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THE ENSIGN GROUP, INC. (ENSG) filed Quarterly Report for the period ended 2011-09-30.
The Ensign Group Inc. has a market cap of $456.7 million; its shares were traded at around $21.77 with a P/E ratio of 9.8 and P/S ratio of 0.7. The dividend yield of The Ensign Group Inc. stocks is 1%.
This is the annual revenues and earnings per share of ENSG over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of ENSG.
Highlight of Business Operations:
Revenue. Revenue increased $31.7 million, or 19.2%, to $196.3 million for the three months ended September 30, 2011 compared to $164.7 million for the three months ended September 30, 2010. Of the $31.7 million increase, Medicare and managed care revenue increased $19.2 million, or 25.4%, Medicaid revenue increased $3.9 million, or 5.8% and private and other revenue increased $8.0 million, or 45.9%. Approximately $18.5 million of the total revenue increase was due to revenue generated by Recently Acquired Facilities. Since January 1, 2010, the Company has acquired 22 facilities and four home health and two hospice operations in eight states.Cost of Services (exclusive of facility rent and depreciation and amortization shown separately). Cost of services increased $24.3 million, or 18.5%, to $155.7 million for the three months ended September 30, 2011 compared to $131.5 million for the three months ended September 30, 2010. Of the $24.3 million increase, Same Facilities increased $8.0 million, or 7.8% and Recently Acquired Facilities increased $14.6 million. The $8.0 million increase in Same Facility cost of services was primarily due to a $3.7 million increase in salaries and benefits, a $2.1 million increase in ancillary expenses and a $1.7 million increase in insurance costs. The increase in salaries and benefits was primarily due to increases in nursing wages and benefits due to increased services provided at Same Facilities. The increase in ancillary expenses was primarily due to increased therapy wages. The increase in insurance was primarily due to increased general and professional liability costs. Cost of services decreased as a percent of total revenue to 79.3% for the three months ended September 30, 2011 as compared to 79.8% for the three months ended September 30, 2010.
Revenue. Revenue increased $88.8 million, or 18.6%, to $565.6 million for the nine months ended September 30, 2011 compared to $476.8 million for the nine months ended September 30, 2010. Of the $88.8 million increase, Medicare and managed care revenue increased $59.7 million, or 27.1%, Medicaid revenue increased $11.4 million, or 5.9% and private and other revenue increased $17.4 million, or 34.6%. Approximately $43.3 million of the total revenue increase was due to revenue generated by Recently Acquired Facilities. Since January 1, 2010, the Company has acquired 22 facilities and four home health and two hospice operations in eight states.
Cost of Services (exclusive of facility rent and depreciation and amortization shown separately). Cost of services increased $64.1 million, or 16.8%, to $444.5 million for the nine months ended September 30, 2011 compared to $380.5 million for the nine months ended September 30, 2010. Of the $64.1 million increase, Same Facilities increased $24.2 million, or 7.9% and Recently Acquired Facilities increased $33.2 million. The $24.2 million increase in Same Facility cost of services was primarily due to a $8.4 million increase in salaries and benefits, a $6.9 million increase in ancillary expenses and a $1.7 million increase in insurance costs. The increase in salaries and benefits was primarily due to increases in nursing wages and benefits due to increased services provided at Same Facilities. The increase in ancillary expenses was primarily due to increased therapy wages. The increase in insurance was primarily due to increased general and professional liability costs. Cost of services decreased as a percent of total revenue to 78.6% for the nine months ended September 30, 2011 as compared to 79.8% for the nine months ended September 30, 2010.
Depreciation and Amortization. Depreciation and amortization expense increased $4.6 million, or 37.2%, to $16.8 million for the nine months ended September 30, 2011 compared to $12.2 million for the nine months ended September 30, 2010. Depreciation and amortization expense increased as a percent of total revenue to 3.0% for the nine months ended September 30, 2011 as compared to 2.6% for the nine months ended September 30, 2010. This increase was primarily related to the additional depreciation of $2.3 million at Recently Acquired Facilities, as well as increases of $1.5 and $0.8 million at Same and Transitioning Facilities, respectively, due to recent renovations and our purchase of the underlying assets of three of our skilled nursing facilities which we previously operated under a long-term lease agreement. Of the $2.3 million increase at Recently Acquired Facilities, $0.8 million represented amortization expense of patient base intangible assets which are amortized over four to twelve months.
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