Core Insights - AMN Healthcare Services, Inc. reported adjusted earnings per share (EPS) of 61 cents for Q3 2024, a decline of 69% year over year, but exceeded the Zacks Consensus Estimate by 5.2% [1] - The company's revenues for the third quarter were $687.5 million, down 19.4% year over year, yet also surpassed the Zacks Consensus Estimate by 2.6% [2] Revenue Breakdown - The Nurse and Allied Solutions segment generated revenues of $399.4 million, a decrease of 30.4% year over year, with travel nurse staffing revenues down 37% [4] - The Physician and Leadership Solutions segment's revenues were $180.6 million, reflecting a 13.2% increase year over year, driven by a 26% rise in locum tenens revenues [5] - The Technology and Workforce Solutions segment reported revenues of $107.5 million, down 10.7% year over year, with language interpretation services revenues at $75 million, up 13% [6] Margin Analysis - AMN Healthcare's gross profit fell 26.4% year over year to $213.1 million, with a gross margin contraction of 293 basis points to 30.9% [7] - Adjusted operating profit was $63.4 million, down 49.7% from the prior year, with an adjusted operating margin of 9.2%, a decline of 556 basis points [8] Financial Position - At the end of Q3 2024, AMN Healthcare had cash and cash equivalents of $30.6 million, down from $48 million at the end of Q2 2024, and total debt decreased to $1.135 billion from $1.195 billion [9] Future Guidance - For Q4 2024, AMN expects revenues between $685 million and $705 million, indicating a decline of 14-16% compared to the previous year [10] - The company anticipates a 21-24% revenue decline in the Nurse and Allied Solutions segment and a 9% decline in the Technology and Workforce Solutions segment, while projecting a 3% increase in the Physician and Leadership Solutions segment [11] Overall Performance - The overall performance of AMN Healthcare in Q3 2024 was disappointing, with significant declines in most segment revenues and margins [12] - Despite the challenges, the company noted progress in its market growth strategy and improvements in its sales pipeline, indicating potential for future recovery [14]

Core Insights - AMN Healthcare Services reported a revenue of $687.51 million for the quarter ended September 2024, reflecting a year-over-year decline of 19.4% [1] - The earnings per share (EPS) for the quarter was $0.61, down from $1.97 in the same quarter last year, but exceeded the consensus estimate of $0.58 by 5.17% [1] - The reported revenue surpassed the Zacks Consensus Estimate of $670.08 million by 2.60% [1] Financial Performance Metrics - Physician and leadership solutions reported Days Filled of 55.32 million, slightly above the estimated 55.28 million [3] - Revenue per day filled for Physician and leadership solutions was $2.56 million, exceeding the average estimate of $2.48 million [3] - Revenue from Physician and leadership solutions was $180.61 million, surpassing the estimated $179.15 million, marking a year-over-year increase of 13.2% [3] - Revenue from Nurse and allied solutions was $399.37 million, which was above the estimated $383.11 million but represented a year-over-year decline of 30.4% [3] - Revenue from Technology and workforce solutions was $107.54 million, slightly below the estimated $107.67 million, with a year-over-year decline of 10.8% [3] - Segment operating income for Nurse and allied solutions was $35.11 million, below the average estimate of $39.43 million [3] - Segment operating income for Technology and workforce solutions was $41.95 million, slightly above the average estimate of $41.69 million [3] - Segment operating income for Physician and leadership solutions was $18.13 million, below the estimated $21.66 million [3] Stock Performance - AMN Healthcare shares have returned +5.2% over the past month, outperforming the Zacks S&P 500 composite's +3.2% change [4] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [4]

AMN Healthcare Services (AMN) came out with quarterly earnings of $0.61 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $1.97 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.17%. A quarter ago, it was expected that this health care staffing company would post earnings of $0.75 per share when it actually produced earnings of $0.98, delivering a surprise of 30.67%.Over the last ...

