For the quarter ended December 2023, Cross Country Healthcare (CCRN) reported revenue of $414.04 million, down 34.1% over the same period last year. EPS came in at $0.29, compared to $1.09 in the year-ago quarter.The reported revenue represents a surprise of +2.88% over the Zacks Consensus Estimate of $402.44 million. With the consensus EPS estimate being $0.27, the EPS surprise was +7.41%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compar ...

Cross Country Healthcare, Inc. (NASDAQ:CCRN) Q4 2023 Earnings Conference Call February 21, 2024 5:00 PM ET Company Participants Josh Vogel – Vice President-Investor Relations John Martins – President and Chief Executive Officer Bill Burns – Chief Financial Officer Marc Krug – Group President of Delivery Conference Call Participants Kevin Fischbeck – Bank of America Brian Tanquilut – Jefferies Trevor Romeo – William Blair Tobey Sommer – Truist Securities Constantine Davides – Citizens JMP Kevin Steinke – Ba ...

BOCA RATON, Fla., February 21, 2024--Cross Country Healthcare, Inc. (the "Company") (Nasdaq: CCRN) today announced financial results for its fourth quarter and full year ended December 31, 2023. * Represents amounts that are not calculated in accordance with U.S. generally accepted accounting principles (GAAP) and are referred to as non-GAAP measures. Please refer to the accompanying discussion of how these non-GAAP financial measures are calculated and used under "Non-GAAP Financial Measures" and tables re ...

Wall Street analysts expect Cross Country Healthcare (CCRN) to post quarterly earnings of $0.27 per share in its upcoming report, which indicates a year-over-year decline of 75.2%. Revenues are expected to be $402.44 million, down 35.9% from the year-ago quarter.Over the last 30 days, there has been an upward revision of 1.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course ...

Interpreting labor market data at the beginning of each year is problematic. This is because many temporary workers are hired to meet the huge demand during the holiday shopping season, and once the demand wanes, companies declare job cuts.Nonetheless, January’s labor report indicates that hiring remained healthy despite elevated interest rates, and the economy is insulated from an impending recession.The Bureau of Labor Statistics stated that nonfarm payrolls increased by 353,000 in January, way more than ...

BOCA RATON, Fla.--(BUSINESS WIRE)--Cross Country Healthcare, Inc. (Nasdaq: CCRN) will hold its quarterly conference call to discuss its fourth quarter and full year 2023 financial results on Wednesday, February 21, 2024 at 5:00 p.m. Eastern Time. Cross Country Healthcare, Inc. (the “Company”) intends to distribute its earnings press release after market close on Wednesday, February 21, 2024. This call will be webcast live and can be accessed at the Company’s website at ir.crosscountry.com or by dialing 888 ...

Cross Country Healthcare, Inc. (NASDAQ:CCRN) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET Company Participants Josh Vogel - Vice President of Investor Relations John Martins - President and Chief Executive Officer Bill Burns - Chief Financial Officer Dan White - Chief Commercial Officer Marc Krug - Group President of Delivery Conference Call Participants Brian Tanquilut - Jefferies Kevin Fischbeck - Bank of America Trevor Romeo - William Blair Tobey Sommer - Truist Securities Kevin Steinke - ...

——————— CROSS COUNTRY HEALTHCARE, INC. (Exact name of registrant as specified in its charter) ——————— Delaware 0-33169 13-4066229 (State or other jurisdiction of Incorporation or organization) Commission file number (I.R.S. Employer Identification Number) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file ...

Financial Data and Key Metrics Changes - Consolidated revenue for Q2 2023 was $541 million, with adjusted EBITDA of $44 million, exceeding the high end of guidance ranges [5][41] - Gross profit was $123 million, representing a gross margin of 22.8%, which was up 40 basis points sequentially [17] - Adjusted earnings per share was $0.69, above the high end of guidance, driven by strong performance and lower interest expense [20] Business Line Data and Key Metrics Changes - Travel business revenue decreased approximately 16% sequentially and 36% year-over-year, with average bill rates down 7% sequentially [6][72] - Physician staffing revenue increased 105% year-over-year, now on an annual revenue run rate of over $180 million [8] - Education division grew 42% year-over-year, nearing an annual revenue run rate of $100 million [8] Market Data and Key Metrics Changes - Home care staffing services revenue was down 2% year-over-year, primarily due to lower needs from a single client [22] - The overall demand for travel nurses has shown signs of gradual improvement, although the growth in the number of travelers has been slower than anticipated [31][73] Company Strategy and Development Direction - The company is focused on leveraging technology investments, particularly through the Intellify platform, to enhance operational efficiency and client service [12][33] - The strategy includes diversifying the platform and entering new markets, as evidenced by the recent acquisition and expansion into interim leadership [38] - The company aims to maintain profitability while investing in high-growth potential areas and technology initiatives [18] Management's Comments on Operating Environment and Future Outlook - Management noted that while demand has softened, there are signs of recovery, particularly in specific medical specialties [31] - The outlook for Q3 2023 anticipates revenue between $440 million and $450 million, reflecting a sequential decline due to travel bill rate pressures and seasonal impacts [37][76] - Management expressed confidence in the long-term growth potential, particularly with the expected stabilization of bill rates and increasing demand [60][127] Other Important Information - The company repaid the remaining $74 million on its term loan in June and restored a $100 million share repurchase plan [13][23] - Cash generated from operations was $119 million, the second highest quarter on record, indicating strong cash flow management [75] Q&A Session All Questions and Answers Question: What is the outlook for the relationship with MSPs moving forward? - Management indicated that MSPs remain vital to the strategy, but there is a shift towards vendor-neutral models in the marketplace [50][52] Question: Can you provide clarity on demand trend visibility given the revenue guidance adjustments? - Management acknowledged the challenges but emphasized that they are trying to provide the most accurate guidance based on current data [57][58] Question: How do you anticipate seasonal orders will play out? - Management noted that clients are looking to secure longer contracts to prepare for flu season, but visibility into the volume of orders is still developing [64][66] Question: What is the impact of MSP churn on the business? - Management confirmed that there has been higher churn than historically seen, primarily towards vendor-neutral players, but they are well-positioned to capture market share [89][92] Question: How is the company managing the gap between order rates and nurse compensation expectations? - Management highlighted that there is a disparity between current bill rates and nurse pay expectations, which they believe will reach equilibrium in the coming months [60][84]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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, 2023 Or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Transition Period From _________ to _________ ——————— CROSS COUNTRY HEALTHCARE, INC. (Exact name of registrant as specified in its charter) ——————— Delaware 0-33169 13-4066229 (St ...