I just wanted to ask about your plans for recruiter hiring over the next several quarters, the volume you think you have to add there. In that particular session, Stock kicked-off at the price of $37.04 while reaching the peak value of $37.69 and lowest value recorded on the day was $31.66. If I think about the travel and allied business as it's currently formulated, how do the gross margins, either in the quarter or implied in your guidance compare to what you think 2023 looks like in that business? Cross Country Healthcare, Inc. (561) 617-2871 kvargasinka@crosscountry.com Investor Relations Contact William J. Burns Executive Vice President and Chief Financial Officer Cross Country Healthcare, Inc. (800) 347-2264 wburns@crosscountry.com If we look at all the different studies out there over the last year or two, in the next 10 years, it's going to be a 1 million nurse shortage. Supply constraint continues to be the biggest challenge faced by our clients with clinicians looking to retire early or leave the bedside due to fatigue and burnout. Please disable your ad-blocker and refresh. In fact, it's one of the best areas and one of the reasons why we wanted to add this capability. If you have an ad-blocker enabled you may be blocked from proceeding. Sure. So I think that's part of what helps it be very attractive for folks to join Cross Country. The company does not intend to update guidance or any of its forward-looking statements prior to the next earnings release. Reference no: 467433293 Posted on: 11/06/2022. Though we strive for continued margin expansion every quarter, we will continue to make investments that may interrupt the trend, but we believe will ultimately drive greater shareholder value. Barrington Research also issued estimates for Cross Country Healthcare's Q4 2022. But what I would say is, there is a lot of different trends from the macroeconomic trends that could have impact on those rates. Looking to the fourth quarter, we anticipate average bill rates will decline once again though at a more modest pace likely in the high single-digits. Through this self-serviced model, we believe Gateway will also significantly improve operational productivity once fully deployed. I'll go more into details on Intellify later in the call, but first, let me provide some comments on our third quarter results. At the conclusion of the prepared remarks, I will open the lines for questions. In related news, CEO John Anthony Martins bought 4,000 shares of the firm's stock in a transaction on Wednesday, August 24th. Cross Country Healthcare, Inc. receives a strong valuation score of 83 from InvestorsObserver analysis.Our proprietary scoring system considers the overall health of the company by looking at the stock's price, earnings, and growth rate to determine if it represents a good value. At the same time, Business Services stocks have lost an average of 30.9%. I would just add to that, Brian. In other Cross Country Healthcare news, CFO William J. Burns sold 14,705 shares of the firm's stock in a transaction on Monday, September 19th. Generally, we filled all of our clients' needs through a combination of direct fill and through a partner network of subcontractors. Daten ber Ihr Gert und Ihre Internetverbindung, wie Ihre IP-Adresse, Browsing- und Suchaktivitten bei der Nutzung von Yahoo Websites und -Apps. Captrust Financial Advisors boosted its holdings in Cross Country Healthcare by 26.4% during the 1st quarter. And as long as that's the case, we are going to continue to top grade higher and make sure we have enough capacity. Where was that as a percentage of total orders in Q3, and was that normally like 2019 and pre-pandemic? If we look at or WSG or Workforce Solutions Group that works in the pace centers and home health, that's a business that is also going to be north of $100 million and that's a higher margin business as we continue to invest in those other peripheral businesses of ours that grow -- as we're getting them to grow at a faster rate, that will help drive gross margins. View the latest Cross Country Healthcare Inc. (CCRN) stock price, news, historical charts, analyst ratings and financial information from WSJ. Their traditional staffing includes temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses and allied staffing, and locum tenens physicians. Cross Country Healthcare is headquartered in Boca Raton, Florida. Analysts Rate DraftKings a Moderate Buy As Growth Slows, Goodyear Tire & Rubber Stock is Becoming a Mighty Good Bargain, GlobalFoundries Pops Nearly 9% On Better-Than-Expected Q3 Results, Two Green Energy Plays Poised For Gains In 2023, MarketBeat.com's FREE daily email newsletter, SolarEdge Technologies PT Raised to $325.00, Prudential Financial, Inc. Shares Sold by Los Angeles Capital Management LLC. BOCA RATON, Fla., November 02, 2022 -- ( BUSINESS WIRE )--Cross Country Healthcare, Inc. (the "Company") (Nasdaq: CCRN) today announced financial results for its third quarter ended September. Boca Raton FL 33487 Local:(561) 998-2232 Toll Free:(800) 347-2264 Business Hours I was just going to say the same thing, John. Thank you. incorporation language of such filing, except as shall be expressly set forth by Yes. There is a lot of room and runway for us to have more productivity as we start really becoming a more self-service model for clinicians, our producers will be able to have larger capacity gains which will flow right through the bottom line to our EBITDA lowering SG&A and increasing higher EBITDA. In other Cross Country Healthcare news, General Counsel Susan E. Ball sold 44,357 shares of the stock in a transaction dated Monday, September 19th. And then just to dovetail into Marc's comment, when you look at our comp structure, I think we're among the most competitive in the marketplace, we give our folks the ability to earn more as they grow their books of business. The consensus estimate for Cross Country Healthcare's current full-year earnings is $5.02 per share. More information related to these non-GAAP financial measures is contained in our press release. I'll start and then have Bill add some more color. Cross Country Healthcare, Inc. (CCH) is a leading tech-enabled workforce