Company Overview - The Ensign Group, Inc. (ENSG) has been providing post-acute care since 1999 through its independent subsidiaries [6] - The company operates 343 facilities with over 38,000 beds/units across the care continuum and employs more than 50,500 individuals [18] - The company has experienced a 15% annual revenue growth rate and a 16% annual EBITDAR growth rate since 2014 [18] Financial Performance and Guidance - The company's 2025 revenue guidance is $4.91 billion [18] - The company's 2025 EPS guidance is $6.30 [18] - Q1 2025 revenue reached $1.173 billion, a 16.1% increase compared to Q1 2024 [113] - Same facility skilled nursing facility revenue increased by 5.6% in Q1 2025 compared to Q1 2024 [113] - Consolidated adjusted net income increased by 18.0% in Q1 2025 compared to Q1 2024, reaching $89 million [113] Portfolio and Acquisitions - The company operates in 17 states [19, 35] - The company has 143 owned properties [19] - The company's occupancy rate is 82.6% [19] - The company's skilled mix days is 33.1% [19] - The company completed 73 acquisitions since 2023 [22] - The company completed 16 acquisitions from January 1, 2025, to April 1, 2025 [21] Standard Bearer REIT - Standard Bearer REIT has 137 properties with a real estate fair value of $1.5 billion [85] - Standard Bearer REIT operates in 16 states with 13,920 operating beds/units [85] - Standard Bearer REIT has a weighted average lease tenor of 14.3 years [85, 91] - 98% of Standard Bearer REIT's leases expire after 2031 [92] - Standard Bearer REIT's total rental revenue for Q1 2025 was $28.401 million, including $4.497 million from third-party tenants and $23.904 million from Ensign's independent subsidiaries [146]

Ensign Group (ENSG) reported $1.17 billion in revenue for the quarter ended March 2025, representing a year- over-year increase of 16.1%. EPS of $1.52 for the same period compares to $1.30 a year ago. The reported revenue represents a surprise of +0.23% over the Zacks Consensus Estimate of $1.17 billion. With the consensus EPS estimate being $1.50, the EPS surprise was +1.33%. Here is how Ensign Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall ...

分组1 - Ensign Group reported quarterly earnings of $1.52 per share, exceeding the Zacks Consensus Estimate of $1.50 per share, and up from $1.30 per share a year ago, representing an earnings surprise of 1.33% [1] - The company posted revenues of $1.17 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 0.23%, and an increase from $1.01 billion year-over-year [2] - Ensign Group has consistently outperformed consensus EPS and revenue estimates over the last four quarters [2] 分组2 - The stock has experienced a decline of approximately 4.4% since the beginning of the year, while the S&P 500 has declined by 6% [3] - The current consensus EPS estimate for the upcoming quarter is $1.53 on revenues of $1.19 billion, and for the current fiscal year, it is $6.24 on revenues of $4.87 billion [7] - The Medical - Nursing Homes industry, to which Ensign Group belongs, is currently ranked in the top 2% of over 250 Zacks industries, indicating strong performance potential [8]

The Ensign Group Reports First Quarter 2025 Results; Raises Annual Earnings and Revenue Guidance Conference Call and Webcast scheduled for tomorrow, April 30, 2025 at 10:00 am PT SAN JUAN CAPISTRANO, California – April 29, 2025 – The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign group of companies, which provide post-acute healthcare services and invest in the long-term healthcare industry, primarily in skilled nursing and senior living facilities, announced operating results for the f ...

Core Insights - The Ensign Group, Inc. reported strong operating results for Q1 2025, with GAAP diluted earnings per share of $1.37 and adjusted earnings per share of $1.52, reflecting increases of 15.1% and 16.9% respectively compared to the prior year quarter [4][5]. Financial Performance - GAAP net income for the quarter was $80.3 million, up 16.6% year-over-year, while adjusted net income reached $89.0 million, an 18.0% increase [5]. - Consolidated revenue for the quarter was $1.17 billion, representing a 16.1% increase from the previous year [5]. - The company experienced significant growth in occupancy rates, with same store occupancy increasing to 82.6% and transitioning occupancy to 83.5%, both new highs [4][5]. Growth and Acquisitions - The company added 47 new operations since 2024, with 19 new operations added in the latest quarter alone, indicating a robust acquisition strategy [8][9]. - Ensign's portfolio now consists of 343 healthcare operations across 17 states, with a focus on both leasing and acquiring real estate [12][13]. Guidance and Future Outlook - Following a strong first quarter, the company raised its annual 2025 earnings guidance to between $6.22 and $6.38 per diluted share, which is a 14.5% increase over 2024 results [7]. - Annual revenue guidance was also increased to $4.89 billion to $4.94 billion, reflecting confidence in continued growth and acquisitions [7]. Operational Highlights - The skilled daily census increased by 7.6% and 9.9% for same store and transitioning operations respectively compared to the prior year quarter [5]. - Managed care census grew by 8.9% and 15.6% for same store and transitioning operations respectively, highlighting the company's operational strength [5]. Dividend and Share Repurchase - The company paid a quarterly cash dividend of $0.0625 per share and completed a $20 million share repurchase program, demonstrating strong liquidity and commitment to returning value to shareholders [14].

