Cross Country Healthcare, Inc. (NASDAQ:CCRN) Q2 2020 Earnings Conference Call - Final Transcript

Aug 05, 2020 • 05:00 pm ET


Cross Country Healthcare, Inc. (NASDAQ:CCRN) Q2 2020 Earnings Conference Call - Final Transcript


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Good evening, ladies and gentlemen, and welcome to the Cross Country Healthcare Earnings Conference Call for the Second Quarter of 2020. This call is being simultaneously webcast live. A replay of this call will also be available until August 20, 2020, and can be accessed either on the Company's website or by dialing 866-486-4654 for domestic calls and 203-369-1642 for international calls and by entering the passcode 2020.

I will now turn the call over to Bill Burns, Cross Country Healthcare's Chief Financial Officer. Please go ahead, sir.

William J. Burns

Thank you, and good afternoon, everyone.

I'm joined today by our Co-Founder and Chief Executive Officer, Kevin Clark, as well as Buffy White, President of Workforce Solutions and Services, and Steve Saville, Executive Vice President of Operations. Today's call will include a discussion of financial results for the second quarter of 2020, and our outlook for the third quarter. A copy of our press release is available on our website at Before we begin, we need to remind everyone that certain statements made on this call may constitute forward-looking statements. As noted in our press release, forward-looking statements can vary materially from actual results and are subject to known and unknown risks, uncertainties and other factors, including those contained in the Company's 2019 annual report on Form 10-K and quarterly reports on Form 10-Q, as well as in other filings with the SEC. The company undertakes no obligation to update any of its forward-looking statements.

Also, comments made during this teleconference reference, non-GAAP financial measures, such as adjusted EBITDA or adjusted earnings per share. Such non-GAAP financial measures are provided as additional information and should not be considered substitutes for or superior to financial measures calculated in accordance with U.S. GAAP. More information related to these non-GAAP financial measures is contained in our press release.

With that, I will now turn the call over to our Co-Founder and CEO, Kevin Clark.

Kevin C. Clark

Thanks, Bill, and thank you to everyone for joining us this afternoon.

As we discussed on our last earnings call, we believe that Cross Country has been leading the way in responding to the pandemic by supporting our clients and ensuring the health and safety of our employees. Following the initial surge in demand in the early part of the second quarter, we were successful in staffing nearly 1,000 healthcare professionals on COVID-19 related assignments throughout the United States. Thanks to the tremendous efforts of our staff who worked tirelessly, we were able to deliver mission-critical healthcare professionals to the bedside of many of our fellow citizens be fallen by this terrible virus. I want to personally thank all of the health care heroes who risked their personal safety and that of their families to serve on the front line of the pandemic.

Their dedication and bravery demonstrate what is great about America and serve as an inspiration to all of us.

Since the start of the pandemic, we have seen an unprecedented level of volatility in demand with orders first