Such non-GAAP financial measures are provided as additional information and should not be considered substitutes for, or superior to, those calculated in accordance with U.S. GAAP. Where was that as a percentage of total orders in Q3, and was that normally like 2019 and pre-pandemic? How can we create more pre-receptors and educators to create more supply into the hospitals? In addition to highlighting our outstanding leadership team, we announced full year 2023 minimum guidance and had the opportunity to share more insight into Cross Country's innovative technology and impact it is having on our business. And then, maybe just looking at the other side of the coin, we're reading so much about hospitals, facing downgrades, swinging to operating losses. Cross Country Healthcare is a member of the Business Services sector. Is this happening to you frequently? And so, as we see in the future we're thinking the bill rates are -- will remain stable at current rate they're at. Hey Tobey, this is Bill. And as long as that's the case, we are going to continue to top grade higher and make sure we have enough capacity. That I think what Bill said is, the geographical and the regional rates have changed. And at Cross Country what we're really doing is, we're looking at how we can help hospitals really solve the challenges of the core staff. I'll go into more detail on the capital allocation in just a moment. No, I don't think there's a real seasonality to our bill rates, certainly not across the travel business. With the significant cash flows we generated, we not only reduced the overall indebtedness for the company by $76 million, but we funded the acquisitions I mentioned a moment ago, repurchased more than one million shares of our stock at an average price of $24, as well as paid the first earn-out payment on our acquisition of WSG for having achieved the targeted results. And this brings me to our outlook for the fourth quarter. No. The company has a market capitalization of $1.44 billion, a P/E ratio of 6.59, a P/E/G ratio of 0.79. And then, as I think about the locums business, I mean, any feedback so far that you've heard from your clients in terms of cross-sell opportunities as you try to get bigger and deeper in that locums space? I'd say that in the third quarter, even if I look at the labor disruption rates that we saw, they were not like remarkably different than what we're seeing in the broader marketplace. The average estimate of five analysts surveyed by Zacks . The sequential decline in adjusted EBITDA margin is primarily due to the impact of lower average bill rates in travel as well as continued investments in our technology initiatives and in our workforce. Cross Country Healthcare is currently sporting a Zacks Rank of #1 (Strong Buy). Barrington Research analyst K. Steinke now forecasts that the business services provider will post earnings per share of $5.07 for the year, up from their prior estimate of $4.79. Moving down the income statement, total selling general and administrative expense was $80 million up 52% over the prior year and down 7% sequentially. I think today, and remember intentionally we've opted to give the majority of the compensation through to the nurse. Illinois Municipal Retirement Fund Grows Stock Holdings in International Flavors & Fragrances Inc. Deutsche Bank Aktiengesellschaft Boosts Huntsman Price Target to $31.00, Illinois Municipal Retirement Fund Grows Stock Holdings in Teleflex Incorporated, Steward Partners Investment Advisory LLC Sells 190 Shares of Teleflex Incorporated, SolarEdge Technologies (NASDAQ:SEDG) PT Raised to $325.00, Prudential Financial, Inc. 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(NYSE:SKY) Shares Sold by Los Angeles Capital Management LLC, abrdn plc Trims Position in IAC Inc. (NASDAQ:IAC), Haemonetics Co. (NYSE:HAE) Shares Sold by US Bancorp DE, Illinois Municipal Retirement Fund Increases Stake in Cullen/Frost Bankers, Inc. (NYSE:CFR), Illinois Municipal Retirement Fund Has $631,000 Stock Holdings in IDACORP, Inc. (NYSE:IDA), US Bancorp DE Has $93,000 Stake in AMC Networks Inc. (NASDAQ:AMCX). Board of Directors | Cross Country Healthcare Board of Directors Kevin C. Clark, Co-Founder and Chairman Kevin co-founded Cross Country in 1986 and served as its Chairman and CEO until 1994, after which he led several healthcare staffing and innovative marketing and technology companies. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $35.20. Today, our largest source of revenue comes from our managed service programs or MSPs, representing 55% of our consolidated revenue for the third quarter. In fact, we expect the fourth quarter will be the single highest revenue quarter for this business in its history. All right, that's helpful. Just this past quarter, we started a team that does workforce optimization for our clients, so we'll go in do an assessment of kind of how their utilization is working on a unit-by-unit basis across the system, and then give them advice for how exactly to fill those gaps, if you will. