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UnitedHealth Group Incorporated (UNH) - free report >>
Tenet Healthcare Corporation (THC) - free report >>
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Ensign Group (ENSG) Q3 Earnings Meet, '21 Earnings Guidance Up
The Ensign Group, Inc. (ENSG - Free Report) delivered adjusted operating earnings of 84 cents per share in third-quarter 2021, matching the Zacks Consensus Estimate. The bottom line improved 16.7% year over year.
Results benefited from a healthy revenue stream.
The Ensign Group, Inc. Price, Consensus and EPS Surprise
The Ensign Group, Inc. price-consensus-eps-surprise-chart | The Ensign Group, Inc. Quote
Operational Update
Total operating revenues of $669 million increased 11.7% year over year in the reported quarter. The top line beat the Zacks Consensus Estimate by 1.4%.
Adjusted net income in the quarter under review was $51.8 million, up 18.6% from the prior-year quarter’s level.
Same-store skilled days increased 12.7% year over year while transitioning skilled days rose 4.8% year over year.
Real estate segment reported rental revenues of $16.2 million in the third quarter, up 4.7% year over year.
Skilled services revenues of the company came in at $642 million, up 12.6% year over year.
On the flip side, total expenses increased 10.7% year over year to $602.2 million due to higher cost of services, rent – cost of services, and general and administrative expense.
Financial Update
The company exited the third quarter with $304.6 million of cash and cash equivalents, up 28.8% from the level at 2020 end.
As of Sep 30, 2021, long-term debt less current maturities was $140.6 million, up 25% from the level at 2020 end.
Net cash provided by operating activities at the end of third-quarter 2021 summed $204.4 million, down 27.5% year over year.
Dividend Update
Ensign Group paid out a quarterly cash dividend of 5.25 cents per share during the quarter.
2021 Guidance
Following solid third-quarter results, the company raised its current-year earnings projection to $3.60-$3.68 from the prior projection of $3.55-$3.67 per share.
It still expects annual revenues in the band of $2.62-$2.69 billion.
Zacks Rank
Ensign Group carries a Zacks Rank #3 (Hold), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Medical Sector Releases
Among other players from the medical space that have reported third-quarter earnings so far, the bottom-line results of UnitedHealth Group Incorporated (UNH - Free Report) , Tenet Healthcare Corporation (THC - Free Report) and HCA Healthcare, Inc. (HCA - Free Report) beat respective estimates.