Ensign Group raises and narrows FY24 EPS view to $5.38-$5.50, consensus $5.40

Raises FY24 revenue view to $4.2B-$4.22B, consensus $4.16B. CEO Barry Port said, “Due to our solid skilled mix and occupancy growth, as well as continued strength from our recent acquisitions, we are raising and narrowing our annual 2024 earnings guidance to between $5.38 to $5.50 per diluted share, up from $5.29 to $5.47 per diluted share. This new midpoint of our 2024 earnings guidance represents an increase of more than 14% of our 2023 results and is 31% higher than our 2022 results. We are also increasing our annual revenue guidance to between $4.20 billion to $4.22 billion, up from our previous guidance of $4.13 billion to $4.17 billion. We are excited about the upcoming year and are confident that our partners will continue to manage and innovate while balancing the addition of newly acquired operations.”