31 Revenue increased $72.1 million, or 67.8% to $178.3 million for the year ended December 31, 2023, as compared to $106.2 million for the year ended December 31, 2022, primarily related to the Mint acquisition as well as an increase in volume in most specialties and an improved mix of higher bill rate specialties. Contribution income for the year ended December 31, 2023, increased $4.3 million or 77.7% to $9.8 million as compared to $5.5 million in the year ended December 31, 2022, driven by higher revenue ...

BOCA RATON, Fla.--(BUSINESS WIRE)--Cross Country Healthcare, a market-leading, tech-enabled workforce solutions platform and advisory firm, is proud to announce that John A. Martins has been recognized on the Staffing Industry Analysts (SIA) Staffing 100 list of the most influential people in the industry. "I'm deeply honored to be included in the SIA's Staffing 100 list. This recognition is a testament to our team's commitment to driving innovation and excellence in the staffing industry,” said John A. ...

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 ...

Financial Performance - Fourth quarter revenue was $414.0 million, a decrease of 34% year-over-year, while full year revenue was $2.0 billion, down 28% from the previous year[4] - Gross profit margin for Q4 2023 was 21.9%, a decline of 20 basis points year-over-year, and the full year gross profit margin was 22.3%, down 10 basis points[4] - Net income attributable to common stockholders for Q4 2023 was $9.0 million, or $0.26 per diluted share, compared to $38.8 million, or $1.06 per diluted share in Q4 2022, representing a 77% decrease[4] - Adjusted EBITDA for Q4 2023 was $20.6 million, a decrease of 64% year-over-year, with an adjusted EBITDA margin of 5.0%[4] - Revenue for the Nurse and Allied Staffing segment was $46.9 million, an increase of 26% year-over-year[34] - Adjusted EPS for Q1 2024 is projected to be between $0.15 and $0.25, down from $0.69 in the prior year[38] - Adjusted net income attributable to common stockholders for Q4 2023 was $10,169 million, down from $40,300 million in Q4 2022[49] - The company reported an adjusted EPS of $0.29 for Q4 2023, down from $1.09 in Q4 2022[49] Cash Flow and Liquidity - Cash flow from operations for Q4 2023 was $12.1 million, with a record full year cash flow of $248.5 million, an 85% increase year-over-year[4] - Net cash provided by operating activities for the quarter was $12.1 million, with a total of $248.5 million for the year[35] - As of December 31, 2023, the company had $17.1 million in cash and cash equivalents with no debt outstanding[36] - Cash and cash equivalents increased significantly from $3,604 million in December 31, 2022 to $17,094 million in December 31, 2023, representing a growth of 373.5%[60] Operational Highlights - Physician staffing and education segments experienced annual double-digit revenue growth despite overall revenue decline[4] - The company invested over $20 million in core technologies, including Intellify and Xperience, to enhance service offerings[4] - The company ended the year debt-free after repaying $73.9 million on its term loan[4] - Total days filled in the Nurse and Allied Staffing segment were 23,578, compared to 21,335 in the prior year[34] - Revenue per day filled in the Nurse and Allied Staffing segment was $1,988, up from $1,740 in the prior year[34] - The average revenue per FTE per day for Nurse and Allied Staffing decreased from $510 in December 31, 2022 to $414 in December 31, 2023[65] - The number of FTEs for Nurse and Allied Staffing decreased from 12,447 in December 31, 2022 to 9,570 in December 31, 2023, a decline of approximately 23%[65] Future Outlook - The company expects Q1 2024 revenue to be in the range of $370 million to $380 million, representing a year-over-year decline of 41% to 39%[38] - Future goals include expanding the client base and driving operational efficiency to improve margins[4] Costs and Expenses - Restructuring costs for Q4 2023 amounted to $863 million, significantly higher than $2 million in Q4 2022[49] - The company incurred $1.1 million in legal fees related to a wage and hour class action lawsuit in 2023[57] - Acquisition and integration-related costs were recorded as $196 million in Q4 2022, with no costs reported for Q4 2023[49] - The company experienced a loss on early extinguishment of debt of $1,816 million in Q4 2022, with no such loss reported in Q4 2023[49] Balance Sheet - Total current assets decreased from $675,673 million in December 31, 2022 to $415,153 million in December 31, 2023, a decline of approximately 38.5%[60] - Total liabilities decreased from $490,620 million in December 31, 2022 to $205,924 million in December 31, 2023, a reduction of approximately 58%[60] - Income from operations for the three months ended December 31, 2023 was $13,424 million, a decrease of 74% compared to $51,464 million in the same period of 2022[61]

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 ...