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Why Is Acadia Healthcare (ACHC) Up 7% Since Last Earnings Report?
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A month has gone by since the last earnings report for Acadia Healthcare (ACHC - Free Report) . Shares have added about 7% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Acadia Healthcare due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts.
Acadia Healthcare Q4 Earnings Beat Estimates on Rising Admissions
Acadia Healthcare reported adjusted fourth-quarter earnings of 7 cents per share, which beat the Zacks Consensus Estimate of 3 cents. However, the bottom line declined 89% year over year.
Total revenues increased 6.1% year over year to $821.5 million. The top line beat the consensus mark of $799 million.
The better-than-expected quarterly results were driven by increased patient days and revenues per patient day, and higher admissions, which were partially offset by lower average length of stay and higher expenses.
ACHC’s Q4 Operations
Same-facility revenues of $792.7 million rose 4.4% year over year and beat the Zacks Consensus Estimate by 0.4%. The year-over-year improvement was driven by a 3.1% increase in patient days. Admissions grew 2.5% year over year. The average length of stay rose 0.6% year over year and beat the consensus estimate by 0.6%. Revenue per patient day increased 1.3% year over year.
In the overall facility, patient days improved 4.5% year over year, while admissions grew 7.2%. Revenue per patient day increased 1.5% year over year. The average length of stay declined 2.5% year over year.
Total expenses of $2 billion rose from $736.2 million in the prior-year period due to higher salaries, wages and benefits, other operating expenses, supply costs and transaction and legal fees.
Total adjusted EBITDA declined 34.8% year over year to $99.8 million.
Financial Update (as of Dec. 31, 2025)
Acadia Healthcare exited the fourth quarter with cash and cash equivalents of $133.2 million, which increased from $76.3 million at the 2024-end level. It had a leftover capacity of $595 million under its $1 billion revolving credit facility at the fourth-quarter end.
Total assets of $5.5 billion decreased from $6 billion at the end of 2024.
Long-term debt amounted to $2.5 billion, which rose from $1.9 billion as of Dec. 31, 2024. The current portion of long-term debt was $28.4 million.
Total equity of $1.9 billion decreased from the 2024-end level of $3.1 billion.
Net cash provided by operations totaled $131.9 million in 2025 compared with $129.7 million in the prior-year comparable period.
Acadia Healthcare’s Share Repurchase Update
The company bought back shares worth around $50 million in 2025.
ACHC’s Full-Year 2025 Update
Revenues rose 5% year over year in 2025. Adjusted EPS of $2 per share in 2025 declined year over year from $3.30.
Q1 Guidance by ACHC
For the first quarter of 2026, revenues are projected to be between $820 million and $830 million.
Adjusted EBITDA is estimated to be in the range of $130-$137 million.
Acadia Healthcare’s 2026 Outlook
Revenues are projected to be in the range of $3.37 to $3.45 billion. Adjusted EBITDA is estimated to be in the range of $575 to $610 million. Adjusted earnings per share (EPS) are predicted to be between $1.30 and $1.55.
Operating cash flows are forecasted in the range of $280 to $320 million. Expansion capital expenditure is expected to be between $140 million and $155 million. Maintenance and IT capital expenditures are expected to be in the range of $115-$125 million.
Management estimates bed additions between 400 and 600 in 2026.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
VGM Scores
At this time, Acadia Healthcare has a poor Growth Score of F, a score with the same score on the momentum front. However, the stock has a score of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions looks promising. Interestingly, Acadia Healthcare has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Why Is Acadia Healthcare (ACHC) Up 7% Since Last Earnings Report?
A month has gone by since the last earnings report for Acadia Healthcare (ACHC - Free Report) . Shares have added about 7% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Acadia Healthcare due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the latest earnings report in order to get a better handle on the important catalysts.
Acadia Healthcare Q4 Earnings Beat Estimates on Rising Admissions
Acadia Healthcare reported adjusted fourth-quarter earnings of 7 cents per share, which beat the Zacks Consensus Estimate of 3 cents. However, the bottom line declined 89% year over year.
Total revenues increased 6.1% year over year to $821.5 million. The top line beat the consensus mark of $799 million.
The better-than-expected quarterly results were driven by increased patient days and revenues per patient day, and higher admissions, which were partially offset by lower average length of stay and higher expenses.
ACHC’s Q4 Operations
Same-facility revenues of $792.7 million rose 4.4% year over year and beat the Zacks Consensus Estimate by 0.4%. The year-over-year improvement was driven by a 3.1% increase in patient days. Admissions grew 2.5% year over year. The average length of stay rose 0.6% year over year and beat the consensus estimate by 0.6%. Revenue per patient day increased 1.3% year over year.
In the overall facility, patient days improved 4.5% year over year, while admissions grew 7.2%. Revenue per patient day increased 1.5% year over year. The average length of stay declined 2.5% year over year.
Total expenses of $2 billion rose from $736.2 million in the prior-year period due to higher salaries, wages and benefits, other operating expenses, supply costs and transaction and legal fees.
Total adjusted EBITDA declined 34.8% year over year to $99.8 million.
Financial Update (as of Dec. 31, 2025)
Acadia Healthcare exited the fourth quarter with cash and cash equivalents of $133.2 million, which increased from $76.3 million at the 2024-end level. It had a leftover capacity of $595 million under its $1 billion revolving credit facility at the fourth-quarter end.
Total assets of $5.5 billion decreased from $6 billion at the end of 2024.
Long-term debt amounted to $2.5 billion, which rose from $1.9 billion as of Dec. 31, 2024. The current portion of long-term debt was $28.4 million.
Total equity of $1.9 billion decreased from the 2024-end level of $3.1 billion.
Net cash provided by operations totaled $131.9 million in 2025 compared with $129.7 million in the prior-year comparable period.
Acadia Healthcare’s Share Repurchase Update
The company bought back shares worth around $50 million in 2025.
ACHC’s Full-Year 2025 Update
Revenues rose 5% year over year in 2025. Adjusted EPS of $2 per share in 2025 declined year over year from $3.30.
Q1 Guidance by ACHC
For the first quarter of 2026, revenues are projected to be between $820 million and $830 million.
Adjusted EBITDA is estimated to be in the range of $130-$137 million.
Acadia Healthcare’s 2026 Outlook
Revenues are projected to be in the range of $3.37 to $3.45 billion. Adjusted EBITDA is estimated to be in the range of $575 to $610 million. Adjusted earnings per share (EPS) are predicted to be between $1.30 and $1.55.
Operating cash flows are forecasted in the range of $280 to $320 million. Expansion capital expenditure is expected to be between $140 million and $155 million. Maintenance and IT capital expenditures are expected to be in the range of $115-$125 million.
Management estimates bed additions between 400 and 600 in 2026.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision have trended downward during the past month.
VGM Scores
At this time, Acadia Healthcare has a poor Growth Score of F, a score with the same score on the momentum front. However, the stock has a score of B on the value side, putting it in the second quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions looks promising. Interestingly, Acadia Healthcare has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.