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Jun 30, 2024
Acadia Healthcare Q2 2024 Earnings Report
Acadia Healthcare reported strong financial and operating performance for Q2 2024, with revenue growth and strategic investments for long-term growth.
Key Takeaways
Acadia Healthcare reported an 8.8% increase in revenue to $796.0 million and net income attributable to Acadia of $78.5 million, or $0.85 per diluted share, for the second quarter of 2024. The company continues to execute its growth strategy, adding beds to existing facilities and opening a new facility in Mesa, Arizona.
Revenue totaled $796.0 million, an increase of 8.8% over the second quarter of 2023.
Same facility revenue increased 8.3% compared with the second quarter of 2023, including an increase in revenue per patient day of 5.6% and an increase in patient days of 2.6%.
Net income attributable to Acadia totaled $78.5 million, or $0.85 per diluted share.
Adjusted income attributable to Acadia totaled $83.6 million, or $0.91 per diluted share.
Acadia Healthcare
Acadia Healthcare
Forward Guidance
Acadia revised its previously announced financial guidance for 2024, reflecting the closure of two facilities during the second quarter. The company expects revenue between $3.180 to $3.225 billion and adjusted earnings per diluted share between $3.45 to $3.65.
Positive Outlook
- Revenue between $3.180 to $3.225 billion
- Adjusted EBITDA between $735 to $765 million
- Adjusted earnings per diluted share between $3.45 to $3.65
- Operating cash flows between $525 to $575 million
- Total bed additions, excluding acquisitions approximately 1,200 beds
Challenges Ahead
- Interest expense $110 to $120 million
- Tax rate not specified
- Depreciation and amortization expense $150 to $160 million
- Stock compensation expense $40 to $45 million
- Expansion capital expenditures $425 to $475 million