Ensign Group narrows FY24 EPS view to $5.46-$5.52 from $5.38-$5.50

Consensus $5.46. Raises FY24 revenue view to $4.25B-$4.26B from $4.2B-$4.22B, consensus $4.23B. Port added, “Due to our solid skilled mix and occupancy growth during the quarter, as well as continued strength from our recent acquisitions, we are raising and narrowing our annual 2024 earnings guidance to between $5.46 to $5.52 per diluted share, up from $5.38 to $5.50 per diluted share. The new midpoint of our 2024 earnings guidance represents an increase of more than 15.1% of our 2023 results and is 32.6% higher than our 2022 results. We are also increasing our annual revenue guidance to between $4.25 billion to $4.26 billion, up from our previous guidance of $4.20 billion to $4.22 billion to account for our current quarter growth and acquisitions we anticipate closing by the end of the year. We are excited about finishing out 2024 and look forward to 2025 with confidence that our partners will continue to manage and innovate while balancing the addition of newly acquired operations.”