Cross Country: Fourth Quarter Financial Results Overview

Cross Country Healthcare Reports Fourth Quarter Loss

Cross Country Healthcare Inc., headquartered in Boca Raton, Florida, announced on Wednesday that it recorded a net loss of $82.9 million for the fourth quarter.

The company reported a loss of $2.56 per share for the quarter. After accounting for nonrecurring items, the adjusted loss was 6 cents per share.

These results did not meet analysts’ expectations. According to a survey by Zacks Investment Research involving five analysts, the consensus estimate was for a profit of 3 cents per share.

The healthcare staffing and workforce management firm generated $236.8 million in revenue during the quarter, which was also below projections. Analysts surveyed by Zacks had anticipated revenue of $252.3 million.

For the full year, Cross Country Healthcare posted a net loss of $94.9 million, or $2.93 per share, with total revenue reaching $1.05 billion.

Looking ahead to the first quarter ending in March, the company expects its loss to be between 6 cents and 4 cents per share.

Projected revenue for the upcoming quarter is estimated to fall between $235 million and $240 million.