Cross Country Healthcare Announces Second Quarter 2022 Financial Results

About this update from Cross Country Healthcare, Inc.

[{"type":"text","content":" BOCA RATON, Fla.--(BUSINESS WIRE)--\nCross Country Healthcare, Inc. (the \"Company\") (Nasdaq: CCRN) today announced financial results for its second quarter ended June 30, 2022.\n\nSELECTED FINANCIAL INFORMATION:\n\n\n\n \n\n\n\n \n\n\n \n\n \n\n\n\n \n\n\n\nVariance\n\n\n\n \n\n\n\nVariance\n\n\n\n\n\n \n\n\n\n \n\n\n \n\n \n\n\n\n \n\n\n\nQ2 2022 vs\n\n\n\n \n\n\n\nQ2 2022 vs\n\n\n\n\n\nDollars are in thousands, except per share amounts\n\n\n\nQ2 2022\n\n\n\n \n\n\n\nQ2 2021\n\n\n\n \n\n\n\nQ1 2022\n\n\n\n\n\nRevenue\n\n\n\n$\n\n\n\n753,561\n\n\n \n\n \n\n\n\n\n \n\n\n\n127\n\n\n \n\n%\n\n\n\n\n \n\n\n\n(4\n\n\n\n)\n\n\n\n%\n\n\n\n\n\nGross profit margin*\n\n\n\n \n\n\n\n22.6\n\n\n \n\n%\n\n\n\n\n \n\n\n\n70\n\n\n \n\nbps\n\n\n\n\n \n\n\n\n40\n\n\n\n \n\n\n\nbps\n\n\n\n\n\nNet income attributable to common stockholders\n\n\n\n$\n\n\n\n52,894\n\n\n \n\n \n\n\n\n\n \n\n\n\n358\n\n\n \n\n%\n\n\n\n\n \n\n\n\n(15\n\n\n\n)\n\n\n\n%\n\n\n\n\n\nDiluted EPS\n\n\n\n$\n\n\n\n1.40\n\n\n \n\n \n\n\n\n\n$\n\n\n\n1.09\n\n\n \n\n \n\n\n\n\n$\n\n\n\n(0.23\n\n\n\n)\n\n\n\n\n\n\nAdjusted EBITDA*\n\n\n\n$\n\n\n\n83,490\n\n\n \n\n \n\n\n\n\n \n\n\n\n244\n\n\n \n\n%\n\n\n\n\n \n\n\n\n(14\n\n\n\n)\n\n\n\n%\n\n\n\n\n\nAdjusted EBITDA margin*\n\n\n\n \n\n\n\n11.1\n\n\n \n\n%\n\n\n\n\n \n\n\n\n380\n\n\n \n\nbps\n\n\n\n\n \n\n\n\n(120\n\n\n\n)\n\n\n\nbps\n\n\n\n\n\nAdjusted EPS*\n\n\n\n$\n\n\n\n1.40\n\n\n \n\n \n\n\n\n\n$\n\n\n\n0.93\n\n\n \n\n \n\n\n\n\n$\n\n\n\n(0.30\n\n\n\n)\n\n\n\n\n\n\nCash flows used in operations\n\n\n\n$\n\n\n\n18,141\n\n\n \n\n \n\n\n\n\n \n\n\n\n17\n\n\n \n\n%\n\n\n\n\n \n\n\n\n162\n\n\n\n \n\n\n\n%\n\n\n\n\n\n* Refer to accompanying tables and discussion of non-GAAP (Generally Accepted Accounting Principles) financial measures below.\n\n\n\n\nSecond Quarter Business Highlights\n\n\nRevenue and Adjusted EBITDA exceeded guidance ranges\n\n\nRecord number of professionals on assignment\n\n\nDouble-digit year-over-year growth across all lines of business\n\n\nAdjusted EBITDA margin of 11.1%\n\n\nLaunched Intellify, our proprietary Vendor Management System for Managed Service Programs (MSPs)\n\n\nRise in demand throughout the quarter, especially for travel assignments\n\n\n$50.0 million optional prepayment on the term loan\n\n\n“Our second quarter 2022 results reflect continued strong performance that showcases our ongoing succe...

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