Daily News

View All News

AMN revenue jumps 45%, reports demand at historic levels

November 05, 2015

AMN Healthcare Services Inc. (NYSE: AHS), the largest US healthcare staffing firm, reported demand is at historically high levels. Third-quarter revenue rose 45%, driven by organic growth of 29%.

Third-quarter gross margin improved to 32.9% from 30.4%. The increase came through an increased revenue mix of higher-margin workforce solutions businesses along with a gross margin increase in the locum tenens staffing segment, according to the company.

Net income nearly tripled in the third quarter.

(US$ thousands) Q3 2015 Q3 2014 % growth
Revenue $382,859 $264,584 44.7%
Gross profit $126,009 $80,306 56.9%
Gross margin percentage 32.9% 30.4%  
Net income $33,647 $8,499 295.9%

Quote

“The AMN Healthcare team continues to deliver exceptional service and results to our clients amidst a strong demand environment, resulting in better than anticipated revenue and profitability growth in the third quarter,” said President and CEO Susan Salka. “In addition to our focus on organic growth, we continue to expand AMN’s capabilities, including our most recent acquisitions of The First String and Millican Solutions, which further bolster our physician executive and nurse leadership recruitment capabilities. With a continuing robust demand outlook in all of our business segments, we remain focused on delivering superior value to our clients and healthcare professionals through continued expansion of our innovative workforce solutions and recruitment strategies.”  

Revenue by segment

(US$ thousands) Q3 2015 Q3 2014 % growth
Nurse and allied healthcare staffing $266,279 $174,292 52.8%
Locum tenens staffing $101,755 $78,816 29.1%
Physician permanent placement services $14,825 $11,476 29.2%

Guidance

AMN forecasts fourth-quarter revenue of $385 million to $390 million. Gross margin is forecast to be approximately 32.0%.

Share price and market cap

Shares in AMN rose 2.39% in early afternoon trading today to $29.60, and the company had a market cap of $1.41 billion, according to Yahoo!