Core Insights - AMN Healthcare Services reported a revenue of $734.71 million for the quarter ended December 2024, marking a year-over-year decline of 10.2% and an EPS of $0.75 compared to $1.32 a year ago, although it exceeded the Zacks Consensus Estimate of $695.12 million by 5.70% [1] - The company delivered an EPS surprise of 44.23%, with the consensus EPS estimate being $0.52 [1] Financial Performance - AMN Healthcare's shares have returned -11.1% over the past month, contrasting with the Zacks S&P 500 composite's +2.6% change, and the stock currently holds a Zacks Rank 4 (Sell) [3] - Key metrics for the Physician and leadership solutions segment showed Days Filled at 51.64 million, slightly below the estimated 52.75 million, while Revenue per day filled was $2.65 million, exceeding the $2.56 million estimate [4] - Revenue for Physician and leadership solutions was $173.14 million, slightly below the four-analyst average estimate of $173.52 million, but representing a year-over-year increase of 3% [4] - Revenue for Nurse and allied solutions was $454.65 million, surpassing the estimated $418.84 million, but reflecting a year-over-year decline of 15.4% [4] - Revenue for Technology and workforce solutions was $106.91 million, exceeding the average estimate of $102.79 million, but showing a year-over-year decline of 5% [4] - Segment operating income for Nurse and allied solutions was $38.93 million, above the $37.07 million estimate, while Technology and workforce solutions reported $40.28 million, exceeding the $39.11 million estimate, and Physician and leadership solutions had $17.03 million, below the $18.54 million estimate [4]

