The Ensign Group (ENSG) Misses Q3 EPS by 2c

The Ensign Group (NASDAQ: ENSG) reported Q3 EPS of $0.36, $0.02 worse than the analyst estimate of $0.38. Revenue for the quarter came in at $471.6 million versus the consensus estimate of $450.42 million.

2017 Guidance

Management reaffirmed its 2017 annual revenue guidance of $1.76 billion to $1.80 billion and adjusted its 2017 annual earnings per share guidance to between $1.39 and $1.42 per diluted share. Management’s guidance is based on diluted weighted average common shares outstanding of 53.0 million and a 35.5% tax rate, both of which reflect the impact of ASU 2016-09. In addition, the guidance assumes, among other things, normalized health insurance costs, anticipated Medicare and Medicaid reimbursement rate increases net of provider taxes and acquisitions closed to date. It also excludes acquisition-related costs and amortization costs related to intangible assets acquired, share-based compensation, costs incurred from closed operations, costs incurred to recognize income tax credits and costs incurred for facilities currently being constructed and other start-up operations.

2018 Guidance

Management also provided guidance for 2018, with annual revenue guidance of $2.0 billion to $2.06 billion and annual earnings per share guidance of $1.58 to $1.66 per diluted share for 2018. Management’s guidance is based on diluted weighted average common shares outstanding of 54.3 million and a 35.5% tax rate, both of which reflect the impact of ASU 2016-09. In addition, the guidance assumes, among other things, normalized health insurance costs, anticipated Medicare and Medicaid reimbursement rate increases net of provider taxes and acquisitions closed to date. It also excludes acquisition-related costs and amortization costs related to intangible assets acquired, share-based compensation, costs incurred from closed operations, costs incurred to recognize income tax credits, costs incurred for facilities currently being constructed and other start-up operations and excludes the adoption of ASU 606.

For earnings history and earnings-related data on The Ensign Group (ENSG) click here.

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