Ensign Group, Inc.

Medical Care Facilities • Healthcare • San Juan Capistrano, CA, United States • ENSG (NMS)

949 487 9500 29222 Rancho Viejo Road, San Juan Capistrano, CA 92675, United States

Quarter: Q4 2025 Reported: November 3, 2025 Sentiment: Neutral

The Ensign Group, Inc. provides skilled nursing, senior living, and rehabilitative services. It operates through two segments: Skilled Services and Standard Bearer. The Skilled Services segment provides short and long-term nursing care services for patients with chronic conditions, prolonged illness, and the elderly; specialty care, such as on-site dialysis, ventilator care, cardiac, and pulmonary management; and standard services, such as room and board, special nutritional programs, social services, recreational activities, entertainment, and other services. The Standard Bearer segment leases post-acute care properties to healthcare operators. In addition, the company operates senior living units; and provides ancillary services consisting of digital x-ray, ultrasound, electrocardiograms, sub-acute services, dialysis, respiratory, and long-term care pharmacy and patient transportation to people in their homes or at long-term care facilities, as well as mobile diagnostics. The company operates healthcare facilities in Alabama, Alaska, Arizona, Colorado, Idaho, Iowa, Kansas, Oregon, Nebraska, Nevada, South Carolina, Tennessee, Texas, Utah, Washington and Wisconsin. The company was incorporated in 1999 and is based in San Juan Capistrano, California.

Analysis Summary

This 8-K filing from The Ensign Group, Inc. (ENSG) formally announces the release of its financial results for the third quarter ended September 30, 2025. The comprehensive financial performance data, encompassing revenue, net income, EPS, and any forward guidance, is explicitly stated to be in the accompanying press release (Exhibit 99.1), which is not included in this document. The filing dedicates significant attention to detailing the company's use of various non-GAAP financial measures, including Adjusted Net Income, Adjusted Earnings per Share, EBITDA, Adjusted EBITDA, Adjusted EBITDAR, Adjusted EBT, and Funds from Operations (FFO) for its Standard Bearer segment. For each measure, specific adjustments from GAAP net income are outlined. Management's rationale for using these non-GAAP metrics is that they provide valuable supplemental information for assessing operating performance, particularly as the excluded revenues and expenses are considered infrequent, variable, or non-cash. A critical caveat highlighted is the potential for these non-GAAP measures to not be comparable with calculations from other companies in the industry. The company advises against relying solely on these non-GAAP figures and directs investors to its periodic SEC filings for a deeper understanding of their application and inherent limitations. Without access to the actual press release, a detailed analysis of ENSG's Q3 2025 financial performance, strategic initiatives, competitive positioning, or specific risk factors beyond the non-GAAP limitations cannot be provided.

Key Highlights

• The Ensign Group, Inc. announced its third-quarter 2025 financial results on November 3, 2025.
• Detailed financial performance metrics are contained in an attached press release (Exhibit 99.1), not within the 8-K text.
• The company utilizes and defines several non-GAAP financial measures, including Adjusted Net Income, Adjusted EPS, EBITDA, and FFO.
• Management believes non-GAAP measures provide important supplemental information for evaluating operating performance.
• A material limitation of non-GAAP measures is their potential non-comparability with other industry companies.

Financial Metrics

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guidance

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Stock Performance (90 Days)

Data through Feb 13, 2026

Positive Signals

• Announcement of Q3 2025 results indicates ongoing operational reporting.
• Commitment to providing supplemental non-GAAP measures for investor clarity.
• Regular SEC filing (8-K) demonstrates compliance and transparency.

Risks & Concerns

— Non-GAAP financial measures may not be comparable with calculations of net income and diluted earnings per share for other companies in the industry.
— Investors are cautioned against relying on non-GAAP financial measures to the exclusion of GAAP financial measures.
— Specific financial performance details, forward-looking statements, and operational risks are not available in this 8-K filing, requiring reference to the full press release.