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Mar 31, 2024
Ensign Group Q1 2024 Earnings Report
Ensign Group's Q1 2024 financial results were reported, showcasing increased earnings and revenue growth.
Key Takeaways
Ensign Group reported a strong first quarter in 2024, with significant increases in GAAP diluted earnings per share, adjusted earnings per share, GAAP net income, and adjusted net income. The company also saw growth in same-facility occupancy and skilled revenue, as well as managed care census.
GAAP diluted earnings per share increased by 13.3% year-over-year to $1.19.
Adjusted diluted earnings per share increased by 15.0% year-over-year to $1.30.
Consolidated GAAP and adjusted revenue increased by 13.9% year-over-year to $1.01 billion.
Same facilities occupancy reached 81.0%, a 2.7% increase over the prior year quarter.
Ensign Group
Ensign Group
Ensign Group Revenue by Segment
Revenue by Segment
Skilled Services Revenue
CapyFin.comStandard Bearer Revenue
CapyFin.com Forward Guidance
The company is affirming its annual 2024 earnings guidance of $5.29 to $5.47 per diluted share and annual revenue guidance of $4.13 billion to $4.17 billion.
Positive Outlook
- Annual 2024 earnings guidance of $5.29 to $5.47 per diluted share.
- Annual revenue guidance of $4.13 billion to $4.17 billion.
- Midpoint of earnings guidance represents a 13% increase over 2023 results.
- Earnings guidance is 30% higher than 2022 results.
- Company is well-positioned to meet or exceed guidance in 2024.
Challenges Ahead
- Guidance assumes normalized health insurance costs.
- Guidance assumes management's current expectations regarding reimbursement rates.
- Guidance excludes certain one-time charges.
- One-time charges include expenses related to litigation matters arising outside of the ordinary course of business.
- One-time charges include impairment of long-lived assets, acquisition-related costs, amortization costs related to intangible assets acquired and share-based compensation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income