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Dec 31, 2023
Acadia Healthcare Q4 2023 Earnings Report
Acadia Healthcare reported strong Q4 2023 results, demonstrating impressive revenue and EBITDA growth, driven by solid execution and strategic investments.
Key Takeaways
Acadia Healthcare's Q4 2023 performance showcased strong revenue growth of 10.0% year-over-year, driven by a 10.3% increase in same-facility revenue. The company continued its growth strategy through facility expansions, de novo facilities, and joint ventures. Acadia provided full year and first quarter 2024 guidance, reflecting confidence in continued growth and profitability.
Revenue totaled $742.8 million, a 10.0% increase year-over-year.
Same facility revenue increased by 10.3% compared to Q4 2022.
Net income attributable to Acadia was $57.7 million, or $0.63 per diluted share.
Adjusted income attributable to Acadia was $78.3 million, or $0.85 per diluted share.
Forward Guidance
Acadia established financial guidance for 2024, with revenue projected between $3.18 and $3.25 billion and adjusted earnings per diluted share between $3.40 and $3.70. For the first quarter of 2024, revenue is expected to be between $775 and $785 million, with adjusted earnings per diluted share between $0.78 and $0.83.
Positive Outlook
- Revenue between $3.18 to $3.25 billion
- Adjusted EBITDA between $730 to $770 million
- Adjusted earnings per diluted share between $3.40 to $3.70
- Operating cash flows between $525 to $575 million
- Total bed additions of approximately 1,200 beds
Challenges Ahead
- Interest expense between $110 to $120 million
- Tax rate between 24.5% to 25.5%
- Depreciation and amortization expense between $150 to $160 million
- Stock compensation expense between $40 to $45 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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