Ensign earnings rose in the third quarter of 2026, and the skilled nursing and senior living company raised its full-year earnings outlook after reporting higher revenue and occupancy.

Key Takeaways

  • Third-quarter revenue rose 14.5% to $1.48 billion, while GAAP diluted earnings per share increased 23.9% to $1.76.
  • Ensign raised its 2026 earnings guidance to $7.94–$8.02 per diluted share from $7.75–$7.85.
  • The company added 22 operations during and after the quarter, including its entry into Florida.

Ensign earnings and third-quarter results

For the three months ended September 30, Ensign reported GAAP net income of $104.3 million, up 24.4% from the prior-year quarter. Adjusted net income rose 24.9% to $120.5 million, and adjusted diluted earnings per share increased 23.8% to $2.03.

Chief Executive Officer Barry Port said the company saw growth in occupancy and skilled mix during the quarter. Medicare revenue rose 11.1% at Same Facilities and 7.8% at Transitioning Facilities compared with the year-earlier period.

ItemDetails
Third-quarter occupancy84.1% at Same Facilities; 86.1% at Transitioning Facilities
Skilled mix revenue growth10.7% at Same Facilities; 10.5% at Transitioning Facilities, year over year
Medicare revenue growth11.1% at Same Facilities; 7.8% at Transitioning Facilities, year over year

Full-year guidance moves higher

On October 27, Ensign increased its 2026 earnings guidance to $7.94–$8.02 per diluted share, citing the strength of the third quarter and management’s confidence in the fourth quarter. It also raised the lower end of its annual revenue guidance to $5.89 billion while keeping the upper end at $5.92 billion.

The earnings outlook excludes certain items, including acquisition-related costs and share-based compensation. It assumes approximately 59.5 million diluted weighted-average shares, a 25.0% tax rate and acquisitions expected to close through the fourth quarter.

Acquisitions and liquidity

Chief Investment Officer Chad Keetch said Ensign added 22 operations during the third quarter and afterward: three real estate assets and 19 leased operations. The company also acquired five properties that it had been operating under lease arrangements.

Ensign said its portfolio consisted of 418 healthcare operations across 18 states. Chief Financial Officer Suzanne Snapper reported approximately $337.6 million in cash and $731.6 million of available capacity under the company’s line of credit.

Next milestone

Ensign scheduled a webcast to discuss the results for October 28, 2026, at 10 a.m. Pacific time.

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