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Jun 30, 2023
Acadia Healthcare Q2 2023 Earnings Report
Acadia Healthcare's Q2 2023 performance was marked by strong financial results and strategic growth initiatives.
Key Takeaways
Acadia Healthcare reported a revenue of $731.3 million, a 12.2% increase year-over-year. Net income attributable to Acadia was $72.3 million, or $0.79 per diluted share, and adjusted income from continuing operations was $84.7 million, or $0.92 per diluted share. The company also raised its full-year financial guidance.
Revenue totaled $731.3 million, an increase of 12.2% over the second quarter of 2022.
Same facility revenue increased 11.4% compared with the second quarter of 2022, including an increase in revenue per patient day of 6.1% and an increase in patient days of 4.9%.
Net income attributable to Acadia totaled $72.3 million, or $0.79 per diluted share, and adjusted income from continuing operations attributable to Acadia totaled $84.7 million, or $0.92 per diluted share.
The company signed a definitive agreement in July to acquire a 76-bed specialty provider of substance use disorder and primary mental health treatment services based in the greater Salt Lake City, Utah, area
Acadia Healthcare
Acadia Healthcare
Forward Guidance
Acadia increased its previously announced financial guidance for 2023.
Positive Outlook
- Revenue $2.86 to $2.90 billion
- Adjusted EBITDA $655 to $685 million
- Adjusted earnings per diluted share $3.25 to $3.50
- Interest expense $82 to $85 million
- Tax rate 25% to 26%
Challenges Ahead
- Depreciation and amortization expense $125 to $135 million
- Stock compensation expense $30 to $35 million
- Operating cash flows $450 to $500 million
- Expansion capital expenditures $350 to $400 million
- Maintenance capital expenditures $40 to $50 million