The Ensign Group, Inc. reported strong operating results for the third quarter ended September 30, 2024, with GAAP diluted earnings per share of $1.34 and adjusted earnings per share of $1.39. The company's local leaders drove outstanding clinical and financial performance, achieving another record quarter.
Consolidated occupancy for same-store facilities reached an all-time high of 81.7%, a 2.8% increase over the prior year quarter. Skilled mix days increased by 3.3% for same-store operations and 14.1% for transitioning operations, with managed care census growing by 9.1% and 23.2% respectively.
Based on these results, Ensign raised and narrowed its annual 2024 earnings guidance to between $5.46 to $5.52 per diluted share, up from $5.38 to $5.50. The company also increased its annual revenue guidance to between $4.25 billion to $4.26 billion, up from $4.20 billion to $4.22 billion, reflecting current quarter growth and anticipated acquisitions.
The company continued its growth strategy, adding twelve new operations, including three real estate assets, during and since the quarter, bringing the number of operations acquired during the year to 27. Standard Bearer, the captive REIT, generated rental revenue of $24.4 million for the quarter and $14.8 million in FFO.
Ensign's liquidity remains strong with approximately $532.1 million of cash on hand and $572.1 million of available capacity under its line-of-credit. The company also paid a quarterly cash dividend of $0.06 per share, noting its 21st consecutive annual dividend increase in December 2023.
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