Financial Performance - Revenue for Q3 2024 was $687.5 million, a decrease of 19.5% compared to $853.5 million in Q3 2023[6] - Gross profit for Q3 2024 was $213.1 million, down 26.4% from $289.5 million in Q3 2023[6] - Net income for Q3 2024 was $7.0 million, a significant decline from $53.2 million in Q3 2023, representing a decrease of 86.9%[6] - Operating expenses for Q3 2024 were $190.8 million, a reduction of 6.0% compared to $202.6 million in Q3 2023[6] - The company reported a basic net income per share of $0.18 for Q3 2024, compared to $1.39 for Q3 2023[7] - Net income for the nine months ended September 30, 2024, was $40,554,000, compared to $198,190,000 for the same period in 2023, indicating a significant decrease[11] - Gross profit decreased by 29% to $700.4 million for the nine months ended September 30, 2024, with gross margins of 31.1% compared to 33.3% in the same period in 2023[104] - SG&A expenses were $473.6 million for the nine months ended September 30, 2024, representing 21.1% of revenue, down from $570.8 million (19.2% of revenue) in the same period in 2023[105] Assets and Liabilities - Total current assets decreased to $612.3 million as of September 30, 2024, down 27.2% from $841.7 million at December 31, 2023[4] - Total liabilities decreased to $1.8 billion as of September 30, 2024, down 15.0% from $2.1 billion at December 31, 2023[4] - Total assets decreased to $2.7 billion as of September 30, 2024, down 8.8% from $2.9 billion at December 31, 2023[4] - The company’s retained earnings increased to $1.5 billion as of September 30, 2024, up from $1.4 billion at December 31, 2023[4] - Total stockholders' equity increased to $890.7 million as of September 30, 2024, up from $831.3 million at December 31, 2023[4] Cash Flow - Net cash provided by operating activities for the nine months ended September 30, 2024, was $247,604,000, down from $413,295,000 in the same period in 2023[11] - Net cash used in investing activities for the nine months ended September 30, 2024, was $65,735,000, down from $88,762,000 in 2023[11] - Net cash used in financing activities during the nine months ended September 30, 2024, was $179.6 million, significantly lower than $352.8 million in the same period in 2023[115] - Cash and cash equivalents were $30.6 million as of September 30, 2024, down from $32.9 million at December 31, 2023[4] - Total cash, cash equivalents, and restricted cash amounted to $110,592,000, an increase from $108,273,000 at the beginning of the period[22] Revenue Segmentation - Revenue for the nurse and allied solutions segment was $399,368 for the three months ended September 30, 2024, down from $573,426 in the same period of 2023, indicating a decline of approximately 30.4%[41] - The nurse and allied solutions segment accounted for 60% of total consolidated revenue for the nine months ended September 30, 2024, compared to 70% for the same period in 2023[74] - Physician and leadership solutions segment revenue comprised 25% of total consolidated revenue for the nine months ended September 30, 2024, compared to 17% for the same period in 2023[75] - Technology and workforce solutions segment revenue comprised 15% of total consolidated revenue for the nine months ended September 30, 2024, compared to 13% for the same period in 2023[76] Acquisitions and Investments - The company completed the acquisition of MSI Systems Corp. and DrWanted.com LLC for an initial purchase price of $292,818, funded through borrowings under a $750,000 secured revolving credit facility[26] - The fair value of identified intangible assets from the MSDR acquisition was $92,000, with a weighted average useful life of approximately seven years[27] - Goodwill recognized for the MSDR acquisition amounted to $181,036, of which $92,208 is deductible for tax purposes[27] Market Conditions and Risks - The company faces various risks including economic downturns, labor market conditions, and potential disruptions from pandemics that could impact its financial condition and cash flows[123][124] - Demand in the travel nurse business has significantly declined and remains below pre-pandemic levels, despite an increase in open orders[79] - Allied staffing business demand is above pre-pandemic levels, showing a slight quarter-over-quarter increase and significant year-over-year growth[79] Other Financial Metrics - Interest expense increased to $14.4 million for Q3 2024 from $11.5 million in Q3 2023, primarily due to a higher average debt outstanding balance[97] - Income tax expense decreased to $0.8 million for Q3 2024 from $22.2 million in Q3 2023, with effective tax rates of 10% and 29% respectively[98] - The company recorded an accrual of $62,000 related to the settlement of the Clarke Matter, which was finalized in the second quarter of 2024[68] - The company has recognized cumulative upward adjustments of $14,033 and cumulative downward adjustments (including impairments) of $10,130 for its equity investment as of September 30, 2024[60]

