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Sep 30
Ensign Group Q3 2025 Earnings Report
Ensign Group reported record third quarter 2025 results with strong occupancy and skilled mix improvements, driven by clinical performance and strategic acquisitions.
Key Takeaways
The Ensign Group, Inc. achieved a record third quarter in 2025, reporting GAAP diluted earnings per share of $1.42 and adjusted earnings per share of $1.64. The company saw significant increases in same-store and transitioning facility occupancy, reaching all-time highs of 83.0% and 84.4% respectively. This growth was attributed to capturing market share through clinical performance and an increasing demand for medically complex patient care, including Medicare and managed care patients. The company also raised its full-year 2025 earnings and revenue guidance, reflecting strong current quarter growth and successful acquisition strategies.
Record third quarter performance with GAAP diluted EPS of $1.42 and adjusted EPS of $1.64.
Same-facility occupancy increased to an all-time high of 83.0%, and transitioning facility occupancy reached 84.4%.
Strategic acquisitions continued with 22 new operations added during and since the quarter, bringing the total for 2025 to 45.
Full-year 2025 earnings guidance raised to $6.48 to $6.54 per diluted share and revenue guidance increased to $5.05 billion to $5.07 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 full-year 2025 earnings guidance to $6.48 to $6.54 per diluted share and revenue guidance to $5.05 billion to $5.07 billion, reflecting strong performance and anticipated acquisitions.
Positive Outlook
- Increased 2025 earnings guidance midpoint represents an 18.4% increase over 2024 results.
- Increased 2025 revenue guidance reflects current quarter growth and anticipated acquisitions.
- Continued strong liquidity with approximately $443.7 million cash on hand and $592.6 million available credit.
- Expectation of continued acquisition growth with more additions in Q4 2025 and Q1 2026.
- Commitment to maintaining a long history of paying dividends due to strong liquidity.
Challenges Ahead
- Guidance assumes normalized insurance costs, which could fluctuate.
- Guidance relies on current expectations regarding reimbursement rates, which are subject to change.
- Excludes certain charges that arise outside the normal course of business, acquisition-related costs, and share-based compensation.
- Potential for increased borrowing costs as additional indebtedness is incurred for acquisitions.
- Risks associated with government regulations, competition, and professional liability claims could impact future results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income