Financial Performance & Growth - The company's LTM (Last Twelve Months) revenue as of September 30, 2022, was approximately $5.5 billion[13] - The company's LTM Adjusted EBITDA reached $895 million[82] - The company's LTM Free Cash Flow reached $550 million[87] - The company's revenue increased from $1.988 billion in FY17 to $5.481 billion LTM[82] - The company's Adjusted EBITDA margin was 16.3% LTM[82] Market Position & Strategy - The company estimates a total addressable market of approximately $46 billion[53] - The company estimates the 2022 U.S Healthcare Staffing Market is approximately $40 billion[54] - The company's revenue from Technology and Workforce Solutions was 12% of total revenue in Q3 2022[61] - The company spent $378 million with small businesses and diverse-owned companies[44] Capital Allocation & Debt - The company's total debt was $850 million as of September 30, 2022[92] - The company has $534 million in total available liquidity as of September 30, 2022[92]

Core Viewpoint - AMN Healthcare Services (AMN) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Ratings - The Zacks rating system is based on changes in earnings estimates, which are tracked through the Zacks Consensus Estimate for EPS from sell-side analysts [2]. - The Zacks rating upgrade for AMN reflects an optimistic earnings outlook, likely leading to increased buying pressure and a rise in stock price [4][6]. Impact of Institutional Investors - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with stock price movements, largely due to institutional investors adjusting their valuations based on these estimates [5]. - An increase in earnings estimates typically results in higher fair value for a stock, prompting institutional investors to buy or sell accordingly, which influences stock price movements [5]. Earnings Estimate Revisions for AMN - For the fiscal year ending December 2025, AMN is expected to earn $1.08 per share, unchanged from the previous year, but the Zacks Consensus Estimate has increased by 9.7% over the past three months [9]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, where Zacks Rank 1 stocks have generated an average annual return of +25% since 1988 [8]. - AMN's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [11].

Group 1 - AMN Healthcare Services (AMN) closed at $21.18, with a 2% gain over the past four weeks, and a mean price target of $27.39 suggests a 29.3% upside potential [1] - The average price targets from analysts range from $24.00 to $33.00, indicating a potential increase of 13.3% to 55.8%, with a standard deviation of $3.88 reflecting the variability of estimates [2] - Analysts show strong agreement that AMN will report better earnings than previously estimated, which is a positive indicator for potential stock upside [4][11] Group 2 - The Zacks Consensus Estimate for AMN's current year earnings has increased by 6.3% over the past month, with no negative revisions [12] - AMN holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] - While consensus price targets may not be reliable for predicting the extent of gains, they can indicate the direction of price movement [14]

Core Insights - The Zacks Rank system emphasizes earnings estimates and revisions to identify winning stocks, while also considering trends in value, growth, and momentum for strong stock picks [1][2] Value Investing - Value investing is highlighted as a preferred strategy for identifying strong stocks across various market conditions, focusing on traditional analysis of key valuation metrics to find undervalued stocks [2] AMN Healthcare Services - AMN Healthcare Services (AMN) is identified as a strong value stock, currently holding a Zacks Rank of 2 (Buy) and a Value grade of A, indicating its attractiveness to value investors [3] - AMN has a price-to-book (P/B) ratio of 1.17, which is favorable compared to the industry average P/B of 1.58, suggesting that the stock is undervalued [4] - The historical P/B ratio for AMN has ranged from a high of 2.95 to a low of 0.95, with a median of 1.40 over the past year, reinforcing its current valuation status [4] - The combination of AMN's strong earnings outlook and its valuation metrics positions it as an impressive value stock at this time [5]

Core Insights - AMN Healthcare has elected Celia Huber to its Board of Directors, bringing over 30 years of experience in healthcare strategy and governance [1][3] - Huber's expertise includes advising healthcare systems and payors on strategy, risk, and performance, aligning with AMN's mission to enhance workforce solutions [2][3] Company Overview - AMN Healthcare is recognized as a leader in total talent solutions for healthcare organizations in the U.S., focusing on solving workforce challenges to improve clinical outcomes [7] - The company offers a comprehensive network of healthcare professionals and a customizable suite of workforce technologies [7] Leadership Background - Celia Huber is a Senior Partner at McKinsey & Company, leading the Board Services Practice in North America, and has extensive experience in governance and organizational transformation [3][5] - Huber has served on various boards and committees, including the AltaMed Foundation and the California Business Roundtable, showcasing her commitment to healthcare and community service [5]

Group 1 - AMN Healthcare Services, Inc. reported high demand in therapy and imaging specialties, indicating a positive trend in the healthcare sector [1] - The company experienced a decrease in interest expenses, attributed to reductions in net debt [1] Group 2 - The overall normalization in the industry suggests a potential stabilization of market conditions, which may benefit AMN Healthcare's operations [1]

