Core Viewpoint - AMN Healthcare Services, Inc. reported a significant decline in adjusted earnings per share and revenues for the first quarter of 2025, although the adjusted EPS exceeded consensus estimates. The company anticipates continued revenue declines across all segments in the upcoming quarter, raising concerns about its financial performance [1][10][12]. Revenue Summary - AMN Healthcare's total revenues for Q1 2025 were $689.5 million, reflecting a 16% decrease year over year, but surpassing the Zacks Consensus Estimate by 2.7% [2]. - The Nurse and Allied Solutions segment generated revenues of $413.3 million, down 20.4% year over year, with travel nurse staffing revenues declining by 36% [4]. - The Physician and Leadership Solutions segment reported revenues of $174.1 million, a decrease of 7.8% year over year, with locum tenens revenues down 3% [5]. - The Technology and Workforce Solutions segment's revenues totaled $102.2 million, down 9.4% year over year, although language interpretation services saw a 5% increase [6]. Margin Analysis - AMN Healthcare's gross profit fell by 23.1% year over year to $198.1 million, with a gross margin contraction of 264 basis points to 28.7% [7]. - Adjusted operating profit was $50.4 million, reflecting a 39% decline from the prior year, and the adjusted operating margin contracted 276 basis points to 7.3% [7]. Financial Position - At the end of Q1 2025, AMN Healthcare had cash and cash equivalents of $55.8 million, up from $10.6 million at the end of 2024. Total debt decreased to $1 billion from $1.060 billion [8]. - Net cash provided by operating activities was $92.7 million, compared to $81.4 million a year ago [8]. Guidance - For Q2 2025, AMN Healthcare expects revenues to be in the range of $645 million to $660 million, indicating an 11-13% decline compared to the previous year [10]. - The company anticipates a revenue decline of 14-17% in the Nurse and Allied Solutions segment, 8-10% in the Technology and Workforce Solutions segment, and 5-7% in the Physician and Leadership Solutions segment [11]. Market Reaction - Following the earnings report, AMN Healthcare's shares gained nearly 9.2% in after-hours trading, indicating a positive market reaction despite the overall disappointing financial performance [2].