Thu, Oct 24, 8:05 PM (70 days ago)
As of September 30, 2024, The Ensign Group, Inc. (ENSG) reported robust quarterly performance with total revenue of $1,081,776, a 15% increase year-over-year, driven by improved occupancy rates and higher daily revenue across skilled services. Net income reached $78,567, reflecting a 22.9% profit margin. The company saw a notable rise in service revenue, particularly from Medicaid and managed care sources, which comprised over 70% of total revenue. Operating expenses rose to $992,438, primarily due to higher labor costs and increased healthcare expenses, leading to an operating income of $89,338. Cash flow from operations was strong at $246,730, although down from the prior year due to tax payments. Investing activities reflected significant capital expenditures of $110,079, while financing activities were stable with no new debt under the Credit Facility. The company remains focused on integrating acquisitions and enhancing operational efficiencies, despite ongoing labor pressures and regulatory scrutiny. Looking ahead, the company may face challenges from potential changes in Medicare reimbursement rates and increased regulatory oversight, particularly concerning staffing requirements and ownership disclosures.