The Ensign Group Reports Increased Revenues for Q2; Raises Guidance

The Ensign Group, Inc. (Nasdaq: ENSG) last week reported net income of $9.6 million for the quarter on a 19% revenue increase to $157.9 million.  During Q2 2010, Ensign saw its occupancy stay essentially flat at 79.3% when compared to same quarter 2009 results and saw its overall average daily revenue increase from 2009 by 4.2% to $253.53 per day.

During the quarter, the Ensign Group acquired two long-term care facilities and a home health and hospice business in two separate transactions.  Those acquisitions increased the company’s portfolio to 81 facilities, 51 of which are Ensign-owned, with Ensign affiliates holding purchase options on eight of Ensign’s 30 leased facilities.


"We understand that our patients, our staff and our business all benefit from one essential thing: high quality care," said Ensign’s President and Chief Executive Officer Christopher Christensen. "Our balance sheet, together with our accumulated operating and turnaround expertise, position us well to continue our pattern of disciplined growth."

The Ensign Group Q2 2010 8-K