AMN Healthcare Services, Inc. (NYSE:AMN) Q3 2017 Earnings Conference Call - Final Transcript

Nov 02, 2017 • 05:00 pm ET

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AMN Healthcare Services, Inc. (NYSE:AMN) Q3 2017 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by and welcome to the AMN Healthcare Third Quarter 2017 Earnings Call. At this time, all lines are in a listen-only mode. Later there will an opportunity for your questions and instructions will be given at time. [Operator Instructions] As a reminder, the conference is being recorded. I'll now turn the conference over to, Randy Reece, Director, Investor Relations, Please go ahead, sir.

Executive
Randy Reece

Good afternoon, everyone. Welcome to AMN Healthcare's third quarter 2017 earnings call. A replay of this webcast will be available until November 16th at amnhealthcare.investorroom.com, following the conclusion of this call. Details for the audio replay of the conference call are in our earnings release issued this afternoon. Various remarks we make during this call about future expectations, projections, plans, events or circumstances, constitute forward-looking statements. These statements reflect the company's current beliefs, based upon information currently available to it.

Our actual results may differ materially from those indicated by these forward-looking statements, as a result of various factors, including those identified in our most recent Form 10-K and subsequent filings with the SEC. The company does not intend to update the guidance or any forward-looking statements provided today, prior to its next earnings release. This call contains certain non-GAAP financial information. Information regarding and reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in our earnings release and on the financial reports page of the company's website which can be accessed at amnhealthcare.investorroom.com. On the call today are Susan Salka, President and Chief Executive Officer; Brian Scott, Chief Financial Officer; Ralph Henderson, President of Professional Services and Staffing; and Dan White, President of Strategic Workforce Solutions. I will now turn the call over to Susan.

Executive
Susan Salka

Thank you so much, Randy. We are thrilled to have you join the AMN family and to help us continue to evolve our strategy down and our dialogue with investors and the analyst community. As we nearly end of what has certainly than an eventful year AMN healthcare recorded a solid performance in the third quarter and most importantly delivered significant value to our clients. Our revenue of $494 million with 5% higher year-over-year led by strength in Travel Nurse, Allied, and our MSP and VMS offerings. The quarter also included a return to year-over-year revenue growth for our Locum Tenens segment. Our adjusted EBITDA was $62 million and represented a margin of 12.5%.

The overall environment for our business remains positive and the macro trends enabled growth across all of our segments. We continue to evolve our business model to improve the company's sustainable growth rate and our profit margin. Even while improving our operating leverage, we are investing back into the business to future growth. These factors are keeping us on track to achieve our goal of a 14% adjusted EBITDA margin by 2020. Looking forward our fourth quarter guidance reflects typical seasonal performance across all three segments. This should enable AMN to deliver year-over-year revenue growth that