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Acadia Healthcare Q2 Earnings Beat Estimates on Higher Admissions
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Key Takeaways
Acadia Healthcare beat Q2 earnings and revenue estimates despite lower profit and a slight revenue decline.
ACHC raised 2026 revenue, adjusted EBITDA, EPS and operating cash flow guidance while lowering capex.
Acadia Healthcare saw higher admissions and added 240 licensed beds, despite lower revenue per patient day.
Acadia Healthcare Company, Inc. (ACHC - Free Report) reported adjusted second-quarter earnings of 38 cents per share, which beat the Zacks Consensus Estimate by 15.2%. However, the bottom line declined 54% year over year.
Total revenues declined 0.4% year over year to $865.8 million. The top line surpassed the Zacks Consensus Estimate by 2.5%.
The better-than-expected quarterly results reflected strong patient demand, as admissions increased and same-facility patient days improved. Residential Treatment Facilities also delivered double-digit revenue growth. However, lower revenue per patient day, a shorter average length of stay and higher operating expenses weighed on profitability.
Acadia Healthcare Company, Inc. Price, Consensus and EPS Surprise
Acute Inpatient Psychiatric Facilities revenues totaled $494.6 million, which remained flat year over year but beat the Zacks Consensus Estimate by 4.3%.
Specialty Treatment Facilities' revenues declined 8.4% year over year to $133.5 million. Comprehensive Treatment Facilities revenues amounted to $141.2 million, flat year over year. Residential Treatment Facilities revenues increased 11.6% to $96.5 million.
Same-facility revenues of $856.4 million edged down 0.1% year over year but beat the Zacks Consensus Estimate by 3.6%. Patient days increased 0.8%, while revenue per patient day declined 0.8%. Admissions grew 6.4% year over year. The average length of stay decreased 5.3% year over year and missed the consensus estimate by 3.2%.
Overall facility patient days remained flat year over year, while admissions increased 6.3%. Revenue per patient day declined 0.4% year over year, and the average length of stay decreased 5.9%.
Total operating expenses increased 7.3% year over year to $727.6 million, primarily due to higher salaries, wages and benefits, professional fees, supplies and other operating expenses.
Total adjusted EBITDA declined 26% year over year to $149.2 million.
During the quarter, the company added 240 licensed beds from newly constructed facilities.
ACHC’s Q2 Financial Update
Acadia Healthcare exited the second quarter with cash and cash equivalents of $171.3 million, which increased from the 2025-end level of $133.2 million. It had remaining borrowing capacity of $669.8 million under its $1 billion revolving credit facility at the end of the second quarter.
Total assets of $5.5 billion increased 0.3% from the 2025-end figure.
Long-term debt amounted to $2.4 billion, which declined from $2.5 billion as of Dec. 31, 2025. The current portion of long-term debt was $32.5 million.
Total equity of $2 billion increased from the 2025-end level of $1.9 billion.
Net cash provided by operating activities totaled $223.6 million in the first six months of 2026 compared with $145.0 million in the prior-year period.
Acadia Healthcare’s Share Repurchase Update
The company did not buy back shares in the second quarter of 2026.
Acadia Healthcare’s Revised 2026 Outlook
Acadia Healthcare updated its 2026 guidance. The company now expects revenues to be in the range of $3.40-$3.45 billion compared with the previous guidance of $3.37-$3.45 billion. Adjusted EBITDA is now projected to be in the band of $590-$615 million compared with the previous outlook of $580-$615 million. Adjusted EPS is now expected to be $1.45-$1.60 compared with the earlier guidance of $1.35-$1.60.
Management also raised its operating cash flow forecast to $350-$400 million from $285-$325 million. Capital expenditures are now expected to be $235-$255 million, down from the prior guidance of $255-$280 million.
Management previously guided for the addition of 400-600 licensed beds in 2026.
Here are some stocks from the broader Medical space that have also reported their quarterly results: Tenet Healthcare Corporation (THC - Free Report) , UnitedHealth Group Incorporated (UNH - Free Report) and Universal Health Services, Inc. (UHS - Free Report) . Here's how they have performed:
Tenet Healthcare reported second-quarter 2026 adjusted earnings per share of $6.12, which surpassed the Zacks Consensus Estimate by 50%. The bottom line increased 52.2% year over year. THC’s net operating revenues advanced 6.8% year over year to $5.63 billion. The top line surpassed the consensus mark by 4.4%. The quarterly results were driven by strong same-facility revenue growth, higher patient acuity, disciplined expense management and higher Medicaid supplemental revenues. However, the gains were partly offset by an unfavorable payer mix due to lower exchange admissions.
UnitedHealth Group reported second-quarter 2026 adjusted earnings per share of $6.38, which beat the Zacks Consensus Estimate of $4.94. The bottom line rose 56.4% year over year. Revenues rose 0.4% year over year to $112 billion. The top line beat the consensus mark by 1.7%. UNH’s strong quarterly results were aided by growth in commercial fee-based membership and the strength in Optum Insight. Medical cost management, pricing discipline and benefit design changes also contributed to the upside. However, weaker performance at Optum Health and Optum Rx, along with declining risk-based membership, partially offset these gains.
Universal Health Services reported second-quarter 2026 adjusted earnings per share of $5.98, which beat the Zacks Consensus Estimate by 5.7%. The bottom line rose 10.1% year over year. Net revenues of $4.6 billion improved 8.3% year over year. The top line beat the consensus mark by 2.6%. UHS’ strong quarterly results were driven by healthy revenue growth across both the Acute Care and Behavioral Health segments. Higher adjusted admissions, increased patient days and improved unit revenues on a same-facility basis supported performance in both businesses. However, the upside was partly offset by elevated operating costs.
