AMN
AMN Healthcare Services, Inc.15.82
-0.17-1.06%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Strikes contained; visas boost international.
Q&A clarified that Q1's $600M labor disruptions, powered by dedicated teams and playbooks, won't derail core Nurse and Allied growth—guidance holds steady ex-strikes. A surprise visa bulletin advanced dates 4 months for rest-of-world and 2 for Philippines, juicing international staffing toward mid-teens 2026 growth. Management swatted AI disruption fears in language services, blaming competitor pricing and immigration instead, while embracing AI for recruiting speed. Strikes tested—and proved—their rebuilt platform. Ex-strike margins track Q4 run-rate; tone stays confident on 4-6% long-term organic growth as hospital hiring normalizes.
Key Stats
Market Cap
607.71MP/E (TTM)
-Basic EPS (TTM)
-7.20Dividend Yield
0%Recent Filings
10-K
FY2025 results
AMN Healthcare's FY2025 revenue fell 8% y/y to $2.73B, with nurse and allied solutions down 9% to $1.65B on 14% fewer travelers despite labor disruption uplift, while physician solutions dipped 4% to $696M and technology solutions dropped 12% to $387M; Q4 saw sequential volume gains in nurse staffing from winter orders and a major strike, plus allied school demand, with bill rates stabilizing flat y/y. Gross margins compressed to 28.3% on pay package pressures, offset somewhat by sales mix; net loss narrowed to $(96)M from $(147)M amid $110M physician goodwill impairment and $39M Smart Square sale gain, with $767M debt post-2027 Notes redemption. Operating cash flow held at $269M; $227M remains for buybacks. Kaiser drove 22% revenue. Hospital consolidation pressures pricing, risking client concentration.
8-K
Q4 revenue $748M, FY down 8%
AMN Healthcare posted Q4 2025 revenue of $748M, up 2% year-over-year but with GAAP loss of ($0.20)/share amid $124M labor disruption revenue; full-year revenue fell 8% to $2.73B. Nurse and allied staffing surged 36% sequentially on winter orders and disruptions, while margins contracted to 26.1%. Debt slashed $285M to $775M. Q1 2026 eyes $1.23B revenue, fueled by $600M disruptions.
8-K
Director retires; Palmer nominated
AMN Healthcare's Board director R. Jeffrey Harris retires effective at the 2026 annual meeting, with no disagreements cited. The Board will nominate Eric Palmer, boasting over 25 years transforming healthcare services, Cigna strategy, and Evernorth leadership. Smooth transition. Palmer's insurance expertise bolsters governance amid sector shifts.
8-K
AMN eyes 2026 rebound
AMN Healthcare presented at the J.P. Morgan Healthcare Conference on January 14, 2026, outlining stabilization signs and 2026 growth from a $2.5B revenue base with ~6% Adjusted EBITDA margin. Higher-margin lines like locums and international nursing rebound, while tech platforms boost fill rates. Debt paydown aids cash flow. Growth resumes.
8-K
Bylaws amended for governance
AMN Healthcare's board approved amended and restated bylaws on December 11, 2025, effective immediately. Changes align with Delaware law developments, tighten stockholder special meeting and nomination procedures, and clarify board powers over meeting conduct. Directors must now be available for board interviews. Routine governance housekeeping.
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