Cross Country Healthcare ( (CCRN) ) has released its Q3 earnings. Here is a breakdown of the information Cross Country Healthcare presented to its investors.
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Cross Country Healthcare, Inc. is a tech-enabled workforce solutions and advisory firm specializing in addressing labor-related challenges within the healthcare sector, with a strong emphasis on diversity, equality, and inclusion. In its latest earnings report for the third quarter of 2024, the company announced a revenue of $315.1 million, reflecting a significant decrease of 29% year-over-year. Despite the decline in revenue, the company maintained a strong balance sheet with $64 million in cash and no debt. Key financial metrics showed a decrease in net income to $2.6 million and a diluted EPS of $0.08, highlighting a challenging quarter. However, the company experienced growth in its Physician Staffing and Homecare Staffing segments, with the former showing a 10% year-over-year increase in revenue. Cross Country also secured a three-year contract renewal with its largest managed service program, indicating stability in its operations. Looking ahead, Cross Country Healthcare remains optimistic about capitalizing on market opportunities as conditions normalize, leveraging its financial position for strategic investments aimed at long-term profitability.