Core Viewpoint - AMN Healthcare Services reported quarterly earnings of $0.75 per share, exceeding the Zacks Consensus Estimate of $0.52 per share, but down from $1.32 per share a year ago, indicating a significant earnings surprise of 44.23% [1][2] Financial Performance - The company achieved revenues of $734.71 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 5.70%, although this is a decline from $818.27 million in the same quarter last year [2] - Over the last four quarters, AMN Healthcare has consistently surpassed consensus EPS and revenue estimates [2] Stock Performance and Outlook - AMN Healthcare shares have decreased by approximately 0.3% since the beginning of the year, contrasting with the S&P 500's gain of 4.5% [3] - The company's earnings outlook is currently unfavorable, leading to a Zacks Rank 4 (Sell), suggesting expected underperformance in the near future [6] Future Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is $0.30 on revenues of $652.37 million, and for the current fiscal year, it is $1.35 on revenues of $2.69 billion [7] Industry Context - The Medical Services industry, to which AMN Healthcare belongs, is currently ranked in the bottom 47% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Talent Management and Workforce Solutions - AMN Healthcare's talent network includes over 270,000 registered users on the AMN Passport mobile application as of January 2025, enhancing operational efficiencies for healthcare professionals [27]. - In 2024, AMN Healthcare launched WorkWise, a technology solution that automates workforce management and predictive scheduling, aimed at improving clinician experience [27]. - The company reported an average of 9,206 healthcare professionals, including nurses and allied staff, working during the fourth quarter of 2024 [35]. - Approximately 17% of corporate team members were promoted or transferred internally in 2024, reflecting a strong focus on professional development [38]. - AMN Healthcare's human capital management strategy focuses on talent acquisition, engagement, retention, and employee well-being, essential for long-term growth [28]. - The company’s recruitment solutions, referred to as RPO, are customized to client needs, focusing on permanent clinical and nonclinical positions [7]. Diversity and Inclusion - As of December 31, 2024, 68% of corporate team members were women, and 73% of supervisory roles were held by women, indicating a strong commitment to diversity [42]. - AMN Healthcare achieved a 98% completion rate for its ethics and compliance training program in 2024, underscoring its commitment to a values-based culture [39]. Financial Performance - For the year ended December 31, 2024, the company recorded revenue of $2,983.8 million, a 21% decrease from $3,789.3 million in 2023 [167]. - The net income for 2024 was $(147.0) million, compared to a net income of $210.7 million in 2023 [167]. - Revenue from the nurse and allied solutions segment decreased by 31% to $1,815.7 million in 2024, primarily due to a 24% decrease in the average number of travelers on assignment [180]. - The physician and leadership solutions segment revenue comprised 24% of total consolidated revenue in 2024, up from 18% in 2023 [167]. - The technology and workforce solutions segment revenue increased to 15% of total consolidated revenue in 2024, compared to 13% in 2023 [167]. - Cost of revenue decreased 19% to $2,064.4 million for 2024 from $2,539.7 million for 2023, with a significant decline in the nurse and allied solutions segment [185]. - Gross profit decreased 26% to $919.4 million for 2024 from $1,249.6 million for 2023, resulting in gross margins of 30.8% for 2024 compared to 33.0% for 2023 [185]. - SG&A expenses were $632.5 million for 2024, representing 21.2% of revenue, down from $756.2 million (20.0% of revenue) in 2023 [186]. Market Trends and Challenges - The healthcare staffing industry has seen significant growth due to historic demand resulting from the COVID-19 pandemic, leading to further fragmentation in the market [62]. - The U.S. population aged 65 or older grew by 9.4% from 2020 to 2023 and is projected to increase by an estimated 31% between 2022 and 2035, driving demand for healthcare services [59]. - Approximately 900,000 registered nurses are anticipated to leave the workforce by the end of 2027, contributing to a projected shortage of healthcare professionals [58]. - Economic downturns and inflation could lead to reduced demand for staffing services, as healthcare facilities may rely more on permanent staff and reduce temporary staffing [76]. - The company faces potential pricing pressure due to the consolidation of healthcare delivery organizations, which may enhance their bargaining power [81]. - Regulatory changes, such as the repeal of the Affordable Care Act, could negatively affect the demand for healthcare services and, consequently, the company's services [85]. Operational Risks and Compliance - The company is subject to various legal and regulatory risks, including potential claims related to employment practices and medical malpractice, which could impact financial performance [86]. - Increased operational and administrative requirements due to state regulations could negatively impact the company's ability to profitably provide services in certain states [97]. - The company may experience negative financial effects from public health crises, including increased costs related to workers' compensation and health insurance [73]. - The classification of certain healthcare professionals as independent contractors may adversely affect profitability due to potential reclassification as employees, which could increase employee costs and expenses [98]. - The company faces risks related to acquisitions, including integration challenges and potential undiscovered liabilities that could harm operating results [123]. Technology and Innovation - AMN Healthcare's investment in technology aims to improve scale, agility, and cost efficiencies, ultimately benefiting healthcare professionals and clients [27]. - The ability to adapt to changing marketplace conditions, such as the adoption of AI technologies, is crucial for maintaining competitiveness in the staffing industry [80]. - The company must continue to develop and enhance its talent solutions technology offerings to remain competitive, requiring significant capital investment [108]. - The company relies on technology and infrastructure to support its operations, and failure to upgrade or implement new systems could adversely affect business operations and profitability [104]. Financial Management and Debt - As of December 31, 2024, the company's total indebtedness was $1,055.9 million [132]. - The company plans to extend its services to new healthcare settings and clients, which may increase operational risks [127]. - The company’s debt instruments impose restrictions that may limit its ability to finance future operations and engage in strategic acquisitions [134]. - The company entered into an amended credit agreement increasing the secured revolving credit facility from $400.0 million to $750.0 million [197]. - AMN Healthcare issued an additional $200.0 million of 4.625% senior notes due 2027, bringing the total to $500.0 million [198]. Shareholder Returns and Acquisitions - The company has repurchased a total of 12.6 million shares at an average price of $89.04 per share, totaling $1,123.3 million since 2016 [156]. - The company does not expect to pay cash dividends in the future, focusing instead on retaining earnings for business operations and debt repayment [157]. - The company acquired MSI Systems Corp. and DrWanted.com LLC on November 30, 2023, as part of its growth strategy [170].

