The Ensign Group (ENSG) Tops Q1 EPS by 4c; Raises Outlook

The Ensign Group (NASDAQ: ENSG) reported Q1 EPS of $0.87, $0.04 better than the analyst estimate of $0.83. Revenue for the quarter came in at $627.3 million versus the consensus estimate of $631.97 million.

"We are very happy to report record results again this quarter. Thanks to early access to the vaccine, we have seen a significant reduction in the number of COVID-positive patients and staff in our operations throughout the first quarter and since with weekly resident and staff cases now in the single digits across our entire portfolio. As a result, our patients and caregivers have begun to enjoy an environment that, although certainly different in many ways, is starting to look and feel a lot more like pre-COVID times,” said Barry Port, Ensign’s Chief Executive Officer. “As they’ve shown so many times before, our locally-empowered leadership teams have yet again demonstrated the agility of our model as they have customized their strategies to meet the specific needs of the markets they serve. In doing so, our operations have separated themselves from a traditional nursing home care, remaining integral to the preservation of the healthcare continuum providing for complex medical needs. As they have done so, our operations have begun to see occupancies climb, particularly among our managed care patients. And now, as these operations emerge from the height of this crisis, they are poised to fill an even greater role than before as new standards for excellence in post-acute care,” he added.

GUIDANCE:

The Ensign Group sees FY2021 EPS of $3.54-$3.66, versus the consensus of $3.49.

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

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