Operations and Facilities - As of March 31, 2025, the company operates 340 skilled nursing and senior living facilities, with a total of 34,946 operational skilled nursing beds and 3,220 senior living units[146][148]. - During the three months ended March 31, 2025, the company expanded its operations by adding 11 skilled nursing operations and one senior living operation, contributing 1,365 operational skilled nursing beds and 132 operational senior living units[150]. - Subsequent to March 31, 2025, the company added two skilled nursing operations and one senior living operation, resulting in an additional 241 operational skilled nursing beds and 68 operational senior living units[151]. - The company expanded its operations into Alabama, Alaska, and Oregon, adding three skilled nursing operations and one campus operation in the first quarter of 2025[152]. - The company’s operational skilled nursing beds are distributed as follows: 10,682 owned and operated, 687 leased with a purchase option, and 23,577 leased without a purchase option[148]. - The company’s skilled nursing operations are concentrated in Texas (79), California (67), and Arizona (33), which together account for a significant portion of its operational capacity[157]. - The company added 13 new operations during the three months ended March 31, 2025, contributing to overall growth[278]. - The number of facilities at period end grew to 297, a 12.5% increase from 264 in the previous year[306]. Financial Performance - Total revenue for the three months ended March 31, 2025, increased by $162.9 million, or 16.1%, compared to the same period in 2024[276]. - Diluted GAAP earnings per share grew by 15.1%, from $1.19 to $1.37, for the three months ended March 31, 2025[276]. - Skilled services segment income for the three months ended March 31, 2025, was $143,931,000, up from $126,809,000 in 2024[281]. - Adjusted EBITDA for the three months ended March 31, 2025, was $137,385,000, compared to $115,675,000 in 2024[281]. - Net income for the three months ended March 31, 2025, was $80,353 thousand, compared to $68,960 thousand in 2024, representing a growth of 16.5%[301]. - Adjusted EBITDA increased to $137,385 thousand, up from $115,675 thousand, marking an 18.7% increase year-over-year[301]. - Total expenses as a percentage of total revenue decreased from 91.9% in 2024 to 91.4% in 2025[281]. - Revenue generated by Transitioning Facilities increased by $14.8 million, or 8.8%, primarily due to improved occupancy and skilled mix[313]. Revenue Sources - Total service revenue for the skilled services segment reached $1,123.6 million in Q1 2025, up from $969.6 million in Q1 2024, representing a year-over-year increase of approximately 15.9%[168]. - Medicaid revenue for skilled services increased to $443.4 million in Q1 2025 from $382.1 million in Q1 2024, accounting for 39.5% of skilled services revenue[168]. - Medicare revenue for skilled services rose to $287.8 million in Q1 2025, compared to $265.6 million in Q1 2024, representing a growth of approximately 8.4%[168]. - Skilled services revenue reached $1,123,554 thousand, up from $969,602 thousand, reflecting a 15.9% increase[306]. - Skilled revenue as a percentage of total skilled nursing routine revenue at 71.3% in Q1 2025[168]. Occupancy and Patient Metrics - The occupancy percentage based on operational beds improved to 81.9% in Q1 2025, compared to 80.1% in Q1 2024, with operational beds increasing from 31,169 to 34,946[165]. - The company reported a total of 2,538,135 actual patient days in Q1 2025, an increase from 2,255,531 in Q1 2024, reflecting a growth in patient occupancy[165]. - For the three months ended March 31, 2025, the skilled mix for patient days increased to 31.4% from 31.0% in 2024, while the skilled mix for revenue rose to 50.2% from 49.9%[163]. - Same Facilities occupancy increased by 2.9% to 82.6% during the three months ended March 31, 2025, indicating market share growth[276]. - Transitioning Facilities occupancy rose by 5.0% to 83.5% compared to the same period in 2024, reflecting organic growth from acquired operations[276]. Regulatory Environment - The company is subject to extensive regulatory changes that may impact revenue and operational costs, with ongoing scrutiny from federal and state agencies[170]. - The Ownership Transparency Final Rule requires skilled nursing facilities to disclose additional ownership information, effective November 2024, which may affect compliance and operational practices[174]. - The Staffing Rule issued by CMS establishes minimum staffing standards for skilled nursing facilities, with phased implementation over the next several years[184]. - The SNF Quality Reporting Program (SNF QRP) includes standardized patient assessment data elements, with penalties for non-compliance resulting in a 2.0% reduction in payment rates[191]. - The SNF PPS FY 2025 Final Rule results in a net 4.2% increase in SNF payments under Medicare Part A for fiscal year 2025, based on a 3.0% market basket increase and adjustments[199]. - The Improving Care and Access to Nurses Act (I CAN Act) was introduced to expand the role of nurse practitioners in skilled nursing facilities, potentially increasing access to care[178]. - The California Department of Health Care Access and Information approved a statewide healthcare spending target of 3.0%, which will be phased in over time, starting at 3.5% for 2025 and 2026[183]. - The Patient-Driven Payment Model (PDPM) focuses on clinically relevant factors to determine Medicare reimbursement, aiming for a more value-based payment system[189]. Cash Flow and Financing - Cash provided by operating activities increased by $36.9 million for the three months ended March 31, 2025, compared to the same period in 2024, due to improved operational performance and timing of payments[338]. - Cash used in investing activities increased by $209.1 million for the three months ended March 31, 2025, primarily for acquisitions and capital expenditures[339]. - Cash used by financing activities increased by $11.9 million for the three months ended March 31, 2025, primarily due to $10.8 million in share repurchases[341]. - The company maintains a revolving credit facility with Truist Securities with an availability of up to $600.0 million, maturing on April 8, 2027[342]. - The interest rates on the credit facility range from 0.25% to 1.25% per annum based on the Consolidated Total Net Debt to Consolidated EBITDA ratio[342]. - Cash and cash equivalents at the end of the period were $282.7 million for the three months ended March 31, 2025, down from $511.8 million in the same period in 2024[337]. - The company reported a net decrease in cash and cash equivalents of $181.9 million for the three months ended March 31, 2025[337]. Costs and Expenses - Cost of services increased by $123.9 million, or 16.1%, to $891.9 million, with cost of services as a percentage of revenue rising to 79.4%[320]. - General and administrative expenses rose by $5.4 million, or 9.4%, to $62.6 million, primarily due to additional headcount from acquisition activities[325]. - Cash paid for acquisitions was $194.2 million for the three months ended March 31, 2025, compared to $2.9 million for the same period in 2024[330]. - The company has approximately $150.0 million budgeted for renovation projects in 2025[330].

