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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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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