EXHIBIT 99.1 AMN HEALTHCARE ANNOUNCES THIRD QUARTER 2024 RESULTS Quarterly revenue of $688 million; GAAP EPS of $0.18 and adjusted EPS of $0.61 DALLAS — AMN Healthcare Services, Inc. (NYSE: AMN), the leader and innovator in total talent solutions for healthcare organizations across the United States, today announced its third quarter 2024 financial results. Financial highlights are as follows: Dollars in millions, except per share amounts. | --- | --- | --- | --- | --- | |---------------------------|------- ...

Quarterly revenue of $688 million; GAAP EPS of $0.18 and adjusted EPS of $0.61 DALLAS, Nov. 07, 2024 (GLOBE NEWSWIRE) -- AMN Healthcare Services, Inc. (NYSE: AMN), the leader and innovator in total talent solutions for healthcare organizations across the United States, today announced its third quarter 2024 financial results. Financial highlights are as follows: Dollars in millions, except per share amounts.  Q3 2024% Change Q3 2023YTD September 30, 2024% Change YTD September 30, 2023Revenue$687.5(19%)$2,24 ...

Company Overview - AMN Healthcare Services (AMN) is expected to report a year-over-year decline in earnings due to lower revenues for the quarter ended September 2024 [1] - The consensus EPS estimate for AMN is $0.58, reflecting a significant year-over-year decrease of 70.6% [3] - Revenues are projected to be $670.08 million, down 21.5% from the same quarter last year [3] Earnings Expectations - The consensus EPS estimate has been revised 8.09% lower in the last 30 days, indicating a bearish sentiment among analysts [4] - The Most Accurate Estimate for AMN is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -3.11% [10] - AMN currently holds a Zacks Rank of 4, suggesting a less favorable outlook for beating the consensus EPS estimate [10] Historical Performance - In the last reported quarter, AMN Healthcare exceeded the expected earnings of $0.75 per share, actually posting $0.98, which was a surprise of +30.67% [11] - Over the past four quarters, AMN has consistently beaten consensus EPS estimates [12] Industry Comparison - Cencora (COR), another player in the Zacks Medical Services industry, is expected to report earnings per share of $3.21 for the same quarter, indicating a year-over-year increase of 12.2% [16] - Cencora's revenues are anticipated to be $77.68 billion, up 12.7% from the previous year [16] - Cencora has a higher Most Accurate Estimate leading to an Earnings ESP of 0.39%, combined with a Zacks Rank of 3, suggesting a likely beat of the consensus EPS estimate [17]

DALLAS, Oct. 31, 2024 (GLOBE NEWSWIRE) -- AMN Healthcare (NYSE: AMN), the leader and innovator in total talent solutions for healthcare organizations, today announced the appointment of Tomya Watt as Chief People Officer effective January 13, 2025. With more than two decades of strategic and operational experience in healthcare and talent solutions, Ms. Watt is well-equipped to guide the company's human resources function into a new era of sustainable growth. "We are thrilled to welcome Tomya Watt to AMN He ...

Ever since 2022, the peak of the COVID pandemic, AMN Healthcare (NYSE: AMN ) has fallen off its peak valuations as demand for healthcare solutions and staffing services fell to a normalized level. Now that the stock hasAmateur value investor seeking bargains in any market, with a specific focus on emerging markets. Admires great investors such as Li Lu and Peter Lynch, and am not afraid to go against the grain. Willing to buy any company at the right price, and is looking for low-risk and high uncertainty b ...

AMN Healthcare Services, Inc. (AMN) launched an innovative technology suite, WorkWise, last Wednesday. The suite is expected to unify the company's technologies into one single technology offering. Per AMN Healthcare, WorkWise has been designed to streamline workforce processes by combining the capabilities of quantifying staffing demand with predictive scheduling, automated workforce management and enhanced clinician engagement using AI technology. The technology suite will likely empower healthcare system ...