Daily News
View All NewsAMN reports Q2 revenue up 41% with strong demand environment
AMN Healthcare Services Inc. (NYSE: AMN) noted a strong demand environment in the second quarter as revenue rose 40.9% year over year.
“More than ever, we are collaborating and innovating with our clients and healthcare professionals to improve the health and well-being of patients and the communities we serve,” CEO Susan Salka said.
| (US$ thousands) | Q2 2021 | Q2 2020 | % change |
| Revenue | $857,445 | $608,351 | 40.9% |
| Gross profit | $280,543 | $197,540 | 42.0% |
| Gross margin percentage | 32.7% | 32.5% | |
| Net income | $66,770 | $22,325 | 199.1% |
In the company’s nurse and allied solutions segment, AMN reported travel nurse revenue grew 37% year over year while allied revenue rose 44%.
Locum tenens revenue, which is included in AMN’s “physician and leadership solutions” segment, rose 26% year over year but was down 10% sequentially. The year-over-year increase in locum tenens revenue was driven by the numbers of days filled. Sequentially, however, days filled fell 2% as most pandemic-related work ended in the first quarter. Meanwhile, interim leadership revenue, also included in this segment, rose 30% year over year and 13% sequentially.
In AMN’s “technology and workforce solutions” segment, language services revenue was up 61% year over year while vender management system revenue was up 76% year over year to $31 million.
Revenue by segment
| (US$ thousands) | Q2 2021 | Q2 2020 | % change |
| Nurse and allied solutions | $624,485 | $444,464 | 40.5% |
| Physician and leadership solutions | $139,104 | $108,622 | 28.1% |
| Technology and workforce solutions | $93,856 | $55,265 | 69.8% |
Guidance
Overall, third-quarter revenue is forecast to increase by between 40% and 43% year over year. Nurse and allied solutions segment revenue is expected to grow 45% year over year while physician and leadership solutions revenue is expected to be up by 25% to 27%. Technology and workforce solutions segment revenue is expected to grow by 44% to 48%.
The guidance includes approximately $20 million from labor disruption-related activities.
Share price and market cap
Shares in AMN were down 0.20% to $106.26 as of 11:12 a.m. Eastern time; however, they set a new 52-week high during trading so far today when they reached $110.25, according to FT.com. AMN has a market cap of $5.03 billion.