Ryan [for Jeff Silber]'s questions to AMN Healthcare Services Inc (AMN) leadership • Q1 2025
Question
Ryan, on for Jeff Silber, asked for an update on capital allocation priorities, particularly regarding the focus on leverage reduction versus share repurchases or M&A. He also inquired about how business trends progressed throughout the quarter, especially following recent policy announcements.
Answer
CFO and COO Brian Scott confirmed that the primary capital allocation priority is using free cash flow to pay down debt. He noted that 2025 CapEx is planned at $40-$50 million, a reduction from 2024, but still sufficient to fund key investments in technology and AI. President and CEO Cary Grace stated that demand remained strong through the quarter, with Nurse demand up mid-teens year-over-year through April, and the only notable behavioral change has been a slowdown in client decision-making.