The Ensign Group, Inc. announced another outstanding quarter for the second quarter ended June 30, 2025, reporting GAAP diluted earnings per share of $1.44 and adjusted earnings per share of $1.59. These results surpassed Wall Street expectations, driven by strong clinical outcomes and operational efficiency.
The company achieved new second-quarter records for occupancy, with same-store and transitioning occupancy increasing to 82.1% and 84.0% respectively. Skilled daily census increased by 7.4% for same-store and 13.5% for transitioning operations over the prior year quarter, highlighting significant organic growth potential.
Following a strong first half of the year, Ensign raised its annual 2025 earnings guidance to between $6.34 to $6.46 per diluted share, up from its previously raised guidance of $6.22 to $6.38. The new midpoint represents an increase of more than 16% over 2024 results. Annual revenue guidance was also increased to $4.99 billion to $5.02 billion, up from $4.89 billion to $4.94 billion.
Ensign continued its steady pace of growth, adding eight new operations, including three real estate assets, during and since the quarter. Since the beginning of 2024, the company has acquired 52 new operations across several markets. Standard Bearer, the captive REIT, now comprises 140 owned properties and generated $31.5 million in rental revenue for the quarter.
The company's liquidity remains strong with approximately $364.0 million of cash on hand and $592.6 million of available capacity under its line-of-credit. Ensign also paid a quarterly cash dividend of $0.0625 per share, maintaining its long history of dividend payments and demonstrating consistent shareholder returns.
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