Core Insights - The average time to schedule a physician appointment in 15 major metropolitan areas has increased by 19% since 2022 and by 48% since 2004, now averaging 31 days [1][2][3] Appointment Wait Times - The survey indicates that average wait times for various specialties are as follows: - Obstetrics/Gynecology: 42 days, up 33% since 2022 and up 79% since 2004 [9] - Gastroenterology: 40 days (newly added in 2025) [9] - Dermatology: 36.5 days, up 6% since 2022 and up 50% since 2004 [9] - Cardiology: 33 days, up 23% from 2022 and up 74% since 2004 [9] - Family Medicine: 23.5 days, up 14% since 2022 and up 16% since 2009 [9] - Orthopedic Surgery: 12 days, down 29% since 2022 and down 29% since 2004 [9] Geographic Variations - Boston has the longest average wait time at 65 days, while Atlanta has the shortest at 12 days [4] - Wait times can vary significantly by specialty and metropolitan area, with some appointments taking as long as 291 days for dermatology in Portland, Oregon [6] Physician Acceptance Rates - 82% of physicians in the surveyed metropolitan areas accept Medicare, with Boston having the highest acceptance rate at 94% and Atlanta the lowest at 68% [7] - Only 53% of physicians accept Medicaid, with Detroit having the highest acceptance at 85% and New York the lowest at 28% [7][8] Implications - The increasing wait times for physician appointments indicate a growing shortage of physicians in the U.S., particularly in densely populated areas [3][5]

Heart of Healthcare Under Pressure: 1 in 3 Nurses Near Retirement as Continued Volatility PersistsDALLAS, May 12, 2025 (GLOBE NEWSWIRE) -- While 75% of nurses report being satisfied with their career choice, many still face significant strain due to burnout, mental health challenges, and staffing issues, according to a new survey by AMN Healthcare, the leader and innovator in total talent solutions for healthcare organizations. More than half of nurses (58%) report feeling burnout most days, and only 39% pl ...

Core Viewpoint - AMN Healthcare Services, Inc. reported a significant decline in adjusted earnings per share and revenues for the first quarter of 2025, although the adjusted EPS exceeded consensus estimates. The company anticipates continued revenue declines across all segments in the upcoming quarter, raising concerns about its financial performance [1][10][12]. Revenue Summary - AMN Healthcare's total revenues for Q1 2025 were $689.5 million, reflecting a 16% decrease year over year, but surpassing the Zacks Consensus Estimate by 2.7% [2]. - The Nurse and Allied Solutions segment generated revenues of $413.3 million, down 20.4% year over year, with travel nurse staffing revenues declining by 36% [4]. - The Physician and Leadership Solutions segment reported revenues of $174.1 million, a decrease of 7.8% year over year, with locum tenens revenues down 3% [5]. - The Technology and Workforce Solutions segment's revenues totaled $102.2 million, down 9.4% year over year, although language interpretation services saw a 5% increase [6]. Margin Analysis - AMN Healthcare's gross profit fell by 23.1% year over year to $198.1 million, with a gross margin contraction of 264 basis points to 28.7% [7]. - Adjusted operating profit was $50.4 million, reflecting a 39% decline from the prior year, and the adjusted operating margin contracted 276 basis points to 7.3% [7]. Financial Position - At the end of Q1 2025, AMN Healthcare had cash and cash equivalents of $55.8 million, up from $10.6 million at the end of 2024. Total debt decreased to $1 billion from $1.060 billion [8]. - Net cash provided by operating activities was $92.7 million, compared to $81.4 million a year ago [8]. Guidance - For Q2 2025, AMN Healthcare expects revenues to be in the range of $645 million to $660 million, indicating an 11-13% decline compared to the previous year [10]. - The company anticipates a revenue decline of 14-17% in the Nurse and Allied Solutions segment, 8-10% in the Technology and Workforce Solutions segment, and 5-7% in the Physician and Leadership Solutions segment [11]. Market Reaction - Following the earnings report, AMN Healthcare's shares gained nearly 9.2% in after-hours trading, indicating a positive market reaction despite the overall disappointing financial performance [2].

Core Insights - AMN Healthcare Services reported a revenue of $689.53 million for the quarter ended March 2025, reflecting a 16% decline year-over-year, while EPS was $0.45 compared to $0.97 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $671.3 million by 2.72%, and the EPS surpassed the consensus estimate of $0.19 by 136.84% [1] Financial Performance Metrics - AMN Healthcare's stock has returned -5.3% over the past month, contrasting with the Zacks S&P 500 composite's +11.3% change, and currently holds a Zacks Rank 3 (Hold) [3] - In the Physician and leadership solutions segment, Days Filled were reported at 51.34 million, slightly below the average estimate of 51.95 million, while revenue per day filled was $2.74 million, exceeding the estimated $2.63 million [4] - Revenue from Physician and leadership solutions was $174.07 million, surpassing the average estimate of $171.10 million, but showing a year-over-year decline of 7.8% [4] - Revenue from Nurse and allied solutions was $413.26 million, exceeding the average estimate of $397.20 million, but reflecting a significant year-over-year decline of 20.4% [4] - Revenue from Technology and workforce solutions was $102.21 million, slightly below the estimated $103 million, marking a 9.4% decrease compared to the year-ago quarter [4] - Segment operating income for Nurse and allied solutions was $32.24 million, above the estimated $30.79 million, while for Technology and workforce solutions it was $35.25 million, below the estimated $37.97 million [4] - Segment operating income for Physician and leadership solutions was $14.46 million, falling short of the estimated $17.29 million [4]