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Why Do They Need a Bailout?

Published on May 26th, 2020

The Ensign Group (Nasdaq: ENSG) has been on a roll for countless quarters, and not even the effects of a historic global pandemic were enough to prevent the skilled nursing chain from deriving substantial profits to start 2020.

The San Juan Capistrano, Calif.-based operator saw a 28.3% increase in its per-share earnings over the fourth quarter of 2019 — which itself represented another record — and announced its intention to maintain its 2020 guidance despite continued COVID-19 uncertainty in the industry and the markets at large.

That earnings figure was also a 92.5% increase over the same time last year.

Occupancy at Ensign actually hit a record high in February, right before COVID-19 swept across the country, giving Ensign a cushion when occupancy and skilled mix slid 5.2% and 11.8%, respectively, from mid-March to mid-April.

 

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