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Sep 30, 2020
Ensign Group Q3 2020 Earnings Report
Ensign Group reported record Q3 2020 operating results, increased 2020 annual earnings guidance, and announced 2021 guidance.
Key Takeaways
The Ensign Group announced record operating results for the third quarter of 2020, with GAAP diluted earnings per share of $0.77 and adjusted earnings per share of $0.78. Consolidated GAAP revenues for the quarter were $599.3 million. The company increased its 2020 annual earnings guidance to $3.04 to $3.12 per diluted share and provided 2021 annual earnings per share guidance of $3.44 to $3.56 per diluted share.
GAAP diluted earnings per share increased by 97.4% over the prior year quarter.
Adjusted diluted earnings per share increased by 95.0% over the prior year quarter.
Consolidated GAAP revenues increased by 17.0% over the prior year quarter.
GAAP net income increased by 94.4% over the prior year quarter.
Forward Guidance
The company is increasing its 2020 annual earnings guidance to $3.04 to $3.12 per diluted share and maintaining annual revenue guidance of $2.42 billion to $2.45 billion. Management also provided guidance for 2021, with annual earnings per share guidance of $3.44 to $3.56 per diluted share and annual revenue guidance of $2.62 billion to $2.69 billion.
Positive Outlook
- Enormous upside in newly acquired operations.
- Great acquisitions on the horizon.
- Operations are primed to rebuild occupancies.
- Operations are primed to gain additional market share.
- Deepened relationships with acute care providers and other healthcare partners.
Challenges Ahead
- Significant impact from the pandemic on the fourth quarter and beyond.
- Continued COVID-19-related expenses in the fourth quarter and into 2021.
- Higher labor costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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