AMN Healthcare Services, a healthcare personal services company, disappointed analysts by falling short of their expectations in fourth-quarter earnings. The company saw its shares plummet by 18% to $63.34 following this news.
Earnings and Revenue
Quarterly earnings for AMN Healthcare stood at $12.5 million, or 33 cents a share. This is in comparison to the earnings of $81.8 million, or $1.88 a share, recorded in the same quarter of the previous year. Analysts had anticipated earnings of $27.4 million, or 70 cents a share. Revenues for the quarter came in at $818.3 million, significantly lower than last year’s $1.13 billion and the projected $803.1 million.
Adjusted Earnings
Adjusted earnings, which exclude certain factors, were reported to be $1.32 a share, surpassing the $1.25 a share anticipated by analysts.
Decline in Segment Revenue
AMN Healthcare revealed that its Nurse and Allied Solutions segment experienced a decline in revenue for the quarter. The segment generated $538 million, marking a decrease of 35% year over year and 6% sequentially. Travel Nurse revenue saw a decline of 40% year over year and 8% sequentially, while Allied division revenue decreased by 16% year over year and 2% compared to the previous quarter.
Outlook for Q1
Looking ahead to the first quarter, AMN Healthcare is forecasting revenue between $810 million and $830 million. Analysts’ expectations for revenue stand at $822 million.
