Ensign Group Inc

Latest Results (12.05.2026):

Ensign Group Inc — first quarter of 2026: The Ensign Group Inc reported strong Q1 2026 results with GAAP diluted EPS of $1.67 (up 21.9% year‑over‑year) and adjusted diluted EPS of $1.85 (up 21.7%). Consolidated revenue was $1.389 billion (up 18.4% YoY) and GAAP net income was $99.7 million (up 24.2%). Management raised 2026 guidance for both earnings and revenue and highlighted continued occupancy, skilled mix gains, robust liquidity, and active acquisition activity.

Earnings

GAAP diluted EPS: $1.67 (+21.9% YoY); adjusted diluted EPS: $1.85 (+21.7% YoY). GAAP net income was $99.7M and adjusted net income was $110.2M (adjusted +23.9% YoY).

Revenue

Consolidated revenue for Q1 2026 was $1.389B (+18.4% YoY). Total skilled services revenue was $1.331B (+18.4% YoY); Same Facilities skilled services revenue rose 6.8% YoY and Transitioning Facilities rose 9.3% YoY.

Occupancy and Skilled Mix

Same Facilities occupancy was 84.3% (up 2.3 percentage points YoY) and Transitioning Facilities occupancy was 85.1% (up 3.8 points YoY). Same and Transitioning skilled days increased 4.4% and 9.3%, respectively.

Medicare and Managed Care Trends

Medicare revenue improved 9.8% at Same Facilities and 9.2% at Transitioning Facilities versus Q1 2025. Combined Same+Transitioning managed care and Medicare census increased sequentially by 6.2% and 8.3%, respectively.

Profitability Metrics

Consolidated EBITDA was $152.7M for the quarter and adjusted EBITDA was $171.2M after non‑GAAP adjustments (stock‑based comp, implementation costs, acquisition costs, etc.).

Guidance Raised

Management increased 2026 diluted EPS guidance to $7.48–$7.62 (from $7.41–$7.61) and raised 2026 revenue guidance to $5.81B–$5.86B (from $5.77B–$5.84B); midpoint implies ~15% growth vs. 2025.

Liquidity & Capital

Cash on hand was $539.5M and available capacity under the line of credit was $591.6M. Weighted average diluted shares used in guidance are ~60.0M and guidance assumes a 25.0% tax rate.

Acquisitions & Portfolio Growth

Ensign continues active M&A: portfolio now comprises 395 healthcare operations across 17 states and 179 owned real estate assets (141 operated by Ensign affiliates). The company closed multiple real estate and operating acquisitions in Q1 and late April 2026.

Standard Bearer (Real Estate) Results

Standard Bearer rental revenue was $36.1M for the quarter (+27.1% YoY) and FFO was $21.6M (+26.6% YoY); $30.8M of rental revenue was from Ensign‑affiliated operations.

Capital Return

The company paid a quarterly cash dividend of $0.065 per share and reiterated its intent to continue dividend payments given strong liquidity.