In This Story
The Ensign Group Inc. (ENSG-0.84%) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations, which include skilled nursing, senior living, and rehabilitative services across 327 facilities in 15 states. The Ensign Group also engages in healthcare-related real estate investments through its captive REIT, Standard Bearer.
For the year ended December 31, 2024, The Ensign Group reported a total revenue increase of 14.2% to $4.26 billion, driven by increased occupancy and daily revenue rates across its skilled nursing operations.
The company's skilled services segment, which includes skilled nursing facilities, generated $4.08 billion in revenue, with a 9.8% increase in actual patient days compared to the previous year.
The Standard Bearer segment reported rental revenue of $95.1 million, a 15.3% increase from the prior year, attributed to real estate acquisitions and annual rent increases.
The Ensign Group's net income for the year was $298.5 million, with an effective tax rate of 22.7%. The company noted a decrease in general and administrative expenses, partially due to the resolution of a litigation matter.
The company highlighted its expansion efforts, adding 31 new operations during the year, including facilities in new states such as Tennessee and Alabama.
The Ensign Group also invested in ancillary services and real estate, with capital expenditures totaling $158.2 million in 2024.
The filing outlines the company's liquidity position, stating that cash flow from operations, cash reserves, and available credit facilities are expected to support business operations for the foreseeable future.
The Ensign Group's strategic focus remains on acquiring and improving underperforming facilities, increasing occupancy, and enhancing patient care quality across its operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the The Ensign Group Inc. annual 10-K report dated February 5, 2025. To report an error, please email earnings@qz.com.