Core Points - The Nomination Committee was elected at the AGM on 14 May 2024, consisting of Robert N. Keith (Chair), Rune Sundvall, and Christian Schlytter-Henrichsen [1] - Two members of the Nomination Committee resigned, leaving only Robert N. Keith, which is below the minimum required by the Company's Articles of Association [2] - The Chair has been in contact with the Company's management and major shareholders to define the desired profile of Board members [3] Board Composition - The current Board consists of Terje Rogne (Chair), Morten Opstad, and Nina Riibe, all of whom are up for re-election at the upcoming AGM [5][6] - The current Board members are willing to continue for a new two-year term, and the Nomination Committee proposes their re-election [6][7] Board Remuneration - The remuneration for Board members for the period from the 2025 AGM to the 2026 AGM is proposed to be NOK 300,000 per member, payable quarterly [10] - The same level of cash remuneration is proposed for the next term, with the first payment due on 31 August 2025 [10] Subscription Rights - The Nomination Committee proposes grants of incentive subscription rights to Terje Rogne (16,000,000 rights) and Morten Opstad (5,000,000 rights) [11][13] - The vesting schedule for these subscription rights is proposed to be 10% after one year, 20% after two years, and 70% after three years [12][17] Nomination Committee Remuneration - The Chair of the Nomination Committee proposes that no remuneration is paid to the resigned members for their services from the 2024 AGM until their resignations [23] - Robert N. Keith waives his right to a remuneration fee [23] Nomination Committee Election - Robert N. Keith is proposed to be re-elected as Chair of the Nomination Committee, with Andreas Ellingsen and Fredrik Munck as new members for a one-year term [24]

Core Viewpoint - The Ensign Group, Inc. (ENSG) reported strong first-quarter 2025 results, with increased occupancy rates and patient days contributing to revenue growth, although rising expenses partially offset the gains [1][2][3]. Financial Performance - Adjusted earnings per share (EPS) for Q1 2025 were $1.52, exceeding the Zacks Consensus Estimate by 1.3% and reflecting a year-over-year increase of 16.9% [2]. - Operating revenues reached $1.2 billion, marking a 16.1% year-over-year growth and beating the consensus estimate by 0.2% [2]. - Adjusted net income improved 18% year over year to $89 million, surpassing the estimate of $88.3 million [3]. Segment Performance - Skilled Services segment revenues grew 15.9% year over year to $1.12 billion, slightly missing the Zacks Consensus Estimate but exceeding internal estimates [4]. - Rental revenues from the Standard Bearer segment totaled $28.4 million, up 27.9% year over year, driven by buyouts [5]. Operational Metrics - Same-facilities occupancy improved by 230 basis points, while transitioning-facilities occupancy expanded by 400 basis points year over year [3]. - Total expenses increased by 15.5% year over year to $1.07 billion, higher than the estimate of $1.06 billion [3]. Cash and Debt Position - As of March 31, 2025, cash and cash equivalents were $282.7 million, down 39.2% from the end of 2024 [6]. - Long-term debt (less current maturities) was $140.6 million, a decrease of 0.7% from December 31, 2024 [7]. Capital Deployment - The company repurchased shares worth $10.8 million and paid dividends totaling $3.6 million in Q1 2025 [9]. 2025 Outlook - Revenue guidance for 2025 has been revised to a range of $4.89-$4.94 billion, indicating a 15.4% improvement from 2024 [10]. - Adjusted EPS is forecasted between $6.22 and $6.38 for 2025, reflecting a 14.5% growth from the previous year [10].

Core Insights - The Ensign Group, Inc. has acquired Marianwood Health and Rehabilitation, a 117-bed skilled nursing facility in Issaquah, Washington, effective May 1, 2025, as part of a larger acquisition of seven facilities from Providence Home and Community Care announced in December 2024 [1][3] Group 1: Acquisition Details - The acquisition includes both the real estate and operations of the facility, with the real estate being acquired by Standard Bearer Healthcare REIT, Inc., a subsidiary of Ensign [1] - This acquisition expands Ensign's portfolio to 344 healthcare operations, including 44 senior living operations across 17 states [3] Group 2: Strategic Importance - The CEO of Ensign, Barry Port, emphasized the importance of this facility in enhancing their existing locations and building a strong portfolio in the northwest [2] - Steve Farnsworth, President of Pennant Healthcare LLC, highlighted the strategic fit of this operation for their growth in Washington and the commitment to providing quality care [3] Group 3: Future Plans - Ensign is actively seeking further opportunities to acquire real estate and lease both well-performing and struggling skilled nursing and senior living facilities across the United States [3]

