Overview

* AMN Healthcare Q3 revenue of $634 mln beats analyst expectations despite 8% yr/yr decline

* Adjusted EPS of $0.39 for Q3 beats analyst expectations, down 36% yr/yr

* Company refinanced senior notes and extended credit facility, enhancing financial flexibility

Outlook

* Company expects Q4 revenue between $715 mln and $730 mln

* Nurse and Allied Solutions revenue expected to rise 1-3% year-over-year

* Technology and Workforce Solutions revenue projected to decline 14-16% year-over-year

Result Drivers

* REVENUE GUIDANCE EXCEEDED - Co's Nurse and Allied Solutions and Physician and Leadership Solutions segments performed better than expectations, contributing to revenue exceeding guidance

* SG&A MANAGEMENT - Effective management of SG&A expenses resulted in a higher-than-expected adjusted EBITDA margin

* STAFFING ORDERS REBOUND - Co reports a rebound in staffing orders and higher winter order volume

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $634.50 $618.10

Revenue mln mln (9

Analysts

)

Q3 Beat $0.39 $0.21 (8

Adjusted Analysts

EPS )

Q3 EPS $0.76

Q3 Net $29.30

Income mln

Q3 Gross 29.10%

Margin

Q3 7.50%

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 $21.00, about 1.8% above its November 5 closing price of $20.63

* The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release:

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(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.)