Group 1 - AMN Healthcare Services, Inc. has scheduled a conference call for August 7, 2025, to discuss its Q2 2025 financial results and Q3 2025 outlook [1] - The earnings news release is expected to be issued after market close on the same day at approximately 4:15 p.m. Eastern Time [1] - A live webcast of the call will be accessible through a provided link and on AMN Healthcare's investor relations website [2] Group 2 - Following the call, a replay of the webcast will be available on the Company's investor relations website [3] - AMN Healthcare is recognized as a leader in total talent solutions for healthcare, addressing workforce challenges to improve clinical outcomes [4] - In 2024, AMN Healthcare professionals reached nearly 15 million patients across over 2,100 healthcare systems, including 87% of the top healthcare systems nationwide [4] Group 3 - The Company's common stock is listed under the symbol "AMN" on the New York Stock Exchange [5] - AMN Healthcare provides various channels for distributing information, including email alerts and RSS feeds [5] - Contact information for investor relations is available, including a dedicated Vice President for Investor Relations and Strategy [6]

Company Overview - AMN Healthcare is a leader and innovator in total talent solutions for healthcare, uniquely positioned to serve growing health systems and diverse care settings[5] - The company has over 12,000 total employees[8] - AMN Healthcare has a strong ESG/CSR track record[8] Financial Performance - In 2019, AMN Healthcare's revenue was $2.222 billion, with a gross profit of $743 million and a gross margin of 33.5%[8] - Adjusted EBITDA for 2019 was $277 million, representing an adjusted EBITDA margin of 12.5%[8] - Free cash flow in 2019 was $190 million, with a free cash flow conversion rate of 68%[8] - As of Q3 2020, Nurse and Allied Solutions accounted for 69% of revenue, Physician and Leadership Solutions 20%, and Technology and Workforce Solutions 11%[8, 11] - Managed Services Programs (MSPs) account for 56% of revenue from these segments[12] Market Position and Strategy - AMN Healthcare manages over $3.4 billion in spend under management[19] - The company is well-positioned to capture long-term U.S secular trends, including the aging population and healthcare professionals, job openings/turnover, and healthcare spend[37] - The total addressable market is approximately $22 billion, including $17 billion for the U.S Healthcare Staffing Market and $5 billion for other addressable markets[42, 43] - The company's strategic approach to M&A focuses on accretive profit margins and revenue growth, with a ROIC greater than the cost of capital[104]

Core Insights - The article discusses the potential for AMN Healthcare Services, Inc. to experience accelerated free cash flow growth due to shifts in US age demographics and the implementation of its WorkWise and ShiftWise solutions [1]. Company Overview - AMN Healthcare Services, Inc. is positioned to benefit from demographic changes in the US, which may lead to increased demand for its services [1]. Investment Strategy - The author emphasizes a focus on small and medium-cap companies, particularly in mature industries such as mining, oil and gas, and real estate, indicating a preference for deep value investments and dividend investing [1]. Financial Expectations - The author targets an internal rate of return of approximately 5%-7% for investments, reflecting a conservative investment approach [1].

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].

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]

AMN Healthcare Services, Inc. (NYSE: AMN ) recently reported high demand in therapy and imaging specialties as well as certain normalization in the industry. With an overall decrease in interest expenses driven by decreases in netBased in Europe, I am an independent investor with more than a decade of experience. I research cash flow statements and unlevered free cash flow figures. My articles may include a number of assumptions about the future free cash flow of companies. Many of those assumptions are bas ...

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 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]