Financial Performance - Fourth quarter 2024 revenue was $734.7 million, a 10% decrease year-over-year, while full year revenue was $2.984 billion, down 21% from the previous year[3][16] - The company reported a net loss of $187.5 million for Q4 2024, translating to a loss of $4.90 per diluted share, compared to a net income of $12 million in the same quarter last year[7][16] - Adjusted diluted EPS for Q4 2024 was $0.75, a 43% decrease from $1.32 in Q4 2023, and full year adjusted diluted EPS was $3.31, down 60% from $8.21[3][16] - Revenue for the three months ended December 31, 2024, was $734.7 million, a decrease of 10.2% compared to $818.3 million for the same period in 2023[38] - The total revenue for the company for the twelve months ended December 31, 2024, was $2.98 billion, down from $3.79 billion in 2023, indicating a year-over-year decline of approximately 21.3%[46] Segment Performance - Revenue from the Nurse and Allied Solutions segment was $455 million in Q4 2024, a 15% decrease year-over-year, while full year revenue for this segment was $1.816 billion, down 31%[8][17] - The Physician and Leadership Solutions segment reported revenue of $173 million in Q4 2024, a 3% increase year-over-year, driven by the MSDR acquisition[9][17] - Technology and Workforce Solutions segment revenue was $107 million in Q4 2024, reflecting a 5% decrease year-over-year[10][17] - Revenue for the Nurse and Allied Solutions segment was $454.7 million for the three months ended December 31, 2024, a decline of 15.4% compared to $537.6 million in the same period of 2023[46] - The revenue per day filled in the Physician and Leadership Solutions segment increased to $2,646 for the three months ended December 31, 2024, compared to $2,491 in the same period of 2023[46] Cash Flow and Debt - Cash flow from operations was $73 million for Q4 2024 and $320 million for the full year, with total debt reduced by $75 million in the quarter[5][20] - The company reported net cash provided by operating activities of $72.8 million for the three months ended December 31, 2024, compared to $(41.1) million in the previous quarter[42] - Cash and cash equivalents at the end of the period were $10.6 million, significantly lower than $32.9 million at the end of December 2023[40] - The company’s total liabilities decreased to $1.71 billion as of December 31, 2024, from $2.09 billion a year earlier[40] Operating Expenses and Margins - Operating expenses for the three months ended December 31, 2024, totaled $421.5 million, compared to $226.8 million in the same period of 2023, largely due to goodwill impairment losses of $222.5 million[38] - Full year consolidated gross margin was 30.8%, down from 33.0% in the prior year, primarily due to lower margins across all segments[18] - Gross profit for the twelve months ended December 31, 2024, was $919.4 million, down from $1.25 billion in 2023, reflecting a gross margin of 30.8% compared to 33.0%[38] - Adjusted EBITDA for the twelve months ended December 31, 2024, was $340.8 million, down from $579.1 million in 2023, reflecting a decrease in adjusted EBITDA margin from 15.3% to 11.4%[44] Goodwill and Impairment - A non-cash goodwill impairment charge of $222 million was recorded in Q4 2024, primarily due to a decline in the company's equity market capitalization[14] - The company incurred goodwill impairment losses of $222.5 million for the three months ended December 31, 2024, with no such losses reported in the same period of 2023[44] Future Guidance - The company expects Q1 2025 consolidated revenue to be between $660 million and $680 million, projecting a 17-20% decline compared to the same period last year[22][23] - The company provided guidance for an adjusted EBITDA margin of 7.7% to 8.2% for the three months ending March 31, 2025[48] Other Key Metrics - The leverage ratio increased to 3.0 as of December 31, 2024, compared to 2.2 in September 2023[46] - The company’s SG&A expenses as a percentage of revenue were 21.6% for the three months ended December 31, 2024, compared to 22.7% in the same period of 2023[38] - The average number of travelers on assignment in the Nurse and Allied Solutions segment decreased to 9,206 in December 2024 from 11,869 in September 2023[46] - Average travelers on assignment for the three months ended September 30, 2024, was corrected to 9,176 from the previously reported 9,151 due to an administrative error[16] Adjusted Metrics - Adjusted net income excludes various costs and is used to assess the Company's operating performance, providing a consistent basis for comparison between periods[11] - Adjusted diluted EPS is calculated using diluted weighted average common shares outstanding, reflecting the Company's operating performance alongside GAAP measures[12] - For the three and twelve months ended December 31, 2024, diluted weighted average common shares outstanding were 38,329 and 38,273, respectively, for calculating adjusted diluted EPS[13] - Revenue per day filled is derived from the Company's locum tenens business divided by days filled for the period presented[18] - The leverage ratio represents the ratio of consolidated funded indebtedness to consolidated adjusted EBITDA for the twelve-month period[19] - Guidance percentage metrics provided are approximate, indicating the Company's future performance expectations[20]

Core Insights - AMN Healthcare Services, Inc. reported a consolidated revenue of $735 million for Q4 2024, reflecting a 10% decrease year-over-year and a 7% increase sequentially [3][6] - The company experienced a net loss of $188 million, or $4.90 per diluted share, primarily due to a $222 million non-cash goodwill impairment [6][13] - Adjusted diluted EPS was $0.75, down 43% from the previous year [3][6] Financial Performance - Q4 2024 revenue was $734.7 million, down 10% from Q4 2023, while full-year revenue totaled $2.984 billion, a 21% decrease from the prior year [3][15] - Gross profit for Q4 was $219 million, a 16% decline year-over-year, with a gross margin of 29.8% [3][11] - Full-year net loss was $147 million, or $3.85 per diluted share, compared to a net income of $211 million, or $5.36 per diluted share, in 2023 [15] Segment Performance - The Nurse and Allied Solutions segment generated $455 million in revenue, down 15% year-over-year but up 14% sequentially [7] - The Physician and Leadership Solutions segment reported $173 million in revenue, a 3% increase year-over-year [9] - Technology and Workforce Solutions segment revenue was $107 million, reflecting a 5% decrease year-over-year [10] Operational Highlights - Cash flow from operations was $73 million for Q4 and $320 million for the full year [8][19] - The company reduced its debt by $75 million in Q4, totaling $250 million for the year [8] - AMN successfully onboarded nearly all ShiftWise clients to the ShiftWise Flex VMS platform ahead of schedule [8] Guidance and Outlook - For Q1 2025, consolidated revenue is projected to be between $660 million and $680 million, representing a 17-20% decrease from the prior year [21][22] - The Nurse and Allied Solutions segment is expected to see revenue decline by 22-25% year-over-year [22] - The company anticipates a gross margin of 28.1% to 28.6% for Q1 2025 [21]

