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Dec 31, 2022
Ensign Group Q4 2022 Earnings Report
Ensign Group reported record operating results driven by occupancy and skilled revenue growth.
Key Takeaways
Ensign Group reported record fourth-quarter results with GAAP diluted earnings per share of $1.06 and adjusted earnings per share of $1.10. Consolidated GAAP revenues for the year were $3.025 billion. The company issued 2023 earnings guidance of $4.60 to $4.74 per diluted share and revenue guidance of $3.55 billion to $3.62 billion.
GAAP diluted earnings per share for the quarter was $1.06, an increase of 23.3% over the prior year quarter.
Adjusted diluted earnings per share was $1.10, an increase of 13.4% over the prior year quarter.
Total skilled services revenue was $777.6 million for the quarter, an increase of 16.5% over the prior year quarter.
Standard Bearer revenue was $19.4 million for the quarter, an increase of 26.0% from prior year quarter.
Revenue by Segment
Forward Guidance
The company issued annual 2023 earnings guidance of $4.60 to $4.74 per diluted share and annual revenue guidance of $3.55 billion to $3.62 billion. The midpoint of this 2023 earnings guidance represents an increase of 12.8% over our 2022 results and is 28.3% higher than our 2021 results.
Positive Outlook
- Earnings guidance of $4.60 to $4.74 per diluted share for 2023.
- Revenue guidance of $3.55 billion to $3.62 billion for 2023.
- Midpoint of earnings guidance represents an increase of 12.8% over 2022 results.
- Midpoint of earnings guidance is 28.3% higher than 2021 results.
- Liquidity remains strong with approximately $316.3 million of cash on hand and $593.3 million of available capacity under its line-of-credit.
Challenges Ahead
- Guidance assumes normalized health insurance costs.
- Guidance assumes current expectations regarding reimbursement rates and recovery of the COVID-19 pandemic.
- Guidance excludes one-time charges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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