CCRN - Cross Country Healthcare gains after raising guidance

• The shares of the medical staffing firm Cross Country Healthcare, Inc. ( NASDAQ: CCRN ) surged Wednesday after the company lifted its guidance for Q3 2022 ahead of its Investor Day today.
• The update came after the company announced Tuesday the acquisition of Mint Medical Physician Staffing, LP and Lotus Medical Staffing LLC in a deal expected to close in Q4 2022.
• CCRN, which provides temporary physicians and travel nurses for doctors' offices and hospitals, raised its Q3 revenue guidance to $615M - $625M, up from the previous projection of $605M - $615M and higher than the ~$610.3M in the consensus.
• In addition, CCRN expects its Q3 adj. EPS to reach $0.90 - $1.00, up from the previous $0.85 - $0.95 guidance and in line with $0.91 in the consensus.
• The company said its revenue for Q4 2022 could reach at least $550M, higher than the average Street forecast of ~$519.1M.
• Minimum revenue for 2023 is estimated at $2.2B compared to ~$2.1B in the consensus.

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