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Dec 31, 2023
Ensign Group Q4 2023 Earnings Report
Ensign Group reported Q4 2023 results with revenue increase and earnings per share.
Key Takeaways
Ensign Group reported a strong Q4 2023, with consolidated GAAP revenue of $980.4 million, a 21.1% increase over the prior year quarter. GAAP diluted earnings per share was $0.38, and adjusted diluted earnings per share was $1.28, a 16.4% increase over the prior year quarter. The company's same store occupancy was 79.9%, a 2.4% increase over the prior year quarter.
Consolidated GAAP revenue increased by 21.1% year-over-year to $980.4 million.
GAAP diluted earnings per share was $0.38, which includes the impact of certain litigation matters arising outside the ordinary course of business.
Adjusted diluted earnings per share increased by 16.4% year-over-year to $1.28.
Same store occupancy increased by 2.4% over the prior year quarter, reaching 79.9%.
Revenue by Segment
Forward Guidance
The Ensign Group is issuing its annual 2024 earnings guidance of $5.29 to $5.47 per diluted share and annual revenue guidance of $4.13 billion to $4.17 billion.
Positive Outlook
- 2024 earnings guidance represents an increase of 13% over 2023 results.
- 2024 earnings guidance is 30% higher than 2022 results.
- Company is well-positioned to have another outstanding year in 2024.
- Pipeline for new deals remains strong.
- Company has over a billion dollars in dry powder for future investments.
Challenges Ahead
- Guidance excludes one-time charges, including certain expenses related to litigation matters arising outside of the ordinary course of business.
- Guidance excludes acquisition-related costs.
- Guidance excludes amortization costs related to intangible assets acquired and share-based compensation.
- The company is unable to predict the full extent and duration of the financial impact of these changes on our business, financial condition and results of operations
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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