Earnings release
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AMN Healthcare AMN Healthcare Announces Third Quarter 2021 Results November 4 , 2021 Quarterly revenue of $ 878 million ; GAAP EPS of $ 1.54 and adjusted EPS of $ 1.73 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 third quarter 2021 financial results . Financial highlights are as follows : Dollars in millions , except per share amounts . Q3 2021 % Change Q3 2020 YTD September 30 , 2021 Revenue Gross profit $ 877.8 59 % $ 2,621.2 $ 305.9 66 % $ 875.3 Net income $ 74.0 184 % $ 211.2 GAAP diluted EPS $ 1.54 182 % $ 4.40 Adjusted diluted EPS * $ 1.73 112 % $ 5.07 Adjusted EBITDA * $ 138.4 80 % $ 412.8 % Change YTD September 30 , 2020 49 % 50 % 244 % 241 % 109 % 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 • Revenue from all segments exceeded guidance in the third quarter , demonstrating the significant value of AMN's Total Talent Solutions and the superior delivery of our team . • Severe workforce shortages and growing patient volumes have elevated healthcare labor demand to unprecedented levels , leading to our record - high guidance for the fourth quarter . • Revenue for the third quarter was $ 878 million , 59 % above prior year and 11 % above the high end of our guidance range . Adjusted EBITDA grew 80 % year over year on 59 % revenue growth . • • With this strong performance , we are investing significantly in our team members and increasing support for our clients , healthcare professionals and communities . " We are deeply grateful for the hard work of all healthcare professionals and organizations and the incredibly talented team at AMN . Our country is experiencing the most severe healthcare labor shortage in history , and it will likely persist for many years to come and forever change the workforce management paradigm for healthcare organizations , " said Susan R. Salka , Chief Executive Officer of AMN Healthcare . " With an expectation of this environment continuing for the foreseeable future , our team is rapidly deploying digital solutions , automation and hiring a record number of new team members to enable placement of healthcare professionals now and evolve AMN's solutions to meet this higher demand long term . " As the industry leader with the most diverse staffing and workforce technology solutions , AMN Healthcare is well positioned to invest in the future , " Ms. Salka said . " We carry a great sense of compassion , urgency and responsibility to take care of our team members , communities , healthcare professionals , and clients . The healthcare community has a long road ahead to endure the workforce challenges created by the pandemic . The essential nature of AMN's solutions and the importance of partnering with healthcare organizations has been elevated to a new level . The growing and dedicated AMN team is stronger than ever and working hard every day to ensure we are aiding in the well - being of all and empowering the future of care . " Third Quarter 2021 Results Consolidated revenue for the quarter was $ 878 million , a 59 % increase over prior year and 2 % above prior quarter . Net income was $ 74 million ( 8.4 % of revenue ) , or $ 1.54 per diluted share , compared with $ 26 million ( 4.7 % of revenue ) , or $ 0.55 per diluted share , in the same quarter last year . Adjusted diluted EPS in the third quarter was $ 1.73 compared with $ 0.82 in the same quarter of the prior year . Revenue for the Nurse and Allied Solutions segment was $ 627 million up 64 % year over year and up slightly from the prior quarter . Travel nurse staffing revenue grew 56 % year over year , and allied division revenue was up 62 % over that span . Segment revenue included $ 23 million related to labor disruption activities . The Physician and Leadership Solutions segment reported revenue of $ 151 million , growing 38 % year over year and 8 % sequentially . Locum tenens revenue was $ 89 million , up 31 % year over year and 14 % sequentially . Interim leadership revenue grew by 59 % year over year and was flat sequentially . Our physician and leadership search businesses produced revenue growth of 33 % year over year and 4 % sequentially . Technology and Workforce Solutions segment revenue reached $ 100 million , an increase of 67 % year over year . Language services revenue was $ 47