Cross Ctry Hlthcr Down 6.60% To $24.76 After Earnings Beat

Thursday, February 23, 2023 - Cross Ctry Hlthcr (CCRN) reported upside earnings and revenues today.

Cross Ctry Hlthcr's earnings came in at an EPS of $1.09 per share, 22.00% higher than estimates for an EPS of $0.89 per share. The firm's earnings are down 22% since reporting $1.4 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $628.2 million. That represents a 1.94% decrease in revenues from the year-ago report and is 5.66% higher than consensus estimates set at $594.6 million.

The stock is down 6.60% to $24.76 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 60. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Cross Country Healthcare Inc is a provider of staffing, recruiting, and workforce solutions to healthcare clients such as private and public hospitals, government facilities, outpatient clinics, ambulatory care facilities, and physician practice groups, among others. The company operates in three business segments: nurse and allied staffing, physician staffing, and search. The nurse and allied staffing segment, which generates a vast majority of revenue, offers temporary and permanent placements of travel and local nurses and allied professionals, and other outsourcing services. The other services offered by the company include physician staffing, search for healthcare executives, and recruitment process outsourcing. The company earns majority of its revenue from the United States.