Ensign Group reports Q2 adjusted EPS $1.59, consensus $1.55

Reports Q2 revenue $1.23B, consensus $1.22B. “Our local teams achieved another outstanding quarter, raising the bar again for what is possible, even in a quarter where we historically have experienced more seasonality. The clinical results they achieved continue to be the primary driver of our success. As our teams work tirelessly to gain the trust of the communities they serve, our operations continue to earn the reputation as the facility of choice for thousands of patients. This trust is apparent from the strong trends in occupancy and skilled mix, which we believe is only achievable, over time, through consistent quality care and the dedication of amazing local leaders,” said Barry Port, Ensign’s CEO. “During the quarter our same store and transitioning occupancy increase to 82.1% and 84.0%, which are new second quarter records. We saw skilled daily census increase for both our same store and transitioning operations by 7.4% and 13.5%, respectively, over the prior year quarter. These improvements in occupancy and skilled mix in our same store operations and the even larger improvements in our transitioning operations highlight the significant organic growth potential inherent in our existing portfolio. At the same time, we continue to acquire new operations with enormous long-term upside. Since the beginning of 2024, we’ve added 52 new operations across several markets, many of which are already performing at or above our expectations. We are excited about the trajectory we are on for the year and look forward to capturing the enormous potential inherent in our portfolio,” Port added.