solutions and advisory firm with 36 years of industry experience and insight. Earnings per share (EPS) missed analyst estimates by 1.5%. Apply today and experience why MSN is a leading per diem staffing agency of over 30 years. Third quarter spend under management from our MSPs was nearly $2 billion in annualized contingent labor spend, which is 4 times the size of the programs we managed at the end of 2019. That said, we are well positioned to continue driving organic growth, thanks to the investments we have made in revenue producers, the development of market leading technologies and by counting and continuing to win new clients. Cross Country CEO & Board Chairman Ring Nasdaq Closing Bell! And another dynamic we sometimes see or we saw many years ago at this point is nurses get nervous about whether their permanent job is still available to them and begin to think that maybe they should go back and I wondered if the economic backdrop is unsettled enough or not really that, that may be part of the equation and what you're seeing on nurses that are out on travel, but wondering whether they should go back. In closing, I am very encouraged by our clients, our business, and our prospects as we approach 2023. And this brings me to our outlook for the fourth quarter. Hey good morning guys. BOCA RATON, Fla. -- (BUSINESS WIRE)--Oct. 10, 2022-- Cross Country Healthcare, Inc. (Nasdaq: CCRN) will hold its quarterly conference call to discuss its third quarter 2022 financial results on Wednesday, November 2, 2022 at 5:00 p.m . We solve complex labor-related. Gross margins are expected to be between 22.3% and 22.8% largely consistent with the current quarter. And so, ultimately, what we want to have for our customers is, manage your core staff better, supplement that with regional or local flow pool resources and then bring on your travelers to augment that. John made the point I was going to make, which is, it was minimum guidance as we called out. Is this happening to you frequently? But yes, when we're looking at in terms of our guidance or what our targets were for 2023 that was really the minimum target we are looking at about $2.2 billion and that $200 million of EBITDA and we at this point again not having that perfect crystal ball in front of us. Yes, sure. To read this article on Zacks.com click here. Increasingly, our MSP clients will be able to benefit from the adoption of our proprietary vendor management system, Intellify, which enhances their visibility into their program stent. For the fourth quarter, we expect revenue to be between 590 and $600 million, well above the $550 million exit run rate we shared at our Investor Day. Our first question comes from Kevin Fischbeck with Bank of America. As a travel health professional with Cross Country, here's what you can expect when it comes to your earning potential: A median salary of $77,600 per year for nurses, $61,830 for respiratory therapists and $61,980 for CT techs, according to the Bureau of Labor Statistics. Lastly, our education business reported a 38% increase over the prior year and was down 11% sequentially due entirely to the impact from summer vacation. Our next question comes from Brian Tanquilut with Jefferies. Cross Country Medical Staffing Network offers competitive pay, benefits including medical/dental/vision insurance, 401(k), tuition reimbursement and more. The quarter came in better, the guidance for Q4 is coming in better, but you haven't really changed the outlook for next year. Pursuant to General Instruction B.2 of No, I don't think there's a real seasonality to our bill rates, certainly not across the travel business. those contained in the company's 2021 annual report on Form 10-K and quarterly reports on Form 10-Q, as well as in other filings with the SEC. Cross Country Healthcare, Inc. (the "Company") (Nasdaq: CCRN) announced today that it is scheduled to participate in the 4 th Annual Truist Securities Industrials and Services Summit taking place at the JW Marriott Essex House in New York on December 6, 2022. As of September, we had 10 programs live on the platform with five more scheduled for deployment in the fourth quarter. Thanks. Hey Kevin, this is John. You mentioned that the pediatric respiratory cases aren't coming in seasonally the way that you -- I mean you hear a lot about it, I guess in the news about the triple -- calling it now, is that because -- are the hospitals just waiting to actually kind of see it fully come through before they ask for that staff? Is that entered into the equation at all? Monday - Friday: 9:00 AM - 10:00 PM EST Helpful Links. And so, it's beneficial to us to do that about -- I would say about 80% of that is our RPO business, which is more consistent in a recurring revenue. Kevin, at this point, we really don't have challenges finding staff because we're virtual now, so it's a much bigger pool to select from. And finally, on the income statement, income tax expense was $14 million representing an effective tax rate of 28.5%. Yes, I would just say -- as we said, we're going to keep increasing our diversification. We look forward to updating you on our progress on the next call in February. The company traded as low as $31.81 and last traded at $33.02. And as we build -- and we're building a pretty long big pipeline right now in MSPs and our vendor-neutral business, Intellify, that's going to help us increase our gross margins and our EBITDA margins, because those vendor-neutral businesses are very highly profitable in the GM, gross margin side, as well as the EBITDA side. Looking ahead, revenue is expected to decline by 16% p.a. You may now disconnect. Rice with Credit Suisse. But yes, we did have a nice run on the stock. Regarding to fourth quarter revenue of between 590 and $600 million, representing a sequential decline of 6% to 7% driven predominantly by the anticipated decline in travel bill rates, partly offset by growth in our education and the impact of our recent acquisitions from Mint and Lotus. And I think really what's going to propel us to drive gross margins even faster is our movement and entry into the vendor-neutral space with Intellify. 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