Core Points - The Ensign Group, Inc. will release its first quarter 2025 financial results on April 29, 2025 [1] - A live webcast for discussing the financial performance will take place on April 30, 2025, at 10:00 a.m. Pacific Time [2] - The Ensign Group operates 343 healthcare facilities across multiple states, providing a range of skilled nursing and senior living services [4]

Core Viewpoint - The Ensign Group, Inc. is set to release its first quarter 2025 financial results on April 29, 2025, and will hold a conference call on April 30, 2025, to discuss its performance [1][2]. Company Overview - The Ensign Group, Inc. operates independent subsidiaries that provide a wide range of services including skilled nursing, senior living services, and various rehabilitative therapies across 343 healthcare facilities in multiple states [4]. Conference Call Details - A live webcast for investors will take place on April 30, 2025, at 10:00 a.m. Pacific Time, where management will discuss the company's first quarter performance [2]. - The webcast will be available for replay on the company's website until May 31, 2025 [3]. Contact Information - For further inquiries, the Ensign Group can be contacted at (949) 487-9500 or via email at ir@ensigngroup.net [5].

Group 1 - Ensign Group (ENSG) shares have increased by 0.7% over the past four weeks, closing at $130.45, with a mean price target of $166 indicating a potential upside of 27.3% [1] - The average of six short-term price targets ranges from a low of $155 to a high of $175, with a standard deviation of $7.46, suggesting a potential increase of 18.8% to 34.2% from the current price [2] - Analysts show strong agreement on the company's ability to report better earnings than previously predicted, which supports the view of potential upside [4][11] Group 2 - The Zacks Consensus Estimate for the current year has increased by 0.6% over the past month, indicating positive sentiment among analysts [12] - ENSG holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, suggesting a strong potential upside [13] - While price targets can be misleading, the direction implied by them appears to be a good guide for potential price movement [10][13]

Core Insights - The Ensign Group, Inc. has acquired operations of Alamitos West Health and Rehabilitation, a 142-bed skilled nursing facility, and Katella Senior Living Community, a 68-unit senior living facility, both located in Los Alamitos, California, effective April 1, 2025 [1][2] - In a separate transaction, Ensign acquired the real estate and operations of Pacific Haven Subacute and Healthcare Center, a 99-bed skilled nursing facility in Garden Grove, California, with real estate assets purchased by Standard Bearer Healthcare REIT, Inc. [3][4] - The recent acquisitions expand Ensign's portfolio to 343 healthcare operations, including 44 senior living operations across 17 states, with 143 real estate assets owned by its subsidiaries [5][6] Company Strategy - Ensign's CEO expressed enthusiasm about adding these operations to their mature market, indicating a focus on building upon existing strengths [2] - The company aims to enhance clinical excellence in the newly acquired facilities by leveraging proven operating principles [3] - Ensign is actively seeking further acquisition opportunities in skilled nursing, senior living, and healthcare-related businesses throughout the United States [5]