AMN Healthcare Announces Preliminary Fourth Quarter 2021 Revenue; To Present at J.P. Morgan Healthcare Conference
10 Januar 2022 - 02:30PM
Business Wire
AMN Healthcare Services (NYSE: AMN) is providing preliminary
unaudited consolidated revenue results for the fourth quarter of
2021 to facilitate the Company’s participation in the 40th Annual
J.P. Morgan Healthcare Conference on January 11, 2022. Based on
preliminary financial information, the Company expects consolidated
revenues for the quarter to be between $1.35 billion and $1.36
billion.
These preliminary results exceeded prior guidance, issued on
November 4, 2021, due to strong demand across all revenue segments
led by the Nurse and Allied segment and approximately $70 million
more labor disruption revenue than included in the guidance. This
update is based on management’s initial assessment of operations
for the quarter ended December 31, 2021. The Company expects to
issue full financial results for the fourth quarter and fiscal year
2021 in February.
The Company also is raising its fourth quarter 2021 operating
margin and adjusted EBITDA margin guidance provided in the November
4, 2021 press release. The Company expects that its fourth quarter
2021 operating margin and adjusted EBITDA margin will be slightly
above the high end of its previously provided guidance ranges of
11.8-12.3% and 15.3-15.8%, respectively.
“Healthcare labor shortages are pervasive and expected to
persist for some time, highlighting the need for short- and
long-term workforce solutions and leading to wage inflation. These
influences were even stronger than expected in the fourth quarter
of 2021 and are continuing into 2022,” said Susan R. Salka, AMN
Chief Executive Officer. “Demand for all of our talent solutions
remains near record levels, and we expect first quarter 2022
revenue to be more than $1.1 billion.”
During the J.P. Morgan Healthcare Conference, Ms. Salka will
give a presentation on January 11, 2022 at 5:15 p.m. PST followed
by a question-and-answer session. During the presentation, Ms.
Salka will discuss the Company’s recent operational and financial
developments and trends. Statements in this presentation and
management’s answers to questions may contain or constitute
material information that the Company has not previously disclosed
publicly. A live webcast and audio archive of the presentation and
question and answer session will be available via the Investor
Relations section of the Company’s Web site at
https://ir.amnhealthcare.com or by clicking on the link below:
https://ir.amnhealthcare.com/events-and-presentations/event-details/2022/Presentation-at-40th-Annual-JP-Morgan-Healthcare-Conference/default.aspx
Participants should allow approximately five to ten minutes
prior to the presentation’s start time to visit the site and
download any streaming media software needed to listen to the
Internet webcast. A replay of the webcast will be available on the
Company’s Web site for 90 days.
Non-GAAP Measures
This press release contains certain non-GAAP financial
information, which the Company provides as additional information,
and not as an alternative, to the Company’s condensed consolidated
financial statements presented in accordance with GAAP. The
non-GAAP financial measure included in this press release is
adjusted EBITDA margin. The Company provides adjusted EBITDA
because management believes it is useful to both management and
investors as a supplement, and not as a substitute, when evaluating
the Company’s operating performance. Additionally, management
believes that adjusted EBITDA margin also serves as an industrywide
financial measure. The Company uses adjusted EBITDA margin for
making financial decisions, allocating resources and for
determining certain incentive compensation objectives. The adjusted
EBITDA margin provided in this release is not in accordance with,
or an alternative to, GAAP measures and may be different from
non-GAAP measures, or may be calculated differently than other
similarly titled non-GAAP measures reported by other companies.
Adjusted EBITDA margin should not be used in isolation to evaluate
the Company’s performance. A reconciliation of the adjusted EBITDA
guidance identified in this release, along with further detail
about the use and limitations of the Company’s non-GAAP measures,
may be found in the Company’s press release announcing its third
quarter 2021 financial results on November 4, 2021.
Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements include, among others,
statements concerning the demand for our services, fourth quarter
2021 consolidated revenue and our fourth quarter guidance for
consolidated operating margin and adjusted EBITDA margin and the
outlook for first quarter 2022 revenues. The guidance and
preliminary financial projection set forth in this press release
reflect the Company’s current preliminary projections prior to
completion of the Company’s audit process and are subject to
change. The Company’s full fourth quarter 2021 results and first
quarter 2022 revenues could differ materially from the preliminary
projection and guidance provided in this press release. You are
cautioned not to place undue reliance on the guidance and
preliminary projection, which reflect management’s views only as of
the date of this press release. We undertake no obligation to
publicly release the results of any revision or update of the
preliminary projection or guidance, except as required by law.
Factors that could cause the Company’s actual fourth quarter 2021
results to vary from the preliminary projection and guidance noted
in this press release include (i) variances between the Company’s
preliminary revenue accruals and its actual results, (ii) the
Company’s ability to execute its standard processes for
consolidating results across multiple business lines, (iii) the
Company’s assessment of accrued liabilities, and (iv) the Company’s
treatment of certain expenses during the quarter.
About AMN Healthcare
AMN Healthcare is the leader and innovator in total talent
solutions for healthcare organizations across the United States.
The Company provides access to the most comprehensive network of
quality healthcare professionals through its innovative recruitment
strategies and breadth of career opportunities. With insights and
expertise, AMN Healthcare helps providers optimize their workforce
to successfully reduce complexity, increase efficiency and improve
patient outcomes. AMN total talent solutions include managed
services programs, clinical and interim healthcare leaders,
temporary staffing, executive search solutions, vendor management
systems, recruitment process outsourcing, predictive modeling,
language interpretation services, revenue cycle solutions,
credentialing, and other services. Clients include acute-care
hospitals, community health centers and clinics, physician practice
groups, retail and urgent care centers, home health facilities,
schools, and many other healthcare settings. AMN Healthcare is
committed to fostering and maintaining a diverse team that reflects
the communities we serve. Our commitment to the inclusion of many
different backgrounds, experiences and perspectives enables our
innovation and leadership in the healthcare services industry. For
more information about AMN Healthcare, visit
www.amnhealthcare.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220110005215/en/
Media Contact Jim Gogek
Corporate Communications AMN Healthcare (858) 350-3209
Jim.Gogek@amnhealthcare.com
Investor Contact Randle
Reece, CFA Senior Director, Investor Relations AMN Healthcare (866)
861-3229 ir@amnhealthcare.com
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