AMN Healthcare Services (AMN) Q4 FY2021 earnings: revenue $1.4 billion, up 115.9% on the year

AMN Healthcare Services Inc. (AMN) reported revenue of $1.4 billion for Q4 FY2021, the quarter ended 31 December 2021, up 115.9% on the same quarter a year earlier. Net income was $116 million, up 1148.6% on the year, and diluted earnings per share $2.41. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.

Revenue

$1.4 billion

+115.9% on the year · +55.3% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

12.4%

4.5% a year earlier

Q1 FY2020Q4 FY2021

Net income

$116 million

+1,148.6% on the year · +57.0% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$2.41

+1,168.4% on the year · +56.5% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	1,363	878	631	+55.3%	+115.9%
Cost of revenue	929	n/a	n/a
Gross profit	434	n/a	n/a
Gross margin	31.9%	n/a	n/a
Selling, general and administrative	239	n/a	n/a
Operating income	169	106	28.7	+59.3%	+488.3%
Operating margin	12.4%	12.1%	4.5%
Interest expense	9.8	n/a	n/a
Pre-tax income	159	n/a	n/a
Income tax	42.6	n/a	n/a
Effective tax rate	26.8%	n/a	n/a
Net income	116	74.0	9.3	+57.0%	+1,148.6%
Net margin	8.5%	n/a	n/a
Diluted EPS	$2.41	$1.54	$0.19	+56.5%	+1,168.4%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Operating cash flow	78.0	n/a	n/a
Capital expenditure	14.9	n/a	n/a
Free cash flow	63.1	n/a	n/a
Free cash flow margin	4.6%	n/a	n/a
Cash from investing	-28.4	n/a	n/a
Cash from financing	-3.7	n/a	n/a
Depreciation and amortisation	27.8	26.1	24.9	+6.6%	+11.5%
Share-based compensation	7.3	n/a	n/a
Buybacks	2.7	n/a	n/a
Diluted shares, weighted	48m	48m	n/a	-0.1%
Shares outstanding at period end	47m	47m	47m	-0.0%	+0.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	1,162	1,042	820	+11.5%	+41.8%
Debt	842	842	863	+0.0%	-2.4%
Operating lease liabilities	13.4	n/a	n/a
Other liabilities	1,114	n/a	n/a
Total liabilities and equity	3,132	n/a	n/a
Fixed assets	127	n/a	n/a
Goodwill	892	n/a	n/a
Intangible assets	514	n/a	n/a
Cash and equivalents	181	137	29.2	+32.0%	+519.3%
Receivables	789	n/a	n/a
Other assets	628	n/a	n/a
Total assets	3,132	n/a	n/a

Questions

What was AMN Healthcare Services' revenue in Q4 FY2021?

AMN Healthcare Services (AMN) reported revenue of $1.4 billion for Q4 FY2021, the quarter ended 31 December 2021, up 115.9% on the same quarter a year earlier.

How much did AMN Healthcare Services earn in Q4 FY2021?

Net income for Q4 FY2021 was $116 million, up 1148.6% on the year, and diluted earnings per share $2.41.

When did AMN Healthcare Services report Q4 FY2021 results?

AMN Healthcare Services filed its 10-K for the year that ended with the quarter on 24 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,363	1,553	1,427	1,139	1,126	1,126	991	853	818	821	741	688	735	690	658	634	748	1,378	673	717
Cost of revenue	929	1,056	966	754	750	757	661	564	557	563	511	474	516	491	462	450	553	1,010	467	488
Gross profit	434	496	460	385	375	369	330	290	261	258	230	213	219	198	196	184	195	369	206	229
Gross margin	32%	32%	32%	34%	33%	33%	33%	34%	32%	31%	31%	31%	30%	29%	30%	29%	26%	27%	31%	32%
SG&A	239	258	244	215	219	206	202	163	185	175	149	150	159	148	155	139	152	218	147	149
Operating income	169	208	184	136	119	126	91.7	86.9	34.2	39.9	37.7	22.3	-203	12.5	-124	47.6	8.1	117	26.9	50.5
Operating margin	12%	13%	13%	12%	11%	11%	9%	10%	4%	5%	5%	3%	-28%	2%	-19%	8%	1%	9%	4%	7%
Interest expense	9.8	9.6	10.1	9.0	11.8	10.3	12.2	11.5	20.2	16.6	15.7	14.4	23.1	12.3	11.4	9.6	12.3	6.7	7.0	7.3
Pre-tax income	159	198	173	127	107	115	79.5	75.4	14.0	23.3	22.0	7.8	-226	0.2	-135	38.0	-4.2	110	19.9	43.2
Tax rate	27%	26%	29%	27%	24%	27%	23%	29%	11%	26%	26%	10%	n/a	697%	n/a	23%	n/a	44%	-6%	23%
Net income	116	146	124	92.4	81.8	84.1	60.9	53.2	12.5	17.3	16.2	7.0	-188	-1.1	-116	29.3	-7.7	62.2	21.2	33.4
Net margin	9%	9%	9%	8%	7%	7%	6%	6%	2%	2%	2%	1%	-26%	-0%	-18%	5%	-1%	5%	3%	5%
Diluted EPS	$2.41	$3.09	$2.77	$2.10	$1.88	$2.02	$1.55	$1.39	$0.33	$0.45	$0.42	$0.18	-$4.90	-$0.03	-$3.02	$0.76	-$0.19	$1.59	$0.53	$0.83
Operating cash flow	78.0	200	224	114	115	43.4	198	172	-41.1	81.4	99.5	66.7	72.8	92.7	78.5	22.7	75.6	562	-190	-87.5
Capital expenditure	14.9	13.6	17.2	20.4	24.6	17.5	26.4	29.9	29.9	18.1	27.3	19.3	16.2	10.0	9.8	7.9	7.9	7.2	8.5	9.8
Free cash flow	63.1	187	207	93.3	90.7	25.9	171	142	-71.0	63.2	72.2	47.4	56.6	82.7	68.7	14.8	67.6	555	-198	-97.3
Buybacks	2.7	228	174	0.0	175	175	250	0.0	0.0	0.0	0.0	0.0	0.0	n/a	n/a	0.0	n/a	n/a	n/a	8.4
Shares outstanding	47m	45m	43m	43m	42m	40m	38m	38m	38m	38m	38m	38m	38m	38m	38m	38m	38m	39m	39m	38m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 24 February 2022: the filing.