Cross Country Healthcare Announces Third Quarter 2021 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 third quarter ended September 30, 2021.\n\nSELECTED FINANCIAL INFORMATION:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nVariance\n\n\n\nVariance\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\nQ3 2021 vs\n\n\n\nQ3 2021 vs\n\n\n\n\n\nDollars are in thousands, except per share amounts\n\n\n\nQ3 2021\n\n\n\nQ3 2020\n\n\n\nQ2 2021\n\n\n\n\n\nRevenue\n\n\n\n$\n\n\n\n374,905\n\n\n\n \n\n\n\n \n\n\n\n93\n\n\n\n \n\n\n\n%\n\n\n\n13\n\n\n\n \n\n\n\n%\n\n\n\n\n\nGross profit margin*\n\n\n\n22.4\n\n\n\n \n\n\n\n%\n\n\n\n(230)\n\n\n\n \n\n\n\nbps\n\n\n\n50\n\n\n\n \n\n\n\nbps\n\n\n\n\n\nNet income attributable to common shareholders\n\n\n\n$\n\n\n\n23,433\n\n\n\n \n\n\n\n \n\n\n\n1,857\n\n\n\n \n\n\n\n%\n\n\n\n103\n\n\n\n \n\n\n\n%\n\n\n\n\n\nDiluted EPS\n\n\n\n$\n\n\n\n0.62\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.66\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.31\n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted EBITDA*\n\n\n\n$\n\n\n\n30,127\n\n\n\n \n\n\n\n \n\n\n\n250\n\n\n\n \n\n\n\n%\n\n\n\n24\n\n\n\n \n\n\n\n%\n\n\n\n\n\nAdjusted EBITDA margin*\n\n\n\n8.0\n\n\n\n \n\n\n\n%\n\n\n\n360\n\n\n\n \n\n\n\nbps\n\n\n\n70\n\n\n\n \n\n\n\nbps\n\n\n\n\n\nAdjusted EPS*\n\n\n\n$\n\n\n\n0.61\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.49\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.14\n\n\n\n \n\n\n\n \n\n\n\n\n\nCash flows used in operations\n\n\n\n$\n\n\n\n(2,831)\n\n\n\n \n\n\n\n \n\n\n\n67\n\n\n\n \n\n\n\n%\n\n\n\n(118)\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\nBusiness Highlights\n\n\nYear-to-date revenue exceeded $1.0 billion for the first time in the Company's history\n\n\nYear-over-year and sequential increase in volume across all segments\n\n\nThird quarter financial performance exceeded guidance across all areas\n\n\nAdjusted EBITDA margin exceeded 8% for the second time this year\n\n\nRecognized as one of the top four staffing and recruiting employers for women\n\n\nStrong double digit growth from Cross Country Workforce Solutions Group\n\n\n“Our performance demonstrates the success we are having in bringing clinicians to the bedside across the nation,” said Kevin Clark, Co-Founder and CEO. He continued, “Higher bill rates are really only part ...

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