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.50. We've seen it in the low 2020s kind of range for our gross margin across travel. Gateway provides candidates a superior experience with real time matching to open positions and the ability to self-select interests and schedules. Over the past three months, CRA International's consensus EPS estimate for the current year has increased 9.9%. And then, of course, there's other efficiencies. The sequential decline in travel was predominantly driven by the expected decline in bill rates which were down 12%. BOCA RATON, Fla. Cross Country Healthcare, Inc. (the "Company") (Nasdaq: CCRN) announced today that it is scheduled to participate in the 4 th Cross Country Healthcare, Inc. (the "Company") (Nasdaq: CCRN) announced today that it is scheduled to participate in the 4 th Cross Country Healthcare is a pioneering and innovative provider of market-leading workforce solutions and healthcare staffing services. On a sequential basis, the decline was primarily driven by lower incentive compensation associated with the sequential trend in the business which was partly offset by continued investments in our workforce which grew by 4% over the prior quarter. We solve complex labor-related challenges for customers while providing high-quality outcomes and exceptional patient care. This concludes our prepared remarks, and we would now like to open the lines for questions. Point72 Hong Kong Ltd purchased a new stake in Cross Country Healthcare in the 1st quarter valued at $35,000. BOCA RATON, Fla.-- ( BUSINESS WIRE )--As previously announced, Cross Country Healthcare, Inc. (the "Company") (NASDAQ: CCRN), a market-leading tech-enabled workforce solutions platform and . We don't typically see that at any point in our history. Based on our latest projections, we now believe our full year effective tax rate will be between approximately 28.5% to 29% excluding discrete items. Also assumed in this guidance is an interest expense of $3.2 million, depreciation and amortization of $3.4 million, stock-based compensation of $2.1 million and an effective tax rate of 29%. Our next question comes from Tobey Sommer with Truist Securities. 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. We will continue to be opportunistic with share repurchases, balancing investments in our technology initiatives, strategic personnel and tuck-in acquisitions that further bolster and diversify our portfolio. You said that hospitals are hurrying out there, but they obviously need nurses to service the patients or it's just a vicious spiral. 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. Of course, I mean, if you recall earlier this year we had thought it would be a sequential double-digit decline, we're now calling for high single. Interest expense of $3.5 million represented a decline of 9% over the second quarter on lower average borrowings across the quarter. Cross Country Healthcare, Inc. (CCRN) stock is trading at $33.30 as of 3:12 PM on Monday, Nov 7, a rise of $0.80, or 2.47% from the previous closing price of $32.50. Barrington Research currently has a Outperform rating and a $45.00 price objective on the stock. In fact, travel bill rates for the third quarter were down 12% sequentially and down nearly 20% since the first quarter, though still 10% higher than a year ago. Benchmark lifted their price objective on Cross Country Healthcare from $37.00 to $42.00 and gave the stock a buy rating in a research report on Thursday, September 15th. Welcome, Mint and Lotus. Act"), or otherwise subject to the liability of such section. Have you been paying attention to shares of Cross Country Healthcare (CCRN)? Cross Country Healthcare is headquartered in Boca Raton, Florida. As market So that's more in line with what we expect. I think when we looked at COVID during most of that two-year period was a national rate because everyone have the same surge in demand. The stock current value is $32.50.Recently in Our days sales outstanding were 67 days, representing a one day increase over the second quarter, primarily due to the sequential decline in revenue relative to the timing for collections. Last one for me. I think when you look at the initial driver of the big gains we've had in productivity you would tie it back to the applicant tracking system we put in for travel, but that's just one piece of the puzzle and there is obviously other levers that we're looking to pull. But -- we're always looking at our capacity model that we have that kind of shows recruiter productivity or producer productivity with how much demand there is, it's kind of a formula that we have an algorithm that shows what we need. But yes, we are still very active in the M&A market. Having a single tech stack enables us to provide the highest level of analytics, while ensuring speed to market as well as best-in-class experience for candidates, clients and our teams. And as a result, consolidated revenue for the quarter was $636 million, up 70% over the prior year, and down 16% sequentially. Good news, investors! Is there a way to kind of give us that number? Ladies and gentlemen, this does conclude today's conference. Cross Country Healthcare, Inc. (NASDAQ:NASDAQ:CCRN) Q3 2022 Earnings Conference Call November 02, 2022 04:30 PM ET Company Participants Josh Vogel - VP, IR John Martins - President and CEO. Margins are expected to decline by 16 % p.a for closing remarks if we look at, 31.81 and last traded at $ 33.02 was 75 % higher within the ecosystem seen in! To thank everyone for participating in today 's Conference gross margins are expected grow. Zu verwalten was probably a little bit higher than we had 10 programs live the Today 's call of 0.79 made the point i was just going to make, which is accessible through SEC. 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