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AMN Healthcare Services Jumps As Q4 Earnings Beat Expectations

·1 min read

By Sam Boughedda

Investing.com -- AMN Healthcare Services Inc (NYSE:AMN) — the temporary healthcare staffing company — reported fourth-quarter earnings that beat analyst expectations for earnings and revenue.

AMN shares jumped 10% above Thursday's close at $103.31. Earlier in the session, they hit a high of $109.73.

The company posted earnings per share of $2.95, above consensus expectations of $2.52. Revenue was $1.36 billion, compared to expectations of $1.28 billion.

AMN benefitted from the demand for workforce staffing and technology solutions during 2021, which has continued this year. They put the demand increase down to healthcare organizations experiencing record job vacancies, high turnover from employee burnout, quarantined workers, retirements, and changing worker preferences for more career flexibility.

"The accelerating nurse shortage has captured nationwide attention, including the essential role of the healthcare staffing industry to enable nurses to quickly mobilize and deliver patient care in all areas of the country. But the labor shortages and increased need for workforce solutions span far beyond nursing," said Susan Salka, Chief Executive Officer of AMN Healthcare

"Our allied staffing business hit an all-time high for travelers on assignment so far in the first quarter, and our locum tenens division saw demand surge by 25% from Q3 to Q4 and continues to be strong entering 2022," she added.

Looking forward, the company sees first quarter revenue between $1.475 billion and $1.515 billion, above the consensus of $1.14 billion.

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