Benzinga | Jan 10, 2022 08:36AM EST

AMN Healthcare Services Sees Q4 Sales $1.35B-$1.36B vs $1.14B Estimate

AMN Healthcare Services (NYSE:AMN) is providing preliminary unaudited consolidated revenue results for the fourth quarter of 2021 to facilitate the Company's participation in the 40th Annual J.P. Morgan Healthcare Conference on January 11, 2022. Based on preliminary financial information, the Company expects consolidated revenues for the quarter to be between $1.35 billion and $1.36 billion.

These preliminary results exceeded prior guidance, issued on November 4, 2021, due to strong demand across all revenue segments led by the Nurse and Allied segment and approximately $70 million more labor disruption revenue than included in the guidance. This update is based on management's initial assessment of operations for the quarter ended December 31, 2021. The Company expects to issue full financial results for the fourth quarter and fiscal year 2021 in February.

The Company also is raising its fourth quarter 2021 operating margin and adjusted EBITDA margin guidance provided in the November 4, 2021 press release. The Company expects that its fourth quarter 2021 operating margin and adjusted EBITDA margin will be slightly above the high end of its previously provided guidance ranges of 11.8-12.3% and 15.3-15.8%, respectively.

"Healthcare labor shortages are pervasive and expected to persist for some time, highlighting the need for short- and long-term workforce solutions and leading to wage inflation. These influences were even stronger than expected in the fourth quarter of 2021 and are continuing into 2022," said Susan R. Salka, AMN Chief Executive Officer. "Demand for all of our talent solutions remains near record levels, and we expect first quarter 2022 revenue to be more than $1.1 billion."

During the J.P. Morgan Healthcare Conference, Ms. Salka will give a presentation on January 11, 2022 at 5:15 p.m. PST followed by a question-and-answer session. During the presentation, Ms. Salka will discuss the Company's recent operational and financial developments and trends. Statements in this presentation and management's answers to questions may contain or constitute material information that the Company has not previously disclosed publicly. A live webcast and audio archive of the presentation and question and answer session will be available via the Investor Relations section of the Company's Web site at https://ir.amnhealthcare.com or by clicking on the link below:

https://ir.amnhealthcare.com/events-and-presentations/event-details/2022/Presentation-at-40th-Annual-JP-Morgan-Healthcare-Conference/default.aspx

Participants should allow approximately five to ten minutes prior to the presentation's start time to visit the site and download any streaming media software needed to listen to the Internet webcast. A replay of the webcast will be available on the Company's Web site for 90 days.