Ensign Group Q3 2022 Earnings Report
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
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