Fourth-quarter revenue fell 17.4% at AMN Healthcare Services Inc. (NYSE: AMN) to $1.12 billion. Fourth-quarter revenue was still above forecast, the company noted. And the year-over-year decline was concentrated in its “nurse and allied solutions” segment where revenue fell 23.8%. The Dallas-based healthcare staffing provider noted the fourth quarter of 2021 was a tough comparison as it saw some of the highest labor shortages of the pandemic.
“This was a year of extraordinary demand, and our team responded as never before to place more than 250,000 greatly needed healthcare professionals in temporary and permanent roles,” AMN President and CEO Cary Grace said. “Through the year, we also dealt with rapid change, flexing from unprecedented demand to helping clients optimize their workforce to manage the cost of delivering high-quality outcomes.”
The company’s “physician ad leadership solutions” segment saw revenue rise with locum tenens revenue up 4% year over year to $103 million and interim leadership revenue up 4% year over year as well. However, search revenue fell by 10% year over year.
Meanwhile, AMN’s “technology and workforce solutions” revenue rose 14% year over year with language interpretation services leading growth with a 23% year-over-year increase in revenue to $58 million. VMS revenue rose 5% year over year to $55 million, and the company reported a normalizing trend in staffing demand and bill rates.
AMN forecast first-quarter revenue will be $1.10 billion to $1.13 billion, a decrease of between 27% and 29% year over year.
Here are AMN’s forecast year-over-year changes by segment for the first quarter:
- Nurse and allied solutions revenue, a decrease of between 32% and 34%
- Physician and leadership solutions revenue, a decrease of between 10% and 12%
- Technology and workforce solutions revenue, a decrease of between 10% and 12%
Share price and market cap
Shares in AMN were down 4.30% to $93.30 as of 1:08 p.m. Eastern time; they were 12.74% above their 52-week low, according to FT.com. The company had a market cap of $4.22 billion.