Financial Data and Key Metrics Changes - The company reported a GAAP diluted earnings per share of $1.37, an increase of 15.1% year-over-year, and adjusted diluted earnings per share of $1.52, an increase of 16.9% [27] - Consolidated GAAP revenue and adjusted revenues were both $1,200,000,000, reflecting a 16.1% increase [27] - GAAP net income was $80,300,000, up 16.6%, while adjusted net income reached $89,000,000, an increase of 18% [28] Business Line Data and Key Metrics Changes - Same store occupancy increased to 82.6%, while transitioning occupancy rose to 83.5% compared to the prior year [9] - Skilled census increased by 7.6% for same store operations and 9.9% for transitioning operations [9] - Managed care census grew by 8.9% for same store and 15.6% for transitioning operations [9] Market Data and Key Metrics Changes - The company added 47 new operations since January 2024, including 19 new operations in Q1 2025 across various states [13] - The company is expanding its presence in Tennessee, Alabama, Oregon, and Alaska, indicating growth in these new markets [14][16] Company Strategy and Development Direction - The company is raising its annual 2025 earnings guidance to between $6.22 and $6.38 per diluted share, reflecting a 14.5% increase over 2024 results [10] - Annual revenue guidance has been increased to $4,890,000,000 to $4,940,000,000, up from $4,830,000,000 to $4,910,000,000 [11] - The company emphasizes disciplined growth and a focus on local leadership to drive operational improvements and acquisitions [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to continue achieving sustainable growth despite external challenges [32] - The operating environment is expected to present both near-term and long-term opportunities for acquisitions due to struggles faced by many operators in the industry [18] - Management is actively involved in advocacy regarding potential changes in Medicaid funding and is optimistic about the focus on the expansion population [42][45] Other Important Information - The company reported cash and cash equivalents of $282,700,000 and cash flow from operations of $72,200,000 [28] - A quarterly cash dividend of $6.25 per common share was paid, marking 22 consecutive years of annual dividend increases [30] - The company completed a $20,000,000 stock repurchase program, indicating confidence in its share valuation [30] Q&A Session Summary Question: Overview of managed care contracting and its impact on guidance - Management highlighted their long history with managed care and the importance of local partnerships to drive clinical success and financial returns [35][36] Question: Thoughts on potential Medicaid cuts and policy changes - Management is actively involved in advocacy and has met with congressional leaders to educate them on the implications of potential funding changes [41][43] Question: Changes in deal volume and market dynamics - The company noted a strong deal flow and emphasized a disciplined approach to acquisitions, with a focus on real estate [49][50] Question: Staffing constraints and their impact on admissions - Management indicated that while the sector has not fully recovered, their operators have successfully filled positions to maintain occupancy levels [55][56] Question: Competitive landscape and economics in new markets - Management stated that competition remains consistent and expressed optimism about achieving similar economics in new markets as in established ones [66][70]

Financial Data and Key Metrics Changes - The company achieved a GAAP diluted earnings per share of $1.37, an increase of 15.1% year-over-year, and adjusted diluted earnings per share of $1.52, an increase of 16.9% [25] - Consolidated GAAP revenue and adjusted revenues were both $1,200,000,000, reflecting a 16.1% increase [25] - GAAP net income was $80,300,000, up 16.6%, while adjusted net income reached $89,000,000, an increase of 18% [25][26] - The company raised its annual 2025 earnings guidance to between $6.22 and $6.38 per diluted share, up from $6.16 to $6.34 per diluted share, representing a 14.5% increase over 2024 results [9][29] Business Line Data and Key Metrics Changes - Same store occupancy increased to 82.6%, while transitioning occupancy rose to 83.5%, both showing significant improvement over the prior year [8] - Skilled census increased by 7.6% for same store operations and 9.9% for transitioning operations compared to the prior year [8] - Managed care census grew by 8.9% for same store and 15.6% for transitioning operations over the prior year [8] Market Data and Key Metrics Changes - The company added 47 new operations since January 2024, including 19 new operations in the latest quarter, expanding its footprint across multiple states [12][14] - The addition of 1,906 new skilled nursing beds and 200 senior living units across eight states demonstrates the company's growth strategy [13] Company Strategy and Development Direction - The company is focused on organic growth potential in its existing portfolio while continuing to pursue acquisition opportunities [10][17] - There is a commitment to maintaining a disciplined acquisition strategy, ensuring that growth aligns with leadership capabilities and market conditions [17][18] - The company aims to deepen its presence in established markets while exploring new opportunities in regions like the Southeast [16][69] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to achieve sustainable growth despite external challenges, emphasizing strong operational fundamentals [7][11] - The company is actively involved in advocacy regarding potential changes in Medicaid funding, ensuring that its interests are represented [38][40] - Management noted that the operating environment remains favorable, with opportunities for both leasing and acquiring post-acute care assets [17][18] Other Important Information - The company reported cash and cash equivalents of $282,700,000 and cash flow from operations of $72,200,000 [26] - A quarterly cash dividend of $6.25 per common share was declared, continuing a history of annual dividend increases for 22 consecutive years [28] Q&A Session Summary Question: Can you provide an overview of the appetite for value-based and outcome-based contracts? - Management highlighted a long history of engagement with managed care, emphasizing local partnerships that drive clinical success and financial returns [33][34] Question: What are the latest thoughts on potential Medicaid cuts? - Management is actively involved in advocacy efforts to educate Congress on the implications of potential changes to Medicaid funding, noting a focus on the expansion population [38][40] Question: How sustainable is the current pace of investment? - The company noted a strong deal flow and a disciplined approach to acquisitions, with a focus on real estate investments [48][49] Question: Are there still staffing constraints affecting admissions? - Management indicated that while the sector has not fully recovered from staffing shortages, the company has successfully filled positions to maintain occupancy levels [54][56] Question: What is the anticipated Medicaid rate update across the portfolio? - Management stated that discussions with states regarding Medicaid funding are ongoing, but there has been no proactive engagement due to the fluid nature of federal discussions [71][73]

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].