Ensign Group Misses on Q2, Reaffirms Full YearThursday, August 8, 2013
Mission Viejo-based Ensign Group Inc. on Wednesday posted second-quarter results that missed Wall Street’s estimates.
The nursing home operator saw its adjusted profit come in at $13.7 million, 6% lower than 2012’s second quarter.
Analysts expected Ensign’s profit to come in at $15.2 million.
Revenue was up 8% to $220.1 million but fell short of consensus projections of $227.6 million.
Ensign, in a news release, referred to its performance as the result “of a number of small deficiencies, rather than any single big headwind.”
The company reaffirmed previous full-year guidance.
Ensign said its 2013 profit could come in at $60.7 million to $62.7 million, compared to analysts’ forecast of $61.2 million.
It expects full-year revenue of $915 million to $931 million. Wall Street is looking for $920.6 million in 2013 revenue.
Ensign shares were down about 3% in afternoon trading Thursday to a recent market value of $819.66 million.