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Jun 30, 2020
Acadia Healthcare Q2 2020 Earnings Report
Acadia Healthcare's financial results for Q2 2020 were announced, showing a decrease in revenue compared to the same period in 2019, but highlighting the ongoing need for their services.
Key Takeaways
Acadia Healthcare reported a decrease in revenue for Q2 2020, with $750.3 million compared to $789.4 million in Q2 2019. Net income attributable to Acadia stockholders was $41.1 million, or $0.46 per diluted share, compared to $48.1 million, or $0.55 per diluted share, for the same period in 2019.
Revenue for the second quarter of 2020 was $750.3 million, compared to $789.4 million for the second quarter of 2019.
Net income attributable to Acadia stockholders for the second quarter of 2020 was $41.1 million, or $0.46 per diluted share.
U.S. same facility revenue decreased 3.4%, including a 0.7% decrease in patient days and a 2.7% decrease in revenue per patient day, compared to the second quarter last year.
As of June 30, 2020, the Company had $212 million in cash and cash equivalents.
Acadia Healthcare
Acadia Healthcare
Forward Guidance
Acadia believes there will continue to be a significant need for their services as the associated challenges brought on by the pandemic continue to affect everyone.
Positive Outlook
- Strong demand for mental health and substance use treatments
- Ongoing need for services due to the pandemic
- Investments to serve patients’ needs through bed expansion
- Extension of market reach
- Advancement of market leadership as a behavioral healthcare facilities operator
Challenges Ahead
- Impact of the COVID-19 pandemic
- Potential difficulties operating business in light of political and economic instability in the U.K.
- Impact of fluctuations in foreign exchange rates
- Potential reductions in payments received from government and third-party payors
- Risk of not generating sufficient cash from operations to service its debt