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AMN AMN Healthcare Services News Story

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Brief: AMN Healthcare Services Q2 Adjusted EPS USD 0.3 Vs. IBES Estimate USD 0.19

Overview

AMN Healthcare Q2 revenue falls 11% yr/yr but beats analyst expectations, per LSEG data

Adjusted EPS of $0.30 beats estimates despite a 69% decline, per LSEG data

GAAP net loss of $116 mln due to $128 mln impairment charges

Outlook

AMN expects Q3 revenue between $610 mln and $625 mln

Company sees Q3 gross margin at 28.7%-29.2%

Nurse and Allied Solutions revenue to decline 11-14% in Q3

Technology and Workforce Solutions revenue to fall 12-14% in Q3

Result Drivers

IMPAIRMENT CHARGES - $128 mln non-cash goodwill and intangible asset impairment charges impacted GAAP loss

ALLIED STAFFING - Allied staffing business exceeded revenue projections, while other segments met expectations

CASH FLOW - Strong cash flow from operations allowed for $80 mln debt reduction

Key Details

MetricBeat/MissActualConsensus Estimate
Q2 RevenueBeat$658.20 mln$652.10 mln (9 Analysts)
Q2 Adjusted EPSBeat$0.3$0.19 (9 Analysts)
Q2 EPS-$3.02
Q2 Net Income-$116.20 mln
Q2 Gross Margin29.8%
Q2 Operating margin-18.8%
Analyst Coverage The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell" The average consensus recommendation for the healthcare facilities & services peer group is "buy." Wall Street's median 12-month price target for AMN Healthcare Services Inc is $25.50, about 32.5% above its August 6 closing price of $17.22 The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 18 three months ago Press Release: ID:nGNX75tPJ3 (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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