earnings
confidence high
sentiment positive
materiality 0.75
Ensign Group Q3 adjusted EPS $0.91 record, raises 2021 guidance, announces captive REIT formation
ENSIGN GROUP, INC
2021-Q3 EPS reported
$2.56
revenue$1,934,319,000
- GAAP diluted EPS $0.83 (+7.8% YoY); adjusted EPS $0.91 (record, +16.7% YoY).
- Revenue $668.5M, up 11.6% YoY; same store occupancy +280 bps YoY, +50 bps sequentially.
- 2021 EPS guidance raised to $3.60-$3.68 from $3.55-$3.67; revenue guidance affirmed at $2.62-$2.69B.
- Board approved captive REIT formation, expected H1 2022; to pursue third-party leasing and tax-efficient structures.
- Skilled services segment income $94.4M (+11.4% YoY); Real estate FFO $13.8M (+6.5% YoY).