Second-quarter revenue fell 25.3% at AMN Healthcare Services (NYSE: AMN) to $740.7 million, in line with the company’s expectations. Revenue fell in its nurse and allied solutions segment and in its technology and workforce solutions segment. Revenue rose in physician and leadership solutions.

The company announced results on Aug. 8.

“Our largest clients continue to reduce their spend on contingent labor, though we see promising signs of improvement in the travel nurse market and are heartened to see positive movement in the demand and supply factors that drive our long-term growth potential,” Cary Grace, president and CEO of AMN, said in a press release.

Grace noted growth in the company’s VMS sales pipeline improved.

Nurse and allied solutions revenue fell 35.8% year over year to $442.4 million with travel nurse revenue dropping by 42%. Allied revenue fell 17%.

Physician and leadership solutions revenue rose 5.6% with locum tenens revenue rising 17% to $143 million with the MSDR acquisition. Physician and leadership search saw revenue fall by 27%.

Technology and workforce solutions revenue fell 11% to $112.2 million. Language services revenue rose 18% to $75 million and vendor management system revenue rose 41% to $28 million.

AMN Healthcare Services - Q2 2024

Revenue by Segment

Guidance

Third-quarter revenue is forecast to be down 32% to 34% year over year.

Third-quarter revenue forecasts by segment:

• Nurse and allied solutions, down 32% to 34% year over year
• Physician and leadership solutions, up between 12% and 14% year over year
• Technology and workforce solutions, down 10% to 12% year over year