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Sep 30, 2023
Acadia Healthcare Q3 2023 Earnings Report
Acadia Healthcare showcased strong financial results and strategic progress in Q3 2023, with revenue growth and advancements in facility expansion and joint ventures.
Key Takeaways
Acadia Healthcare reported a revenue of $750.3 million, a 12.5% increase year-over-year, and a net loss of $217.7 million, which included a $394.2 million legal settlement expense. Adjusted income was $83.9 million, with adjusted EBITDA at $175.9 million, reflecting strong operational execution and growth strategy.
Revenue increased by 12.5% to $750.3 million compared to Q3 2022.
Same facility revenue grew by 13.0% year-over-year.
Net loss attributable to Acadia was $217.7 million, impacted by legal settlements.
Adjusted EBITDA increased by 13.4% to $175.9 million compared to Q3 2022, excluding income from the Provider Relief Fund.
Forward Guidance
Acadia updated its 2023 financial guidance, projecting revenue between $2.90 to $2.92 billion and adjusted earnings per diluted share between $3.33 to $3.43, while affirming guidance for interest expense, tax rate, and capital expenditures.
Positive Outlook
- Revenue: $2.90 to $2.92 billion
- Adjusted EBITDA (excluding PRF income): $665 to $675 million
- Adjusted earnings per diluted share (excluding PRF income): $3.33 to $3.43
- Interest expense: $82 to $85 million
- Tax rate: 25% to 26%
Challenges Ahead
- Expansion capital expenditures: $300 to $350 million
- Depreciation and amortization expense: $125 to $135 million
- Stock compensation expense: $30 to $35 million
- Maintenance capital expenditures: $40 to $50 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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