AMN Healthcare Services, Inc. (NYSE:AMN) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET

Company Participants

Randy Reece - Senior Director, IR

Cary Grace - Chief Executive Officer

Jeff Knudson - Chief Financial Officer

Conference Call Participants

Trevor Romeo - William Blair

Kevin Fischbeck - Bank of America

Jasper Bibb - Truist Securities

Brian Tanquilut - Jefferies

Operator

Good day and thank you for standing by. Welcome to the AMN Healthcare Third Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Randy Reece, Senior Director of Investor Relations and Strategy. Please go ahead.

Randy Reece

Good afternoon, everyone. Welcome to AMN Healthcare's third quarter 2023 earnings call. A replay of this webcast will be available at ir.amnhealthcare.com at the conclusion of this call. Various remarks we make during this call about future expectations, projections, trends, 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 because of various factors and cautionary statements, including those identified in our most recently filed Forms 10-K and 10-Q, our earnings release and subsequent filings with the SEC. The company does not intend to update 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 our financial reports page at ir.amnhealthcare.com.

On the call today are Cary Grace, President and Chief Executive Officer; and Jeff Knudson, Chief Financial Officer.

I will now turn the call over to Cary.

Cary Grace

Thank you, Randy and welcome everyone. As the healthcare sector tries to find post pandemic normal for demand and costs, managing labor costs while building a sustainable workforce has been a major theme in healthcare for 2023.

Amidst extraordinary staffing challenges during the pandemic, healthcare employers struggled to keep up with hiring needs and used contingent labor to bridge the gap. Healthcare organizations have made significant progress in hiring permanent workers and this has been felt across the staffing industry in the form of lower demand for travelers. We anticipated a market reset was coming, but it has been deeper and more sustained than we and the rest of the industry expected.