Acadia Healthcare Q3 2023 Earnings Report
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.
Acadia Healthcare
Acadia Healthcare
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
- IT capital expenditures: $35 to $45 million