Cross Country Healthcare, Inc. (NASDAQ:CCRN) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Cross Country Healthcare, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.05 in the quarter versus EPS of $-0.08 in the year-earlier quarter.
Revenue: Decreased 12.28% to $110.77 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cross Country Healthcare, Inc. reported adjusted EPS loss of $0.05 per share. By that measure, the company missed the mean analyst estimate of $-0.01. It beat the average revenue estimate of $110.75 million.
Quoting Management: Cross Country Healthcare President and CEO William J. Grubbs commented, “Second quarter performance was in line with our expectations. We generated modest revenue growth and solid operating cash flow and ended the quarter with a very strong liquidity position. Our team demonstrated sound financial discipline with higher bill rates and higher bill/pay spreads in our staffing businesses. As well, we initiated a restructuring program to reduce operating costs. Demand for services within our industry continues to be stable and we remain committed to our strategy of driving revenue growth from our targeted customer segments and increasing Adjusted EBITDA margins.”
Key Stats (on next page)…