Core Insights - The medical device sector is expected to experience strong revenue and earnings growth in the fourth quarter, driven by sustained demand and strategic pricing initiatives despite challenges like geopolitical uncertainties and supply chain issues [1][4]. Industry Performance - As of February 12, 72.1% of companies in the medical sector reported earnings, with a 16.9% year-over-year improvement in earnings and a 10.1% increase in revenues [2]. - Fourth-quarter earnings are projected to improve by 13.4% with a revenue growth of 9.6%, compared to a 7.8% earnings increase and 10.3% revenue growth in the third quarter [3]. Factors Influencing Growth - The U.S. medical instruments sector showed solid performance, with major players like Johnson & Johnson and Medtronic reporting mid-single-digit revenue increases, particularly in their MedTech and specialized device segments [6]. - Rising demand for medical procedures, especially among an aging population, and the integration of AI and robotics in manufacturing are key drivers of revenue expansion [7]. Challenges - Supply chain disruptions, including a hurricane-induced IV fluid shortage, have temporarily impacted hospital operations, leading to deferred procedures, although these disruptions are expected to be short-lived [8]. Company-Specific Insights - Glaukos Corporation reported a 24% year-over-year sales improvement in the third quarter, driven by its iDose TR product, and is expected to continue this trend [9]. - Glaukos raised its full-year revenue guidance to $377-$379 million, reflecting confidence in market penetration and upcoming product submissions [11]. - Integer Holdings reported a 9% year-over-year revenue increase and a 17% growth in adjusted operating income, indicating resilience amid macroeconomic pressures [14]. - AMN Healthcare is expected to see a decline in overall top-line revenue and margins, although some segmental revenues may offset these declines [17][18]. Earnings Estimates - The Zacks Consensus Estimate for Glaukos' fourth-quarter revenues is $100.8 million, indicating a 22.3% rise year-over-year, with an expected loss of 43 cents per share, showing a 31.8% improvement from the previous year [12]. - Integer Holdings' revenue estimate is $446.2 million, suggesting an 8% rise year-over-year, with an EPS estimate of $1.46, indicating a 5% improvement [16]. - AMN Healthcare's revenue estimate is $695.1 million, reflecting a 15.1% decrease year-over-year, with an EPS estimate suggesting a 60.6% decline to 52 cents [19].

In its upcoming report, AMN Healthcare Services (AMN) is predicted by Wall Street analysts to post quarterly earnings of $0.52 per share, reflecting a decline of 60.6% compared to the same period last year. Revenues are forecasted to be $695.12 million, representing a year-over-year decrease of 15.1%.The consensus EPS estimate for the quarter has been revised 7.2% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial e ...

DALLAS, Feb. 05, 2025 (GLOBE NEWSWIRE) -- AMN Healthcare, the leader and innovator in total talent solutions for healthcare organizations, has been recognized with the 2025 Best in KLAS Scheduling: Nurse & Staff award for its industry leading nursing staff management technology, Smart Square®. Smart Square consistently ranked the highest among competitors every month in 2024, underscoring AMN Healthcare’s commitment to delivering innovation and excellence in workforce technology. “AMN Healthcare is honored ...

DALLAS, Feb. 05, 2025 (GLOBE NEWSWIRE) -- AMN Healthcare, the leader and innovator in total talent solutions for healthcare organizations, has been recognized with the 2025 Best in KLAS Scheduling: Nurse & Staff award for its industry leading nursing staff management technology, Smart Square®. Smart Square consistently ranked the highest among competitors every month in 2024, underscoring AMN Healthcare's commitment to delivering innovation and excellence in workforce technology. "AMN Healthcare is honored ...

DALLAS, Jan. 23, 2025 (GLOBE NEWSWIRE) -- AMN Healthcare Services, Inc. (NYSE: AMN), has scheduled a conference call to discuss its fourth quarter and full year 2024 financial results and first quarter 2025 outlook on Thursday, February 20, 2025, at 5:00 p.m. Eastern Time. On the same day, the Company also expects to issue an earnings news release after market close at approximately 4:15 p.m. Eastern Time. A live webcast of the call can be accessed through this webcast link, which also will be available on ...