Cross Country Healthcare Announces Third 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 third quarter ended September 30, 2022.\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 2022 vs\n\n\n\nQ3 2022 vs\n\n\n\n\n\nDollars are in thousands, except per share amounts\n\n\n\nQ3 2022\n\n\n\nQ3 2021\n\n\n\nQ2 2022\n\n\n\n\n\nRevenue\n\n\n\n$\n\n\n\n636,098\n\n\n\n \n\n\n\n \n\n\n\n70\n\n\n\n%\n\n\n\n \n\n\n\n(16)\n\n\n\n%\n\n\n\n\n\nGross profit margin*\n\n\n\n \n\n\n\n22.6\n\n\n\n%\n\n\n\n \n\n\n\n20\n\n\n\nbps\n\n\n\n \n\n\n\n—\n\n\n\nbps\n\n\n\n\n\nNet income attributable to common stockholders\n\n\n\n$\n\n\n\n34,793\n\n\n\n \n\n\n\n \n\n\n\n48\n\n\n\n%\n\n\n\n \n\n\n\n(34)\n\n\n\n%\n\n\n\n\n\nDiluted EPS\n\n\n\n$\n\n\n\n0.93\n\n\n\n \n\n\n\n$\n\n\n\n0.31\n\n\n\n \n\n\n\n$\n\n\n\n(0.47)\n\n\n\n \n\n\n\n\n\nAdjusted EBITDA*\n\n\n\n$\n\n\n\n63,792\n\n\n\n \n\n\n\n \n\n\n\n112\n\n\n\n%\n\n\n\n \n\n\n\n(24)\n\n\n\n%\n\n\n\n\n\nAdjusted EBITDA margin*\n\n\n\n \n\n\n\n10.0\n\n\n\n%\n\n\n\n \n\n\n\n200\n\n\n\nbps\n\n\n\n \n\n\n\n(110)\n\n\n\nbps\n\n\n\n\n\nAdjusted EPS*\n\n\n\n$\n\n\n\n1.07\n\n\n\n \n\n\n\n$\n\n\n\n0.46\n\n\n\n \n\n\n\n$\n\n\n\n(0.33)\n\n\n\n \n\n\n\n\n\nCash flows provided by (used in) operations\n\n\n\n$\n\n\n\n140,627\n\n\n\n \n\n\n\n \n\n\n\n5,067\n\n\n\n%\n\n\n\n \n\n\n\n675\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\nThird Quarter Business Highlights\n\n\nRevenue, Adjusted EBITDA, and Adjusted EPS exceeded previously updated guidance ranges\n\n\nDouble-digit year-over-year revenue growth across both segments\n\n\nAdjusted EBITDA margin of 10.0%\n\n\nRepurchased 1 million shares of common stock for $24.3 million\n\n\nScaled our locum tenens portfolio through the Mint and Lotus acquisitions, which closed in October\n\n\n“Our third quarter 2022 results once again exceeded expectations. Our advanced technology stack is driving internal efficiency and productivity gains, as well as increases in client and candidate engagement. As market conditions continue to normalize, we are confident that we can continue to grow organically through new client wins, strong execution, an...

More updates from Cross Country Healthcare, Inc.