Acadia Healthcare Reports Q3 Earnings

FRANKLIN, Tenn. – Acadia Healthcare (NASDAQ: ACHC) reported third quarter earnings that exceeded estimates, yet shares plummeted 17% due to disappointing full-year guidance.

The behavioral healthcare services provider posted adjusted earnings of $0.91 per share for Q3, surpassing analyst expectations of $0.90. Revenue increased by 8.7% YoY to $815.6 million, but fell short of the consensus estimate of $819.39 million.

While quarterly results were largely aligned, Acadia's outlook for the full year did not meet Wall Street projections. The company now anticipates 2024 earnings per share between $3.35 and $3.45, below the analyst consensus of $3.52. Full-year revenue guidance of $3.15 billion to $3.165 billion also lagged behind the estimated $3.2 billion.

CEO Chris Hunter stated, "Our financial results for the third quarter of 2024 reflect continued execution of our growth strategy." He highlighted progress on strategic goals, which included adding 15 beds to existing facilities and opening five new comprehensive treatment centers during the quarter.

Same facility revenue increased 8.6% in Q3, largely due to a 4.7% rise in patient days and a 3.6% increase in revenue per patient day. Adjusted EBITDA grew by 10.5% to $194.3 million, with margins expanding by 100 basis points to 29.7%.

For the entire year, Acadia expects to open over 400 new beds at existing facilities. The company is also on track to complete construction on several wholly owned and joint venture facilities totaling nearly 700 beds in Q4.

This article was generated with the support of AI and reviewed by an editor. For more information, see our T&C.