AMN Healthcare Services (AMN) FY2024 results: revenue $3.0 billion, down 21.3% on the year
AMN Healthcare Services Inc. (AMN) reported revenue of $3.0 billion for fiscal 2024, the year ended 31 December 2024, down 21.3% on the year before. Net income was -$147 million, and diluted earnings per share $-3.85. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2025.
Revenue
$3.0 billion
-21.3% on the year
FY2017FY2024
Operating margin
-3.4%
8.9% a year earlier
FY2017FY2024
Net income
-$147 million
FY2017FY2024
Diluted EPS
-$3.85
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 18 new.
Revenue fell 10% year over year: Consolidated revenue was $735 million, down 10% from the prior year and up 7% from the prior quarter.
ShiftWise Flex migration finished early: Substantially all ShiftWise clients were moved to the ShiftWise Flex VMS platform, ahead of schedule.
Gross margin down 210 basis points: Consolidated gross margin was 29.8%, down 120 basis points sequentially, with lower Nurse and Allied margin and an unfavorable segment mix shift.
$222 million goodwill impairment recorded: The non-cash charge covers the Nurse and Allied Solutions and Physician and Leadership Solutions segments. Management said it was primarily triggered by the decline in equity market capitalization.
Labor disruption revenue topped guidance: Labor disruption revenue was $62 million, $22 million above guidance.
$ million except per share. Read moreFree 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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
320
372
654
-13.9%
Capital expenditure
80.9
104
75.8
-22.0%
Free cash flow
240
268
578
-10.8%
Free cash flow margin
8.0%
7.1%
11.0%
Cash from investing
-79.9
-412
-171
Cash from financing
-259
10.7
-592
Depreciation and amortisation
174
161
137
+8.0%
Share-based compensation
23.3
18.0
30.1
+29.4%
Buybacks
0.0
425
577
Diluted shares, weighted
38m
39m
45m
-2.9%
Shares outstanding at period end
38m
38m
42m
+0.7%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
707
831
1,044
-15.0%
Debt
1,056
1,305
844
-19.1%
Operating lease liabilities
35.7
37.6
9.4
-5.0%
Other liabilities
618
751
992
-17.8%
Total liabilities and equity
2,416
2,924
2,888
-17.4%
Fixed assets
186
191
149
-2.7%
Goodwill
897
1,112
935
-19.3%
Intangible assets
381
474
477
-19.6%
Cash and equivalents
10.6
32.9
64.5
-67.7%
Receivables
438
623
676
-29.8%
Other assets
502
491
587
+2.3%
Total assets
2,416
2,924
2,888
-17.4%
10-K for the year ended 31 December 2024, filed 21 February 2025: the filing.