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Mar 31, 2024
Acadia Healthcare Q1 2024 Earnings Report
Acadia Healthcare reported solid financial and operating performance with revenue growth and strategic investments.
Key Takeaways
Acadia Healthcare reported a strong first quarter in 2024, with a 9.1% increase in revenue to $768.1 million. The company saw a 9.2% increase in same facility revenue, driven by a 6.9% increase in revenue per patient day and a 2.2% increase in patient days. Net income attributable to Acadia was $76.4 million, or $0.83 per diluted share, and adjusted EBITDA increased by 14.9% to $173.9 million.
Revenue totaled $768.1 million, an increase of 9.1% over the first quarter of 2023
Same facility revenue increased 9.2% compared with the first quarter of 2023, including an increase in revenue per patient day of 6.9% and an increase in patient days of 2.2%
Net income attributable to Acadia totaled $76.4 million, or $0.83 per diluted share
Adjusted EBITDA totaled $173.9 million, an increase of 14.9% over the first quarter of 2023
Revenue by Geographic Location
Forward Guidance
Acadia affirmed its previously announced financial guidance for 2024.
Positive Outlook
- Revenue between $3.18 to $3.25 billion
- Adjusted EBITDA between $730 to $770 million
- Adjusted earnings per diluted share between $3.40 to $3.70
- Interest expense between $110 to $120 million
- Total bed additions, excluding acquisitions, approximately 1,200 beds
Challenges Ahead
- Tax rate between 24.5% to 25.5%
- Depreciation and amortization expense between $150 to $160 million
- Stock compensation expense between $40 to $45 million
- Operating cash flows between $525 to $575 million
- Expansion capital expenditures between $425 to $475 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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