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Dec 31, 2021
Ensign Group Q4 2021 Earnings Report
Ensign Group reported record adjusted EPS and revenue growth, driven by strong occupancy and skilled revenue improvements despite pandemic-related challenges.
Key Takeaways
The Ensign Group reported Q4 2021 results with GAAP diluted EPS of $0.86 and a record adjusted EPS of $0.97. Consolidated GAAP revenues increased. The company issued 2022 earnings guidance of $4.01 to $4.13 per diluted share and revenue guidance of $2.93 billion to $2.98 billion.
GAAP diluted earnings per share for the quarter was $0.86, representing an increase of 4.9% over the prior year quarter.
Adjusted diluted earnings per share for the quarter was $0.97, an increase of 21.3% over the prior year quarter.
Total skilled services segment income increased to $100.2 million, or 19.1% over the prior year quarter.
Same store and transitioning occupancy increased by 3.0% and 6.8%, respectively, from prior year quarter.
Ensign Group
Ensign Group
Ensign Group Revenue by Segment
Revenue by Segment
Skilled Services Revenue
CapyFin.com Forward Guidance
The company issued its annual 2022 earnings guidance of $4.01 to $4.13 per diluted share and annual revenue guidance of $2.93 billion to $2.98 billion.
Positive Outlook
- New midpoint of 2022 earnings guidance represents an increase of 12% over 2021 results.
- The new midpoint of 2022 earnings guidance is 30% higher than 2020 results.
- Company is confident that teams will continue to manage and innovate through all the lingering challenges on the labor front.
- The company is well-positioned to continue positive operational momentum.
- Anticipates strength of front-line professionals will allow them to become better clinically and operationally than ever before.
Challenges Ahead
- Continued challenges related to the pandemic.
- Accompanying disruption in the labor markets.
- Delta surge in the early part of the quarter.
- Omicron late in the quarter.
- Lingering challenges on the labor front.