Overview

* AMN Healthcare Q2 revenue falls 11% yr/yr but beats analyst expectations, per LSEG data

* Adjusted EPS of $0.30 beats estimates despite a 69% decline, per LSEG data

* GAAP net loss of $116 mln due to $128 mln impairment charges

Outlook

* AMN expects Q3 revenue between $610 mln and $625 mln

* Company sees Q3 gross margin at 28.7%-29.2%

* Nurse and Allied Solutions revenue to decline 11-14% in Q3

* Technology and Workforce Solutions revenue to fall 12-14% in Q3

Result Drivers

* IMPAIRMENT CHARGES - $128 mln non-cash goodwill and intangible asset impairment charges impacted GAAP loss

* ALLIED STAFFING - Allied staffing business exceeded revenue projections, while other segments met expectations

* CASH FLOW - Strong cash flow from operations allowed for $80 mln debt reduction

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $658.20 $652.10

Revenue mln mln (9

Analysts

)

Q2 Beat $0.3 $0.19 (9

Adjusted Analysts

EPS )

Q2 EPS -$3.02

Q2 Net -$116.20

Income mln

Q2 Gross 29.8%

Margin

Q2 -18.8%

Operatin

g margin

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the healthcare facilities & services peer group is "buy."

* Wall Street's median 12-month price target for AMN Healthcare Services Inc ( AMN ) is $25.50, about 32.5% above its August 6 closing price of $17.22

* The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 18 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)