A pair of Orange County nursing home companies saw their shares fall today in the wake of first-quarter earnings reports.
Investors hammered Foothill Ranch-based Skilled Healthcare Group Inc. after it posted mixed results. Skilled shares were down about 11% in early afternoon trading today to a market value of some $270 million.
Skilled posted a first-quarter profit of $6.4 million, a 46% drop from a year ago. Wall Street had expected profit of $7.1 million.
The company’s revenue fell 2% to $219.4 million, which was slightly above analysts’ estimate of $215 million.
Skilled reaffirmed its previous full-year forecast of $29.1 million to $31.8 million in profit and $865 million to $880 million in revenue.
Analysts expect the company to make $31 million on revenue of $873.2 million.
Shares of Mission Viejo-based Ensign Group Inc. were down 3% today to a market value of about $571 million, a day after it reported mixed first-quarter results and reaffirmed its full-year guidance.
Ensign posted a profit of $13.3 million, up 2% from a year ago and above analysts’ forecasts of $12.9 million.
Revenue came in at $202.2 million, up 10% and in-line with Wall Street.
Ensign also reaffirmed its previous full-year profit forecast of $52.1 million to $53.5 million, compared to analysts’ expectations of $53.3 million.
Ensign projected revenue of $830 million to $846 million, compared to Wall Street’s expectation of $837 million.