AMN Healthcare Q4 Earnings Beat Street As It Cashes In On Pandemic's Staff Shortages


AMN Healthcare Services Inc AMN, one of the largest health care staffing firms, reported record travel nurse revenue and profits in Q4 FY21.

  • Demand for workforce staffing and technology solutions grew throughout 2021 and into 2022, as healthcare organizations experienced record job vacancies, employee burnout, and quarantined workers.
  • Q4 revenues increased 116% to $1.36 billion, beating the consensus of $1.30 billion.
  • Adjusted EPS was $2.95 compared with $1.00 in the year-ago quarter, beating the consensus of $2.60.
  • The Nurse and Allied Solutions segment revenue was $1.082 billion, up 142% Y/Y and 73% sequentially. 
  • The Physician and Leadership Solutions segment reported revenue of $164 million, higher by 47% Y/Y and 9% sequentially.
  • Technology and Workforce Solutions segment revenue was $117 million, up 62% Y/Y and 17% sequentially.
  • The gross margin was 31.9%, lower by 100 basis points year over year and lower by 290 basis points sequentially, led by higher compensation for healthcare professionals and a mix shift toward lower-margin staffing businesses.
  • Share Buyback: The company expanded stock repurchase authorization by $300 million. Including $69 million of buybacks year to date, AMN has $409 million remaining on the authorization.
  • Guidance: For Q1 FY22, AMN expects sales of $1.475 billion - $1.515 billion, above the consensus of $1.14 billion.
  • Price Action: AMN shares traded higher by 6.12% at $99.00 in pre-market on the last check Friday.
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