CCRN - Cross Country Healthcare stock rises as Q4 revenue soars 197% Y/Y
Cross Country Healthcare (NASDAQ:CCRN) rose pre-market after its Q4 results beat analysts' estimates. Q4 total revenue rose 197% Y/Y to $640.68M. Nurse and Allied Staffing revenue rose 212% Y/Y to $620.4M. Average field contract personnel on a full-time equivalent (FTE) basis were 11,520 as compared with 5,798 in the prior year. Consolidated gross profit margin was 23.0%, down 220 basis points Y/Y. Q4 Net income attributable to common stockholders soared 1,582% Y/Y to $77.57M. Adjusted EBITDA grew 604% Y/Y to $80.93M. Adjusted EPS was $1.40 compared to $0.19 in Q4 2020. At Dec. 31, 2021, the company had $1.0 million in cash and cash equivalents and $174.3M principal balance on its term loan, with $9.2M of borrowings drawn under its asset-based loan facility, and $18.2M of letters of credit outstanding. Outlook Q1 2022: Revenue expected between $740M and $750M. Consensus Revenue Estimate for Q1 is $478.87M. Adjusted EPS expected in the range of $1.38 to $1.48.
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Cross Country Healthcare stock rises as Q4 revenue soars 197% Y/Y