Revenue at Cross Country Healthcare (NASDAQ: CCRN) fell 37% year over year in the second quarter to $339.8 million. Nurse and allied staffing revenue fell 41% at the Boca Raton, Florida-based healthcare staffing provider; however, physician staffing revenue rose 7%. The firm said the market may be near an inflection point.

“Our second-quarter results were in line with expectations, reflecting our ability to execute in a challenging environment for core nurse and allied,” President and CEO John Martins said in a press release.

“Coming into the back half of the year, I am encouraged by a rise in the level of demand for our services and cautiously optimistic that we are nearing an inflection point in our ability to grow the number of professionals on assignment,” Martins continued.

Nurse and allied staffing revenue was down 41% year over year in the second quarter to $291.5 million. Average field contract personnel on a full-time equivalent basis fell to 8,415 from the year ago quarter’s number of 11,385.

Physician staffing revenue rose 7% to $48.3 million in the second quarter. Total days filled rose to 24,252 in the quarter from 23,826 in the second quarter of 2023.

Cross Country Healthcare - Q2 2024

Revenue by Segment

Guidance

Cross Country forecast third-quarter revenue of between $305 million and $315 million, a year-over-year decline of between 29% and 31%.