The Ensign Group Reports Second Quarter 2024 Results; Raises Annual Earnings and Revenue Guidance

About this update from The Ensign Group, Inc.

[{"type":"text","content":"Conference Call and Webcast scheduled for tomorrow, July 26, 2024 at 10:00 am PT\nSAN JUAN CAPISTRANO, Calif., July 25, 2024 (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 2024, reporting GAAP diluted earnings per share of $1.22 and adjusted earnings per share(1) of $1.32, both for the quarter ended June 30, 2024. Highlights Include: GAAP net income was $71.0 million, an increase of 11.0% over the prior year quarter. Adjusted net income(1) was $76.4 million for the quarter, an increase of 15.3%, over the prior year quarter. GAAP diluted earnings per share for the quarter was $1.22, an increase of 8.9% over the prior year quarter. Adjusted diluted earnings per share(1) was $1.32, an increase of 13.8%, over the prior year quarter. Same Facilities and Transitioning Facilities occupancy increased by 2.8% and 4.3%, respectively, over the prior year quarter and Same Facilities occupancy was 80.8% for the second quarter of 2024. Same Facilities and Transitioning Facilities skilled services revenue increased by 6.8% and 6.0%, respectively, over the prior year quarter. Same Facilities and Transitioning Facilities managed care revenue increased by 12.2% and 36.5%, respectively, over the prior year quarter. Consolidated GAAP and adjusted revenue for the quarter were $1.04 billion, an increase of 12.5% over the prior year quarter. Total skilled services(2) revenue was $991.3 million for the quarter, an increase of 12.1% over the prior year quarter. Total skilled services(2) segment income was $122.2 million for the quarter, an increase of 4.4% over the prior year quarter. Standard Bearer(2) revenue was $23.4 million for the quarter, an increase of 17.3% over the prior year quarter. FFO was $14.5 million for the quarter, an increase of 9.5% over the prior year quarter. See \"Reconciliation of GAAP to Non-GAAP Financial Information\". Our Skilled Services and Standard Bearer Segments are defined and outlined in Note 8 on Form 10-Q. Operating Results “We are thrilled to report another record quarter and are excited about the continued momentum our teams have created across...

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