AMN Healthcare reported jumps in revenue, gross profit and other metrics in quarter three results, boosting the company’s stock.
San Diego-based AMN’s stock was trading at $58.63 a share late morning Nov. 1, up about 8 percent from the day’s opening. AMN is the country’s largest health care staffing agency.
The company posted quarterly revenue of $526.8 million, a 7 percent year-over-year increase. Gross profit, according to AMN, was $175.1 million, 10 percent higher than the same period a year ago.
AMN reported quarterly earnings of $0.84 per share, beating a Zacks.com survey of analysts, who expected $0.77 per share before the earnings release.
The company stated travel nurse demand has risen to the highest level in almost two years, and said strategic partnerships are paying off.
"Our strategy of evolving AMN's offerings to help healthcare organizations more effectively manage their workforce is resulting in stronger partnerships and the addition of new clients across the country,” said AMN CEO Susan R. Salka in a news release. “At the same time, we are also increasing our ability to provide a wide variety of opportunities to healthcare professionals throughout their careers.”
Recently Salka told the San Diego Business Journal that AMN has no plans to relocate to Dallas, ending speculation raised by her moving there and company press releases now listing twin datelines: Dallas and San Diego. But she said the company considers itself “headquarters agnostic,” as the company has dozens of offices spread throughout the country.