Business
The Ensign Group Reports Second Quarter 2022 Results
Conference Call and Webcast scheduled for tomorrow, August 2, 2022 at 10:00 am PT SAN JUAN CAPISTRANO, Calif., Aug. 01, 2022 (GLOBE NEWSWIRE) -- The Ensign
About this update from The Ensign Group, Inc.
[{"type":"text","content":"Conference Call and Webcast scheduled for tomorrow, August 2, 2022 at 10:00 am PT\nSAN JUAN CAPISTRANO, Calif., Aug. 01, 2022 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign(TM) 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 second quarter of 2022, reporting GAAP diluted earnings per share and adjusted earnings per share(1) of $1.01 for the quarter ended June 30, 2022. Highlights Include: GAAP diluted earnings per share and adjusted diluted earnings per share for the quarter was $1.01, representing an increase of 16.1% and 13.5%(1), respectively, over the prior year quarter. Consolidated GAAP revenues and adjusted revenues(1) for the quarter were $732.5 million, an increase of 14.7% over the prior year quarter. Total skilled services(2) revenue was $702.5 million for the quarter, an increase of 14.6% over the prior year quarter and total skilled services(2) segment income increased to $102.3 million or 13.6% compared to prior year quarter. Same store and transitioning occupancy increased by 1.8% and 6.4%, respectively, over prior year quarter and increased by 0.7% and 1.8%, respectively, both sequentially over the first quarter. Same store and transitioning managed care revenue improved by 6.0% and 29.1%, respectively, over the prior year quarter and same store and transitioning managed care days increased by 4.1% and 26.0%, respectively, over the prior year quarter. Combined Same store and transitioning Medicare revenue and days improved by 5.4% and 4.7%, respectively from prior year quarter. Standard Bearer(2) revenue was $17.6 million for the quarter, an increase of 23.8% from prior year quarter and FFO was $12.1 million for the quarter. GAAP net income was $57.7 million and adjusted net income(1) was $57.4 million, an increase of 16.7% and 12.9%, respectively, over the prior year quarter.(1) See \"Reconciliation of GAAP to Non-GAAP Financial Information\".(2) Our Skilled Services and Standard Bearer Segments are defined and outlined in Note 8 on Form 10-Q. Quarterly Results “Our local teams have once again posted impressive clinical and financial results, and continue to build remarkable momentum in each market across our ...