Earnings release
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AMN Healthcare AMN Healthcare Announces Second Quarter 2021 Results August 5 , 2021 Quarterly revenue of $ 857 million ; GAAP EPS of $ 1.39 and adjusted EPS of $ 1.64 DALLAS -- ( BUSINESS WIRE ) -- AMN Healthcare Services , Inc. ( NYSE : AMN ) , the leader and innovator in total talent solutions for healthcare organizations across the United States , today announced its second quarter 2021 financial results . Financial highlights are as follows : Dollars in millions , except per share amounts . Q2 2021 % Change Q2 2020 YTD June 30 , 2021 % Change YTD June 30 , 2020 Revenue Gross profit $ 857.4 41 % $ 1,743.4 44 % $ 280.5 42 % $ 569.4 42 % Net income $ 66.8 199 % $ 137.1 289 % GAAP diluted EPS $ 1.39 196 % $ 2.86 286 % Adjusted diluted EPS * $ 1.64 98 % $ 3.34 107 % Adjusted EBITDA * $ 133.5 66 % $ 274.5 78 % * See " Non - GAAP Measures " below for a discussion of our use of non - GAAP items and the table entitled " Non - GAAP Reconciliation Tables " for a reconciliation of non - GAAP items . Business Highlights • Second quarter financial performance was better than guidance across our reportable segments driven by a strong demand environment and AMN team execution . • Increased healthcare utilization and a tight labor market have created record high demand in many areas of our business . • Revenue for the quarter was $ 857 million , 41 % above prior year . • Operating cash flow in the first half of 2021 was $ 211 million , up 64 % year over year , and our leverage ratio at quarter end was 1.7 to 1 . • Our outsourcing and technology solutions continue to be recognized as industry leading . AMN received the highest ranking for a healthcare MSP in HRO Today's customer satisfaction ratings . Our RPO solution was recognized as a Star Performer by Everest . " As the leader in our industry , the AMN team continues to amplify our impact and make extraordinary contributions as the healthcare labor market enters a new era of heightened demand and tighter supply . Healthcare organizations are partnering with AMN to build more contemporary , flexible and sustainable staffing models for the future , which will also provide greater access to patient care , " said Susan R. Salka , Chief Executive Officer of AMN Healthcare . " More than ever , we are collaborating and innovating with our clients and healthcare professionals to improve the health and well - being of patients , and the communities we serve . As always , these efforts begin with our strong commitment to diversity , equity , inclusion and social responsibility , " Ms. Salka said . " We have increased investments in our team and technologies to support and expand our ability to provide total talent solutions that empower healthcare workers and organizations , now and far into the future . " Second Quarter 2021 Results Consolidated revenue for the quarter was $ 857 million , a 41 % increase over prior year and 3 % lower than prior quarter . Net income was $ 67 million ( 7.8 % of revenue ) , or $ 1.39 per diluted share , compared with $ 22 million ( 3.7 % of revenue ) , or $ 0.47 per diluted share , in the same quarter last year . Adjusted diluted EPS in the second quarter was $ 1.64 compared with $ 0.83 in the same quarter of the prior year . Revenue for the Nurse and Allied Solutions segment was $ 624 million up 41 % year over year and down 5 % sequentially . Travel nurse staffing revenue grew 37 % year over year , and allied division revenue was up 44 % year over year . Revenue cycle solutions revenue grew 9 % from prior year . The Physician and Leadership Solutions segment reported revenue of $ 139 million , up 28 % year over year and down 1 % sequentially . Locum tenens revenue was $ 78 million , up 26 % year over year and down 10 % sequentially . Year - over - year growth in locums was driven by stronger days filled , while the sequential comparison saw a 2 % decrease in days filled as most pandemic - related work ended in the first quarter . Interim leadership revenue was higher by 30 % year over year and 13 % sequentially . Our physician and leadership search businesses had revenue growth of 33 % year over year and 12 % sequentially . Technology and Workforce Solutions segment revenue was $ 94 million , an increase of 70 % year over year . Language services produced $ 46 million revenue in the quarter , up 61 % over prior year . Vendor management systems revenue was $ 31 million growing by 76 % year over year .