Our largest business, Travel Nurse and Allied, was down 16% sequentially and 48% from the prior year, driven primarily by a decline in billable hours and, to a lesser extent, the normalization in bill rates. As John noted, our travel orders have risen over the last several months and is up another 8% just since the start of the third quarter.

Jul 31, 2024 / CFO / receipt, needs a key / Bill Burns, CFO | earnings call 2024-07-31 | transcript 15d3a0af-aaa6-4105-abeb-ad8186e5fc7c | chars 14592-14936 | segment 15

With the recent rise in orders and commensurate improvement in production, we may see the number of travelers start to grow late in the third quarter or early in the fourth.

Jul 31, 2024 / CFO / receipt, needs a key / Bill Burns, CFO | earnings call 2024-07-31 | transcript 15d3a0af-aaa6-4105-abeb-ad8186e5fc7c | chars 17769-17942 | segment 18

Our largest business travel nurse and allied was down 11% sequentially and 48% from the prior year. Billable hours were down 9% sequentially on the softer demand, while bill rates were down 2%. Given the continued softness in travel demand, we expect to see a further sequential decline for revenue for the second quarter in the mid-teens.

May 1, 2024 / CFO / receipt, needs a key / Bill Burns, CFO | earnings call 2024-05-01 | transcript dba32704-dd32-45e6-ac99-6f959abe81b3 | chars 14228-14567 | segment 14

Gross margin was down 10 basis points sequentially and 20 basis points over the prior year due primarily to the tightening of the bill pay spreads for travel assignments and was partly offset by certain burdens like workers' comp and health insurance.

Feb 21, 2024 / CFO / receipt, needs a key / Bill Burns, CFO | earnings call 2024-02-21 | transcript 36f3a9b4-c57c-49fb-816b-e94e56c91d14 | chars 12097-12348 | segment 12

Looking to the first quarter, we expect travel to decline sequentially in the low double-digit range, driven primarily by continuous softness in travel demand, with bill rates declining in the low single-digits.

Feb 21, 2024 / CFO / receipt, needs a key / Bill Burns, CFO | earnings call 2024-02-21 | transcript 36f3a9b4-c57c-49fb-816b-e94e56c91d14 | chars 16919-17130 | segment 17

I'm not making any calls right now on the bill pay spread for travel.

Feb 21, 2024 / CFO / receipt, needs a key / Bill Burns, CFO | earnings call 2024-02-21 | transcript 36f3a9b4-c57c-49fb-816b-e94e56c91d14 | chars 47621-47690 | segment 48

Gross margin was down 75 basis points sequentially due to the compression of bill pay spreads in both the travel and local businesses, as well as an increase in burden such as healthcare insurance and workers' comp.

Nov 1, 2023 / CFO / receipt, needs a key / Bill Burns, CFO | earnings call 2023-11-01 | transcript b5e5b5fe-a6ac-4e65-a27d-e96781bf9e13 | chars 10974-11189 | segment 11

It's also worth calling out that though demand for travelers has softened, we see continued growth potential in other parts of the business, such as education, home care staffing, and local tenants that will likely support further investments in those areas.

May 3, 2023 / CFO / receipt, needs a key / Bill Burns, CFO | earnings call 2023-05-03 | transcript 1b454c63-ee25-4f89-a0c7-443b6fb343e5 | chars 14713-14971 | segment 14

With the softness for new travel assignments, we identified that we were a little overinvested in certain areas, and as a result, we've managed to reduce our annual salary costs by roughly 5%, primarily through performance management and attrition.

May 3, 2023 / CFO / receipt, needs a key / Bill Burns, CFO | earnings call 2023-05-03 | transcript 1b454c63-ee25-4f89-a0c7-443b6fb343e5 | chars 14324-14572 | segment 14

The sequential decline was almost entirely due to a decline in number of travelers on assignments as systems continue to seek to normalize their contingent labor usage, while the decline from the prior year was due to a 22% decline in average bill rates.

May 3, 2023 / CFO / receipt, needs a key / Bill Burns, CFO | earnings call 2023-05-03 | transcript 1b454c63-ee25-4f89-a0c7-443b6fb343e5 | chars 17053-17307 | segment 17