Orange County Business Journal

Ensign Group Misses on Q2, Reaffirms Full Year

Vita Reed Thursday, 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.