Ensign Group Q2 2021 Earnings Report
Key Takeaways
The Ensign Group announced record operating results for the second quarter of 2021. GAAP diluted earnings per share was $0.87, representing an increase of 19.2% over the prior year quarter. Consolidated GAAP revenues were $638.5 million, an increase of 9.2% over the prior year quarter.
GAAP diluted earnings per share increased by 19.2% over the prior year quarter, reaching $0.87.
Consolidated GAAP revenues increased by 9.2% over the prior year quarter, totaling $638.5 million.
Total skilled services segment income increased to $90.0 million, up 15.0% compared to the prior year quarter.
Same store and transitioning occupancy increased sequentially over the first quarter by 1.7% and 1.5%, respectively.
Ensign Group
Ensign Group
Ensign Group Revenue by Segment
Forward Guidance
Management raised the Company’s 2021 annual earnings guidance to $3.55 and $3.67 per diluted share and affirmed its previous annual revenue guidance of $2.62 billion to $2.69 billion.
Positive Outlook
- Strong results during the first and second quarters.
- Continued positive trends in occupancies.
- Local operators and their clinically-focused teams will rise to the challenge.
- Access to the vaccine and many forms of testing.
- Federal Government has extended the State of Emergency to October 18, 2021, which keeps in place many of the regulatory and other forms of assistance helpful to patient care.
Challenges Ahead
- Potential resurgence of COVID in some markets.
- Impact of the new variant of the COVID virus.
- Normalized health insurance costs.
- Normal anticipated Medicare and Medicaid reimbursement rate increases, net of provider taxes.
- Recovery of the COVID-19 pandemic.