104]