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Acadia Healthcare Q2 Earnings Beat Estimates on Higher Admissions
Key Takeaways
Acadia Healthcare Company, Inc. (ACHC - Free Report) reported adjusted second-quarter earnings of 38 cents per share, which beat the Zacks Consensus Estimate by 15.2%. However, the bottom line declined 54% year over year.
Total revenues declined 0.4% year over year to $865.8 million. The top line surpassed the Zacks Consensus Estimate by 2.5%.
The better-than-expected quarterly results reflected strong patient demand, as admissions increased and same-facility patient days improved. Residential Treatment Facilities also delivered double-digit revenue growth. However, lower revenue per patient day, a shorter average length of stay and higher operating expenses weighed on profitability.
Acadia Healthcare Company, Inc. Price, Consensus and EPS Surprise
Acadia Healthcare Company, Inc. price-consensus-eps-surprise-chart | Acadia Healthcare Company, Inc. Quote
ACHC’s Q2 Operations
Acute Inpatient Psychiatric Facilities revenues totaled $494.6 million, which remained flat year over year but beat the Zacks Consensus Estimate by 4.3%.
Specialty Treatment Facilities' revenues declined 8.4% year over year to $133.5 million. Comprehensive Treatment Facilities revenues amounted to $141.2 million, flat year over year. Residential Treatment Facilities revenues increased 11.6% to $96.5 million.
Same-facility revenues of $856.4 million edged down 0.1% year over year but beat the Zacks Consensus Estimate by 3.6%. Patient days increased 0.8%, while revenue per patient day declined 0.8%. Admissions grew 6.4% year over year. The average length of stay decreased 5.3% year over year and missed the consensus estimate by 3.2%.
Overall facility patient days remained flat year over year, while admissions increased 6.3%. Revenue per patient day declined 0.4% year over year, and the average length of stay decreased 5.9%.
Total operating expenses increased 7.3% year over year to $727.6 million, primarily due to higher salaries, wages and benefits, professional fees, supplies and other operating expenses.
Total adjusted EBITDA declined 26% year over year to $149.2 million.
During the quarter, the company added 240 licensed beds from newly constructed facilities.
ACHC’s Q2 Financial Update
Acadia Healthcare exited the second quarter with cash and cash equivalents of $171.3 million, which increased from the 2025-end level of $133.2 million. It had remaining borrowing capacity of $669.8 million under its $1 billion revolving credit facility at the end of the second quarter.
Total assets of $5.5 billion increased 0.3% from the 2025-end figure.
Long-term debt amounted to $2.4 billion, which declined from $2.5 billion as of Dec. 31, 2025. The current portion of long-term debt was $32.5 million.
Total equity of $2 billion increased from the 2025-end level of $1.9 billion.
Net cash provided by operating activities totaled $223.6 million in the first six months of 2026 compared with $145.0 million in the prior-year period.
Acadia Healthcare’s Share Repurchase Update
The company did not buy back shares in the second quarter of 2026.
Acadia Healthcare’s Revised 2026 Outlook
Acadia Healthcare updated its 2026 guidance. The company now expects revenues to be in the range of $3.40-$3.45 billion compared with the previous guidance of $3.37-$3.45 billion. Adjusted EBITDA is now projected to be in the band of $590-$615 million compared with the previous outlook of $580-$615 million. Adjusted EPS is now expected to be $1.45-$1.60 compared with the earlier guidance of $1.35-$1.60.
Management also raised its operating cash flow forecast to $350-$400 million from $285-$325 million. Capital expenditures are now expected to be $235-$255 million, down from the prior guidance of $255-$280 million.
Management previously guided for the addition of 400-600 licensed beds in 2026.
ACHC’s Zacks Rank
Acadia Healthcare currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
How Did Other Medical Companies Perform?
Here are some stocks from the broader Medical space that have also reported their quarterly results: Tenet Healthcare Corporation (THC - Free Report) , UnitedHealth Group Incorporated (UNH - Free Report) and Universal Health Services, Inc. (UHS - Free Report) . Here's how they have performed:
Tenet Healthcare reported second-quarter 2026 adjusted earnings per share of $6.12, which surpassed the Zacks Consensus Estimate by 50%. The bottom line increased 52.2% year over year. THC’s net operating revenues advanced 6.8% year over year to $5.63 billion. The top line surpassed the consensus mark by 4.4%. The quarterly results were driven by strong same-facility revenue growth, higher patient acuity, disciplined expense management and higher Medicaid supplemental revenues. However, the gains were partly offset by an unfavorable payer mix due to lower exchange admissions.
UnitedHealth Group reported second-quarter 2026 adjusted earnings per share of $6.38, which beat the Zacks Consensus Estimate of $4.94. The bottom line rose 56.4% year over year. Revenues rose 0.4% year over year to $112 billion. The top line beat the consensus mark by 1.7%. UNH’s strong quarterly results were aided by growth in commercial fee-based membership and the strength in Optum Insight. Medical cost management, pricing discipline and benefit design changes also contributed to the upside. However, weaker performance at Optum Health and Optum Rx, along with declining risk-based membership, partially offset these gains.
Universal Health Services reported second-quarter 2026 adjusted earnings per share of $5.98, which beat the Zacks Consensus Estimate by 5.7%. The bottom line rose 10.1% year over year. Net revenues of $4.6 billion improved 8.3% year over year. The top line beat the consensus mark by 2.6%. UHS’ strong quarterly results were driven by healthy revenue growth across both the Acute Care and Behavioral Health segments. Higher adjusted admissions, increased patient days and improved unit revenues on a same-facility basis supported performance in both businesses. However, the upside was partly offset by elevated operating costs.