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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