AMN Healthcare Services Inc. (NYSE: AMN) reported third-quarter revenue fell 25.0% year over year to $853.5 million but was in line with expectations. The healthcare staffing firm reported revenue in its nurse and allied solutions performed better than expected, though it was still down by 30.8%. Travel nurse revenue, which is included in the segment, was down 34% year over year while allied revenue fell 12%.

AMN expects the post-pandemic downtrend in the nurse and allied market to taper off in the fourth quarter.

“The AMN team did an impressive job balancing business execution in the third quarter alongside our initiatives to sharpen our strategic plan and implement powerful advancements in our technology platform and processes,” President and CEO Cary Grace said in a press release. “At the same time, we made an important strategic move with the pending acquisition of MSDR, which will bolster our presence in the robust locum tenens market.”

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Guidance

AMN forecast fourth-quarter revenue to be down between 33% and 35% year over year. It expects nurse and allied revenue to be down between 33% and 35%, while physician and leadership revenue is forecast to be down between 12% and 14%. Technology and workforce solutions revenue is expected fall by 18% in the fourth quarter.