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Cross Country Healthcare (CCRN)
NASDAQ:CCRN
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.11Last Year’s EPS
$0.29Same Quarter Last Year
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: 47.41%
|Next Earnings Date:Feb 19, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted positive growth in home care, physician staffing, and education segments, along with strong financial management. However, significant declines in revenue and ongoing margin pressures in the Travel Nursing & Allied segment present notable challenges.Company Guidance
During the third quarter 2024 earnings call for Cross Country Healthcare, key guidance metrics were discussed for the upcoming fourth quarter. The company projects revenue to range between $300 million and $310 million, with an anticipated adjusted EBITDA of $11 million to $13 million, reflecting ongoing gross margin pressures due to competitive compensation packages affecting bill pay spreads. Despite a 7% sequential decline in third-quarter revenue to $315 million, there was a notable 20% increase in order volume entering the fourth quarter. The Physician Staffing segment grew 4% sequentially and 10% year-over-year, while Home Care Staffing experienced a 13% year-over-year increase. The company highlighted an anticipated regrowth in Travel Nursing & Allied as market conditions improve. Additionally, Cross Country Healthcare bought back 800,000 shares for approximately $12 million and plans to focus on strategic investments and M&A opportunities, maintaining a strong cash position with $64 million and no outstanding debt.Home Care Staffing Growth
Home care staffing saw a 13% year-over-year increase in the third quarter, with expectations for mid-teens growth in the fourth quarter. The number of PACE programs has doubled since the acquisition in 2021.
Physician Staffing Expansion
Physician Staffing grew 4% sequentially and 10% year-over-year. The business has doubled in size since late 2022 and is expected to continue growing in double digits in 2024.
Education Business Performance
The education business is approaching $100 million on an annualized run rate with expected continued mid to high single-digit growth.
Intellify Platform Implementation
The company renewed its largest MSP customer under a multi-year agreement and has nearly completed client conversion to the Intellify platform.
Share Buyback and Financial Strength
Bought back 800,000 shares worth $12 million in the third quarter, with a strong cash position of $64 million and no outstanding debt.
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CCRN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CCRN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $12.15 | $12.27 | +0.99% |
| Jul 31, 2024 | $18.24 | $17.55 | -3.78% |
| May 01, 2024 | $17.90 | $16.74 | -6.48% |
| Feb 21, 2024 | $17.02 | $16.99 | -0.18% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Cross Country Healthcare (CCRN) report earnings?
Cross Country Healthcare (CCRN) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Cross Country Healthcare (CCRN) earnings time?
Cross Country Healthcare (CCRN) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CCRN EPS forecast?
CCRN EPS forecast for the fiscal quarter 2024 (Q4) is $0.11.
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