Cross Country Healthcare Q1 results, outlook

 Cross Country Healthcare, Inc. (the "Company") (Nasdaq: CCRN) today announced financial results for its first quarter ended March 31, 2021.

SELECTED FINANCIAL INFORMATION:

					Variance					Variance
					Q1 2021 vs					Q1 2021 vs
Dollars are in thousands, except per share amounts	Q1 2021				Q1 2020					Q4 2020
Revenue	$	329,241			57				%	53				%
Gross profit margin*	21.7			%	(190		)		bps	(350		)		bps
Net income attributable to common shareholders	$	19,448			1,031				%	322				%
Diluted EPS	$	0.53			$	0.59				$	0.40
Adjusted EBITDA*	$	26,733			480				%	132				%
Adjusted EBITDA margin*	8.1			%	590				bps	280				bps
Adjusted EPS*	$	0.58			$	0.59				$	0.39
Cash flows used in operations	$	(24,927	)		(245		)		%	(1,392		)		%

* Refer to accompanying tables and discussion of non-GAAP (Generally Accepted Accounting Principles) financial measures below.

"We entered the year on a very positive trajectory, with solid execution, higher productivity, and exceptional performance," said Kevin Clark, Co-founder and Chief Executive Officer for Cross Country Healthcare. He continued, "This was the single largest revenue quarter in our Company's history and was fueled by our passionate, tireless efforts to deliver the critical professionals needed across the country."

Outlook for Second Quarter 2021

The guidance below applies to management’s expectations for the second quarter of 2021.

	Q2 2021 Range		Year-over-Year		Sequential
			Change		Change
Revenue	$300 million - $310 million		38% - 43%		(9)% - (6)%
Gross Profit Margin*	22.0% - 22.5%		(140) bps - (90) bps		30 bps - 80 bps
Adjusted EBITDA*	$19.0 million - $21.0 million		64% - 81%		(29)% - (21)%
Adjusted EPS*	$0.37 - $0.42		$0.21 - $0.26		$(0.21) - $(0.16)

The Company will hold its quarterly conference call on Wednesday, May 5, 2021, at 5:00 P.M. Eastern Time to discuss its first quarter 2021 financial results. This call will be webcast live and can be accessed at the Company’s website at ir.crosscountryhealthcare.com or by dialing 888-566-1099 from anywhere in the U.S. or by dialing 773-799-3716 from non-U.S. locations - Passcode: Cross Country. A replay of the webcast will be available from May 5th through May 19th at the Company’s website and a replay of the conference call will be available by telephone by calling 800-510-0118 from anywhere in the U.S. or 203-369-3808 from non-U.S. locations - Passcode: 2021.

https://finance.yahoo.com/news/cross-country-healthcare-announces-first-201500381.html