AMN Healthcare First Quarter Revenue Doubles to $1.378B with $2.10 Adjusted EPS
AMN Healthcare reported first quarter revenue of $1.378 billion, doubling last year’s sales, with adjusted EPS of $2.10, up 366% year over year, and adjusted EBITDA of $166.1 million. Cash flow from operations reached $562 million, cash balance was $561 million, and debt totaled $750 million with leverage at 1.6x.
1. First Quarter Financial Highlights
AMN Healthcare delivered consolidated revenue of $1.378 billion in Q1 2026, a 100% increase from the prior year, with GAAP diluted EPS of $1.59 and adjusted EPS of $2.10. Adjusted EBITDA rose 159% to $166.1 million, and gross margin was 26.8%.
2. Segment Performance
Revenue in the Nurse and Allied Solutions segment reached $1.127 billion, up 173% year over year, driven by a 12% increase in travel nursing and 3% growth in allied staffing. Physician and Leadership Solutions generated $164 million (down 6% year over year), while Technology and Workforce Solutions amounted to $87 million (down 15%).
3. Cash Flow, Balance Sheet and Outlook
Operating cash flow totaled $562 million, and the quarter-end cash balance was $561 million against $750 million of debt, yielding a leverage ratio of 1.6x. The company forecasts Q2 revenue of $620–$635 million, gross margin of 28.0%–28.5%, and adjusted EBITDA margin of 6.7%–7.2%.