NASDAQ$CCRN
Cross Country Healthcare Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Second quarter financial results announced, exceeding expectations due to ability to attract and place professionals.
Cross Country Healthcare reported a strong second quarter, with revenue up 53% year-over-year and net income of $11.5 million, a significant improvement from the prior year's net loss. The company benefited from near-record demand and a tight labor market, driving higher compensation costs.
- Consolidated revenue increased by 53% year-over-year to $331.8 million.
- Net income attributable to common shareholders was $11.5 million compared to a net loss of $14.2 million in the prior year.
- Diluted EPS was $0.31 per share, compared to a loss of $0.39 per share in the prior year.
- Adjusted EBITDA was $24.3 million, or 7.3% of revenue, compared to $11.6 million, or 5.4% of revenue in the prior year.
Headline financials
Revenue & EPS history
Cross Country Healthcare · Revenue · Quarterly
$332M
Revenue by segment
Cross Country Healthcare · $332M total across 2 segments · Q2 2021
- Nurse and Allied Staffing$316M+59.6%95.3%
- Physician Staffing$15.6M-7.3%4.7%
Forward guidance
For Q3 2021, Cross Country Healthcare expects revenue to be between $310 million and $320 million and Adjusted EPS to be between $0.30 and $0.35.
Tailwinds
- Revenue is expected to be between $310 million and $320 million, representing a 60% - 65% year-over-year increase.
- Gross Profit Margin is expected to be between 21.8% and 22.3%.
- Adjusted EBITDA is projected to be between $18.0 million and $20.0 million, a 109% - 133% increase year-over-year.
- Adjusted EPS is anticipated to be between $0.30 and $0.35.
- Bill and pay rates are expected to continue to normalize through the third quarter with average bill rates remaining higher than the prior year though declining sequentially for certain specialties.
Headwinds
- Revenue is expected to decline sequentially by (7)% - (4)%.
- Gross Profit Margin is expected to decrease year-over-year by (290) bps - (240) bps.
- Adjusted EBITDA is expected to decline sequentially by (26)% - (18)%.
- Adjusted EPS is expected to decline sequentially by $(0.17) - $(0.12).
- The above ranges do not include the potential impact of any future divestitures, mergers, acquisitions, or other business combinations, changes in debt structure, or future share repurchases.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
-2.7%
Avg return
Earnings day
-1.5%
Avg return
5 days after
+0.5%
Avg return
30 days after
44%
28 / 64 earnings
Positive
+24.6%
Q3 2021
Best reaction
-33.6%
Q2 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | +0.4% | +0.8% | |
| Q4 2025 | +8.2% | +7.9% | +0.5% | |
| Q3 2025 | -14.1% | -7.2% | -32.9% | |
| Q1 2025 | +0.4% | +0.8% | -6.7% | |
| Q4 2024 | +0.3% | -6.0% | -13.9% | |
| Q3 2024 | +7.2% | -6.1% | +57.9% | |
| Q2 2024 | -2.7% | -8.2% | -17.3% | |
| Q1 2024 | -4.9% | -9.0% | -14.1% | |
| Q4 2023 | -2.7% | -0.3% | +5.7% | |
| Q3 2023 | -14.0% | -19.0% | -10.7% | |
| Q2 2023 | -14.7% | -14.0% | -3.8% | |
| Q1 2023 | +5.1% | +9.9% | +26.1% | |
| Q4 2022 | -5.6% | +3.2% | -13.2% | |
| Q3 2022 | -2.5% | -11.3% | -2.8% | |
| Q2 2022 | -13.7% | -14.1% | -7.6% | |
| Q1 2022 | -2.6% | -7.1% | +0.9% | |
| Q4 2021 | -1.5% | +6.6% | +2.4% | |
| Q3 2021 | +24.6% | +18.0% | +21.1% | |
| Q2 2021 | +23.0% | +14.6% | +29.7% | |
| Q1 2021 | +16.5% | +24.0% | +17.4% | |
| Q4 2020 | +18.9% | +24.6% | +33.8% | |
| Q3 2020 | -5.0% | -3.0% | +9.3% | |
| Q2 2020 | +9.6% | +4.7% | +1.6% | |
| Q1 2020 | -4.8% | -2.0% | +7.6% | |
| Q4 2019 | +0.4% | -12.2% | -27.7% | |
| Q3 2019 | +14.2% | +16.9% | +10.9% | |
| Q2 2019 | -0.8% | -5.5% | +5.6% | |
| Q1 2019 | +4.7% | +18.7% | +0.9% | |
| Q4 2018 | -3.6% | -11.6% | -22.5% | |
| Q3 2018 | +7.8% | +3.4% | +2.7% | |
| Q2 2018 | -30.9% | -26.0% | -14.7% | |
| Q1 2018 | -16.7% | -11.0% | -4.3% | |
| Q4 2017 | -18.8% | -13.6% | -15.8% | |
| Q3 2017 | -9.6% | -13.8% | -2.6% | |
| Q2 2017 | +3.1% | +1.2% | +2.5% | |
| Q1 2017 | -13.0% | -15.1% | -16.7% | |
| Q4 2016 | +3.4% | -5.3% | -7.2% | |
| Q3 2016 | +22.9% | +24.3% | +31.7% | |
| Q2 2016 | -11.5% | -17.0% | -14.2% | |
| Q1 2016 | +10.0% | — | — | |
| Q4 2015 | -21.9% | — | — | |
| Q3 2015 | +9.5% | — | — | |
| Q2 2015 | +10.1% | — | — | |
| Q1 2015 | -4.6% | — | — | |
| Q4 2014 | -9.6% | — | — | |
| Q3 2014 | -0.5% | — | — | |
| Q2 2014 | +1.8% | — | — | |
| Q1 2014 | -14.3% | — | — | |
| Q4 2013 | -22.3% | — | — | |
| Q3 2013 | +3.1% | — | — | |
| Q2 2013 | -3.3% | — | — | |
| Q1 2013 | +0.4% | — | — | |
| Q4 2009 | -5.5% | — | — | |
| Q3 2012 | -0.9% | — | — | |
| Q2 2012 | -5.5% | — | — | |
| Q1 2011 | -3.1% | — | — | |
| Q1 2012 | +11.8% | — | — | |
| Q4 2011 | +0.8% | — | — | |
| Q3 2010 | +2.5% | — | — | |
| Q3 2011 | +2.5% | — | — | |
| Q2 2011 | -33.6% | — | — | |
| Q4 2010 | -33.6% | — | — | |
| Q2 2010 | -33.6% | — | — | |
| Q1 2010 | -7.9% | — | — |
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