The following is a summary of the The Ensign Group, Inc. (ENSG) Q2 2024 Earnings Call Transcript:

Financial Performance:

• ENSG reported a GAAP diluted earnings per share of $1.22, up 8.9%, and adjusted earnings per share of $1.32, up 13.8%.

• GAAP and adjusted consolidated revenues were $1 billion, marking an increase of 12.5%.

• GAAP net income rose 11% to $71 million, and adjusted net income was up 15.3% to $76.4 million.

• ENSG increased and narrowed its 2024 earnings guidance to between $5.38 and $5.50 per diluted share, and raised its annual revenue guidance to between $4.20 billion and $4.22 billion.

Business Progress:

• ENSG focused on growth through the acquisition of 10 new operations and 6 real estate assets in Q2 2024.

• Highlighted two operational examples showcasing significant improvement and integration success in transitioning and same-store operations.

• Implementation of proven operational principles resulting in reduced employee turnover and decreased reliance on staffing agencies.

Opportunities:

• ENSG has significant organic growth potential in its portfolio, with opportunities to increase occupancy and skilled mix days in both existing and newly acquired operations.

Risks:

• Barry Port cited the ongoing implications of overturning the Chevron doctrine could positively impact healthcare regulations.

More details: Ensign IR

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