Cross Country (CCRN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Cross Country Healthcare (CCRN) reported a revenue of $339.77 million for the quarter ended June 2024, reflecting a year-over-year decline of 37.2% and an EPS of $0.10 compared to $0.69 a year ago [1] - The reported revenue exceeded the Zacks Consensus Estimate of $334.33 million by 1.63%, while the EPS fell short of the consensus estimate of $0.14 by 28.57% [1] Revenue and Earnings Performance - The company experienced a significant decline in revenue from nurse and allied staffing, reporting $291.45 million, which is a 41.2% decrease year-over-year, but above the average estimate of $284.91 million [6] - Physician staffing revenue was reported at $48.32 million, slightly above the estimated $48.15 million, marking a 6.6% increase compared to the same quarter last year [5] Staffing Metrics - Nurse and allied staffing FTEs were reported at 8,415, surpassing the average estimate of 8,093 [3] - Physician staffing days filled reached 24,252, exceeding the average estimate of 18,924 [3] - Revenue per day filled for physician staffing was $1,992, higher than the average estimate of $1,894 [3] - Average revenue per FTE per day for nurse and allied staffing was $377, slightly below the average estimate of $387.50 [4] Stock Performance - Over the past month, shares of Cross Country have returned 32.2%, contrasting with the Zacks S&P 500 composite's decline of 0.4% [6] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [6]