Ensign Group reports Q3 adjustedEPS $1.39, consensus $1.38

Reports Q3 revenue $1.08B, consensus $1.07B. “Our local leaders continue to consistently drive outstanding clinical and financial performance and we are happy to report another record quarter,” said Barry Port, Ensign’s CEO. “We are particularly impressed with these results when we’ve added 53 new operations across several markets in our recently acquired bucket. Our model leans heavily on local clusters and existing operations to support our newly acquired operations, and yet these local clusters have shown their strength by simultaneously integrating the new operations into their clusters while achieving outstanding results in existing operations. More specifically, during the quarter we saw same store occupancies grow to 81.7%, a 2.8% increase over the prior year quarter, establishing new high-water mark for same store occupancy, which is especially noteworthy during a quarter where we historically have experienced seasonally softer occupancies. We also saw skilled mix days increase for both our same store and transitioning operations by 3.3% and 14.1%, respectively, over the prior year quarter. The growth was not due to any one relationship or market but instead, the improvement was across all payors. In addition, our managed care census grew by 9.1% and 23.2% for our same store and transitioning operations, respectively, over the prior year quarter, which is a very important and growing part of our business and points to the trust our leaders are continuing to gain by achieving high quality outcomes,” Port added.