Financial Data and Key Metrics Changes - The company reported first quarter revenue of $690 million, exceeding the high end of guidance by $10 million, primarily driven by strong performance in labor disruption, locum tenants, and allied businesses [6][18] - Adjusted EBITDA for the first quarter was $64 million, down 34% year over year and 15% sequentially, with an adjusted EBITDA margin of 9.3% [26] - The first quarter net loss was $1 million, compared to net income of $17 million in the prior year period [26] Business Line Data and Key Metrics Changes - Nurse and Allied Solutions revenue was $413 million, down 20% year over year, primarily due to lower volume and rates [19][20] - Travel nurse revenue decreased to $215 million, a 36% decline from the prior year [20] - Physician and Leadership Solutions segment revenue was $174 million, an 8% decrease year over year, with locum tenants revenue at $141 million, down 3% year over year [21][22] Market Data and Key Metrics Changes - The company experienced a 16% year-over-year decline in consolidated revenue, with a 6% sequential decrease [18] - Consolidated gross margin was 28.7%, slightly above guidance but down 270 basis points year over year [18][26] - Language services revenue increased by 5% year over year, while VMS revenue decreased by 33% year over year [25] Company Strategy and Development Direction - The company is focusing on enhancing its technology and automation capabilities to improve service delivery and operational efficiency [11][106] - AMN Healthcare is investing in AI tools to enhance recruiter productivity and improve service delivery [11][106] - The company aims to maintain operating leverage superior to competitors while generating cash flow for business investments and debt reduction [13] Management's Comments on Operating Environment and Future Outlook - Management noted that demand has not fully recovered to pre-pandemic levels in several business areas, including travel nursing and interim leadership [15] - The company is seeing heightened competition in language services, but believes it holds a distinct advantage due to high-quality solutions [16] - Management expressed confidence in the company's ability to support clients effectively while maintaining service quality [61] Other Important Information - The company generated $93 million in operating cash flow in the first quarter, reducing its revolving credit balance by $60 million [14][27] - The company has received industry recognition for innovation, including the 2025 Innovators Award from Modern Healthcare [14] Q&A Session Summary Question: Can you talk about the VMS and MSP wins? - Management indicated that recent wins reflect a strategy to broaden market positioning and are characterized as small to medium wins, with competitive nature [35][36] Question: What is the outlook for language services? - Management expects continued healthy growth in language services despite competitive pressures and recent consolidation in the space [39][40] Question: Are bill rates stabilizing in the travel nurse segment? - Management noted stabilization in bill rates and indicated that unfilled orders are at similar levels as before, suggesting a potential for future increases [45][46] Question: What are the capital allocation priorities? - The company prioritizes using free cash flow to pay down debt while continuing to invest in innovation and technology [90][92] Question: How is the international business expected to progress? - Management anticipates stabilization in the international business with expectations of positive growth in 2026 as visa dates move forward [83][85]

Financial Data and Key Metrics Changes - Consolidated revenue for Q1 2025 was $690 million, exceeding the high end of guidance by $10 million, driven by strong performance in labor disruption, locum tenants, and allied businesses [6][19] - Adjusted EBITDA for Q1 2025 was $64 million, down 34% year over year and 15% sequentially, with an adjusted EBITDA margin of 9.3% [26][27] - Consolidated gross margin was 28.7%, slightly above guidance but down 270 basis points year over year and 110 basis points sequentially [19][10] - The company reported a net loss of $1 million for Q1 2025, compared to net income of $17 million in the prior year [26][27] Business Line Data and Key Metrics Changes - Nurse and Allied Solutions revenue was $413 million, down 20% year over year, primarily due to lower volume and rates [20][21] - Travel nurse revenue decreased by 36% year over year to $215 million, while allied revenue was $147 million, down 13% year over year [21][22] - Physician and Leadership Solutions segment revenue was $174 million, an 8% decrease year over year, with locum tenants revenue at $141 million, down 3% year over year [22][23] - Technology and Workforce Solutions revenue was $102 million, down 9% year over year, with language services revenue increasing by 5% year over year to $75 million [24][25] Market Data and Key Metrics Changes - Demand for allied business grew mid-teens year over year, with bookings for the next school year trending towards growth [8][9] - The company noted heightened competition in language services, with industry consolidation leading to price competition [16][41] - The travel nurse market is experiencing intense competition, with some orders priced at levels that are not being filled [9][15] Company Strategy and Development Direction - The company is focused on enhancing technology and automation to improve service delivery and operational efficiency, including the rollout of new tools for recruiters [11][105] - AMN is investing in AI tools to reduce costs and improve service delivery, with a focus on maintaining high-quality service [11][105] - The company aims to leverage its diversified solutions to maintain operating leverage superior to competitors and generate cash flow for business investment [13][92] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to support clients amid ongoing labor disruption, emphasizing the importance of technology and automation [17][61] - The company anticipates continued demand growth in healthcare, despite some segments not recovering to pre-pandemic levels [15][81] - Management acknowledged a slowdown in client decision-making but noted strong demand across various business lines [94][82] Other Important Information - The company received industry recognition for innovation, being named one of the 15 innovative healthcare organizations by Modern Healthcare [14] - AMN continues to focus on debt reduction, with a net leverage ratio of 3.1 times [28][90] Q&A Session Summary Question: Can you talk about the VMS and MSP wins? - Management indicated that recent wins are small to medium in size but carry significant weight, reflecting a strategy to broaden market positioning [36][37] Question: What is the outlook for language services? - Management expects healthy growth in language services, despite competitive pressures and some margin decline [40][41] Question: Are bill rates stabilizing in the travel nurse segment? - Management noted stabilization in bill rates, with a premium spread of contingent costs to permanent labor at about 11% [46][47] Question: What is the impact of labor disruption on revenue? - Management stated that the increase in labor disruption revenue is due to improved internal focus and technology, with a stronger pipeline of opportunities [60][61] Question: How is the international business progressing? - Management expects stabilization in the international business, with a positive outlook for 2026 as visa dates move forward [83][85] Question: What are the capital allocation priorities? - The company prioritizes debt reduction while continuing to invest in innovation and technology [89][90]