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News Breaks
August 5, 2014
06:20 EDTENSGEnsign Group revises FY14 EPS to $2.16-$2.21 from $2.75-$2.81, consensus $2.26
Backs FY14 revenue $1.01b-$1.03B, consensus $1.01B. The updated guidance is based on the impact of the separation of Ensign's healthcare business and certain real estate assets that was completed on June 1, 2014, which resulted in an increase in rent and diluted weighted average common shares to 23.2 million, and a reduction in depreciation and interest expenses. The guidance also assumes, among other things, acquisitions anticipated to be closed this year, anticipated Medicare and Medicaid reimbursement rate increases net of provider taxes, and tax rates of 38.5%. It excludes acquisition-related costs and amortization costs related to intangible assets, acquired start-up losses at newly-created operations and transaction-related costs connected with the spin-off.
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