Ensign Group (ENSG) Q3 FY2023 earnings: revenue $941 million, up 22.2% on the year

Ensign Group, Inc. (ENSG) reported revenue of $941 million for Q3 FY2023, the quarter ended 30 September 2023, up 22.2% on the same quarter a year earlier. Net income was $64 million, up 13.7% on the year, and diluted earnings per share $1.11. The figures are the company's own, from the 10-Q it filed with the SEC on 25 October 2023.

Revenue$941 millionup 22.2%

Net income$64 millionup 13.7%

Diluted EPS$1.11

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	941	n/a	n/a	n/a
Cost of revenue	741	n/a	n/a	n/a
Gross profit	200	n/a	n/a	n/a
Gross margin	21.2%	n/a	n/a
Operating income	79.8	n/a	n/a	n/a
Operating margin	8.5%	n/a	n/a
Interest expense	2.0	n/a	n/a	n/a
Pre-tax income	82.0	n/a	n/a	n/a
Income tax	18.1	n/a	n/a	n/a
Effective tax rate	22.0%	n/a	n/a
Net income	63.9	n/a	n/a	n/a
Net margin	6.8%	n/a	n/a
Diluted EPS	$1.11	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	123	n/a	n/a	n/a
Cash from investing	-75.3	n/a	n/a	n/a
Cash from financing	-0.1	n/a	n/a	n/a
Depreciation and amortisation	18.4	n/a	n/a	n/a
Share-based compensation	7.2	n/a	n/a	n/a
Buybacks	0.0	n/a	n/a	n/a
Dividends paid	3.2	n/a	n/a	n/a
Dividend per share	$0.06	n/a	n/a	n/a
Diluted shares, weighted	57m	n/a	n/a	n/a
Shares outstanding at period end	56m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	1,460	n/a	n/a	n/a
Non-controlling interest	5.7	n/a	n/a	n/a
Debt	146	n/a	n/a	n/a
Operating lease liabilities	1,658	n/a	n/a	n/a
Other liabilities	812	n/a	n/a	n/a
Total liabilities and equity	4,082	n/a	n/a	n/a
Fixed assets	1,068	n/a	n/a	n/a
Goodwill	76.9	n/a	n/a	n/a
Intangible assets	6.3	n/a	n/a	n/a
Investments	16.4	n/a	n/a	n/a
Cash and equivalents	468	n/a	n/a	n/a
Receivables	472	n/a	n/a	n/a
Other assets	1,974	n/a	n/a	n/a
Total assets	4,082	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	941	980	1,010	1,036	1,082	1,132	1,173	1,228	1,296	1,361	1,389	1,440
Cost of revenue	741	781	799	820	860	897	928	972	1,045	1,075	1,096	1,134
Gross profit	200	199	211	216	222	235	245	256	252	286	293	306
Gross margin	21%	20%	21%	21%	21%	21%	21%	21%	19%	21%	21%	21%
Operating income	79.8	22.8	82.2	86.0	89.3	101	101	104	96.2	124	125	123
Operating margin	8%	2%	8%	8%	8%	9%	9%	8%	7%	9%	9%	9%
Interest expense	2.0	2.0	2.0	2.0	2.0	2.3	2.0	2.0	2.0	2.0	1.9	1.9
Pre-tax income	82.0	31.3	89.6	92.1	98.7	106	107	112	107	130	129	134
Tax rate	22%	30%	23%	23%	20%	25%	25%	25%	21%	27%	22%	25%
Net income	63.9	21.7	68.8	71.0	78.4	79.7	80.3	84.4	83.8	95.5	99.7	99.7
Net margin	7%	2%	7%	7%	7%	7%	7%	7%	6%	7%	7%	7%
Diluted EPS	$1.11	$0.38	$1.19	$1.22	$1.34	$1.36	$1.37	$1.44	$1.42	$1.61	$1.67	$1.68
Operating cash flow	123	85.3	35.3	76.9	134	100	72.2	156	153	183	100	172
Buybacks	0.0	0.0	0.0	0.0	0.0	0.0	10.8	9.2	0.0	0.0	0.0	40.0
Dividends paid	3.2	3.2	3.4	3.4	3.4	3.4	3.6	3.6	3.6	3.6	3.8	3.8
Shares outstanding	56m	57m	57m	57m	57m	57m	58m	58m	58m	58m	58m	58m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 25 October 2023, accession 0001125376-23-000184: the filing on EDGAR. All of Ensign Group, Inc.'s filings: EDGAR company page.

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