AMN Healthcare sees Q1 revenue $660M – $680M , consensus $657.8M

Sees Q1:Gross margin 28.1% – 28.6%; SG&A as percentage of revenue22.2% – 22.7%; Operating margin 0.3% – 0.4%; Adjusted EBITDA margin7.7% – 8.2% Consolidated revenue in the first quarter of 2025 is projected to be 17-20% lower than the year-ago period. Nurse and Allied Solutions segment revenue is expected to be 22-25% lower than prior year, and guidance assumes $24 million of labor disruption revenue. We expect Physician and Leadership Solutions segment revenue in the first quarter to be 9-11% lower year over year. Technology and Workforce Solutions segment revenue is projected to be down 8-10% year over year. Other first quarter estimates include depreciation expense of $19 million, depreciation in cost of services of $2 million, non-cash amortization expense of $20 million, stock-based compensation expense of $9 million, interest expense of $12 million, integration and other expenses of $3 million, an adjusted tax rate of 26%, and 38.4 million weighted average diluted shares.