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Acadia Healthcare (ACHC) Q2 Earnings Top Estimates, Fall Y/Y
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Acadia Healthcare Company, Inc.’s (ACHC - Free Report) second-quarter 2020 earnings of 54 cents per share beat the Zacks Consensus Estimate by 42.11%. However, the bottom line was down 11.5% year over year.
Further, the company’s revenues of $750.3 million missed the Zacks Consensus Estimate by 0.54% and also dipped 5% year over year.
Total same facility revenues slipped 3.5% to $727 million due to 2.3% decrease in patient days and a 1.2% decline in revenue per patient day.
Consolidated adjusted EBITDA was $144.4 million, down 9.1% year over year.
Consolidated EBITDA margin on same facility basis was 23.3%, contracting 60 basis points year over year.
Total expenses slid 4% year over year to $700.4 million on the back of lower salaries and wages, professional fees plus supplies and other operating expenses.
During the first half of 2020, the company added 106 beds to its U.S. operations. In mid-July, it announced the opening of its 144-bed behavioral health facility.
Acadia Healthcare Company, Inc. Price, Consensus and EPS Surprise
U.S. same facility revenues were down 3.4% year over year to $501.2 million.
The segment also recorded a 0.7% year-over-year decrease in patient days and a 2.7% decline in revenue per patient day.
U.K. same facility revenues were down 3.8% year over year to $249.3 million. The number of patient days slid 4.5% from the year-earlier period whereas revenue per patient per day inched up 0.7%.
Financial Update (as of Jun 30, 2020)
Cash and cash equivalents were $212 million, down 34.8% from the level on Dec 31, 2019.
Long-term debt was $3.08 billion, down 0.9% from the figure as of Dec 31, 2019.
Net cash provided by operating activities for the six months ended Jun 30, 2020 was $264.9 million, up 106% year over year.
The company exited the quarter with total assets worth $6.8 billion, down 0.7% from the level as of Dec 31, 2019.
Acadia Healthcare carries a Zacks Rank #3 (Hold), currently.
Among other companies in the healthcare sector, the bottom-line results of UnitedHealth Group Inc. (UNH - Free Report) , Anthem Inc. and Humana Inc. (HUM - Free Report) beat estimates by 37.45%, 4.9% and 21.47%, respectively.
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Acadia Healthcare (ACHC) Q2 Earnings Top Estimates, Fall Y/Y
Acadia Healthcare Company, Inc.’s (ACHC - Free Report) second-quarter 2020 earnings of 54 cents per share beat the Zacks Consensus Estimate by 42.11%. However, the bottom line was down 11.5% year over year.
Further, the company’s revenues of $750.3 million missed the Zacks Consensus Estimate by 0.54% and also dipped 5% year over year.
Total same facility revenues slipped 3.5% to $727 million due to 2.3% decrease in patient days and a 1.2% decline in revenue per patient day.
Consolidated adjusted EBITDA was $144.4 million, down 9.1% year over year.
Consolidated EBITDA margin on same facility basis was 23.3%, contracting 60 basis points year over year.
Total expenses slid 4% year over year to $700.4 million on the back of lower salaries and wages, professional fees plus supplies and other operating expenses.
During the first half of 2020, the company added 106 beds to its U.S. operations. In mid-July, it announced the opening of its 144-bed behavioral health facility.
Acadia Healthcare Company, Inc. Price, Consensus and EPS Surprise
Acadia Healthcare Company, Inc. price-consensus-eps-surprise-chart | Acadia Healthcare Company, Inc. Quote
Segmental Details
U.S. same facility revenues were down 3.4% year over year to $501.2 million.
The segment also recorded a 0.7% year-over-year decrease in patient days and a 2.7% decline in revenue per patient day.
U.K. same facility revenues were down 3.8% year over year to $249.3 million. The number of patient days slid 4.5% from the year-earlier period whereas revenue per patient per day inched up 0.7%.
Financial Update (as of Jun 30, 2020)
Cash and cash equivalents were $212 million, down 34.8% from the level on Dec 31, 2019.
Long-term debt was $3.08 billion, down 0.9% from the figure as of Dec 31, 2019.
Net cash provided by operating activities for the six months ended Jun 30, 2020 was $264.9 million, up 106% year over year.
The company exited the quarter with total assets worth $6.8 billion, down 0.7% from the level as of Dec 31, 2019.
Acadia Healthcare carries a Zacks Rank #3 (Hold), currently.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among other companies in the healthcare sector, the bottom-line results of UnitedHealth Group Inc. (UNH - Free Report) , Anthem Inc. and Humana Inc. (HUM - Free Report) beat estimates by 37.45%, 4.9% and 21.47%, respectively.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>