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Acadia Healthcare (ACHC) Q3 Earnings Meet Estimates, Rise Y/Y

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Acadia Healthcare Company, Inc. (ACHC - Free Report) reported third-quarter 2021 adjusted earnings of 72 cents per share, meeting the Zacks Consensus Estimate. The bottom line improved 6% year over year.

The company’s results highlight higher revenues, driven by solid demand for its behavioral health services and higher admissions.

Revenues at Acadia Healthcare improved 7.2% year over year to $587.6 million in the quarter under review. The top line missed the consensus mark by 0.9%.

Total same facility revenues rose 7.9% year over year on account of a 2.2% improvement in patient days and 5.6% growth in revenue per patient day.
Adjusted EBITDA was up 22.3% year over year to $141.9 million.


Total expenses remained at $502.2 million due to rise in salaries, wages and benefits, professional fees, supplies and other operating expenses.

In the third quarter, the company added 104 beds to its existing operations. It remains well within its target of adding around 300 beds to its existing facilities through 2021 end.

Financial Update (as of Sep 30, 2021)

Cash and cash equivalents of $196.3 million were down 48% from the level recorded on Dec 31, 2020.

Total assets of $4.6 billion plunged 29.8% from the level at 2020 end.

Long-term debt totaled $1.4 billion, which declined 51.4% from the figure as of Dec 31, 2020.

2021 Outlook

Revenues are now estimated between $2.295 billion and $2.315 billion for 2021 compared with the prior guidance of $2.28-$2.32 billion.

Adjusted EBITDA is projected to be $537-$547 million compared with the previous outlook of $530-$550 million.

Adjusted earnings per share are forecast within $2.51-$2.59 compared with the earlier view of $2.50-$2.70.

Operating cash flows are expected to be $290-$325 million compared with the earlier guidance of $275-$310 million.

Zacks Rank

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.

Other Medical Sector Releases

Of the medical sector players that have reported third-quarter results so far, earnings of Anthem, Inc. , HCA Healthcare, Inc. (HCA - Free Report) and Universal Health Services, Inc. (UHS - Free Report) beat the respective Zacks Consensus Estimate.


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