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Sep 30, 2022
Ensign Group Q3 2022 Earnings Report
Ensign Group reported strong Q3 2022 results, marked by revenue growth and increased earnings per share.
Key Takeaways
Ensign Group reported a strong third quarter with a 15.2% increase in consolidated GAAP revenues, reaching $770.0 million. GAAP diluted earnings per share increased by 19.3% to $0.99, and adjusted diluted earnings per share increased by 14.3% to $1.04. The company also raised its annual 2022 earnings guidance to $4.10 to $4.18 per diluted share and revenue guidance to $3.01 billion to $3.03 billion.
GAAP diluted earnings per share increased by 19.3% to $0.99, and adjusted diluted earnings per share increased by 14.3% to $1.04 year-over-year.
Consolidated GAAP revenues increased by 15.2% to $770.0 million year-over-year.
Total skilled services revenue increased by 15.1% to $739.3 million year-over-year.
The company raised its annual 2022 earnings guidance to $4.10 to $4.18 per diluted share and revenue guidance to $3.01 billion to $3.03 billion.
Ensign Group
Ensign Group
Ensign Group Revenue by Segment
Revenue by Segment
Skilled Services Revenue
CapyFin.comStandard Bearer Revenue
CapyFin.com Forward Guidance
The Ensign Group raised its annual 2022 earnings guidance to $4.10 to $4.18 per diluted share, up from the previously increased guidance of $4.05 to $4.15 per diluted share, and raised its annual revenue guidance to $3.01 billion to $3.03 billion, up from the previously increased revenue guidance of $2.96 billion to $3.0 billion.
Positive Outlook
- Improvements in occupancies
- Improvements in skilled mix
- Improvements in reimbursement
- Strong quarter over quarter growth in skilled mix revenue
- Attractive acquisition environment
Challenges Ahead
- Potential operational fundamentals improvement in existing operations
- Potential operational fundamentals improvement in new acquisitions
- Industry-wide changes leading to more opportunities
- Risk of reduced prices and reimbursement rates
- COVID-19 pandemic impact on business and operations
Revenue & Expenses
Visualization of income flow from segment revenue to net income