Ensign Group Files Q2 2024 10-Q
Ticker: ENSG · Form: 10-Q · Filed: Jul 25, 2024 · CIK: 1125376
Sentiment: neutral
Topics: 10-Q, healthcare, skilled-nursing
Related Tickers: ENSG
TL;DR
ENSG Q2 10-Q is in! Check financials for skilled nursing giant.
AI Summary
Ensign Group, Inc. filed its 10-Q for the period ending June 30, 2024. The company, operating in skilled nursing care facilities, reported its financial performance for the second quarter of 2024. Key financial details and operational metrics are presented in this filing.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Ensign Group, a key player in the skilled nursing sector, allowing for updated valuations and strategic assessments.
Risk Assessment
Risk Level: medium — The company operates in the healthcare sector, which is subject to regulatory changes and reimbursement risks.
Key Players & Entities
- ENSIGN GROUP, INC (company) — Filer of the 10-Q
- 20240630 (date) — Period of report for the 10-Q
- 20240725 (date) — Filing date of the 10-Q
- SKILLED NURSING CARE FACILITIES (industry) — Primary business of Ensign Group
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the filing covers the period ending June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on 20240725.
What is Ensign Group, Inc.'s primary industry?
Ensign Group, Inc. operates in the SERVICES-SKILLED NURSING CARE FACILITIES sector, with SIC code 8051.
What is the company's business address?
The business address is 29222 RANCHO VIEJO RD., SUITE 127, SAN JUAN CAPISTRANO, CA 92675.
What is the SEC file number for Ensign Group, Inc.?
The SEC file number is 001-33757.
Filing Stats: 4,636 words · 19 min read · ~15 pages · Grade level 14.8 · Accepted 2024-07-25 16:04:26
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share ENSG NASDAQ Global Select Mar
Filing Documents
- ensg-20240630.htm (10-Q) — 3055KB
- ensgq22024ex31.htm (EX-3.1) — 33KB
- ensgq22024ex311.htm (EX-31.1) — 12KB
- ensgq22024ex312.htm (EX-31.2) — 13KB
- ensgq22024ex321.htm (EX-32.1) — 11KB
- ensgq22024ex322.htm (EX-32.2) — 11KB
- ensg-20240630_g1.jpg (GRAPHIC) — 13KB
- 0001125376-24-000135.txt ( ) — 12157KB
- ensg-20240630.xsd (EX-101.SCH) — 69KB
- ensg-20240630_cal.xml (EX-101.CAL) — 96KB
- ensg-20240630_def.xml (EX-101.DEF) — 397KB
- ensg-20240630_lab.xml (EX-101.LAB) — 840KB
- ensg-20240630_pre.xml (EX-101.PRE) — 650KB
- ensg-20240630_htm.xml (XML) — 1848KB
Financial Information
PART I. Financial Information Pg.
Financial Statements (unaudited)
Item 1. Financial Statements (unaudited): Condensed Consolidated Balance Sheets as of June 3 0 , 2024 and December 31, 2023 1 Condensed Consolidated Statements of Income for the three and six months ended June 3 0 , 2024 and 2023 2 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 3 0 , 2024 and 2023 3 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 30
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 69
Controls and Procedures
Item 4. Controls and Procedures 69 P ART II. Other Information
Legal Proceedings
Item 1. Legal Proceedings 70
Risk Factors
Item 1A. Risk Factors 73
Other Information
Item 5. Other Information 103
Exhibits
Item 6. Exhibits 104
Signatures
Signatures Table of Contents PART I.
FINANCIAL STATEMENTS
Item 1. FINANCIAL STATEMENTS THE ENSIGN GROUP, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par values) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 477,336 $ 509,626 Accounts receivable—less allowance for doubtful accounts of $ 9,460 and $ 9,348 at June 30, 2024 and December 31, 2023, respectively 547,121 485,039 Investments—current 24,126 17,229 Prepaid income taxes 18,798 3,830 Prepaid expenses and other current assets 47,699 31,206 Total current assets 1,115,080 1,046,930 Property and equipment, net 1,177,822 1,090,771 Right-of-use assets 1,842,613 1,756,430 Insurance subsidiary deposits and investments 112,756 92,687 Deferred tax assets 66,572 67,124 Restricted and other assets 38,551 40,205 Intangible assets, net 6,703 6,525 Goodwill 77,241 76,869 TOTAL ASSETS $ 4,437,338 $ 4,177,541 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 88,652 $ 92,811 Accrued wages and related liabilities 322,928 332,568 Lease liabilities—current 89,176 82,526 Accrued self-insurance liabilities—current 61,356 54,664 Other accrued liabilities 164,640 168,228 Current maturities of long-term debt 4,017 3,950 Total current liabilities 730,769 734,747 Long-term debt—less current maturities 143,559 145,497 Long-term lease liabilities—less current portion 1,720,250 1,639,326 Accrued self-insurance liabilities—less current portion 123,835 111,246 Other long-term liabilities 55,854 49,408 TOTAL LIABILITIES $ 2,774,267 $ 2,680,224 Commitments and contingencies (Notes 15 and 20) EQUITY Ensign Group, Inc. stockholders' equity: Common stock: $ 0.001 par value; 150,000 shares authorized; 60,449 and 57,049 shares issued and shares outstanding at June 30, 2024, respectively, and 59,987 and 56,597 shares issued and shares outstanding at December 31, 2023, respectively 61 60 Additional paid-in capital 499,411 465,707 Retained earnings 1,275,657 1,142,653 Common s