Yahoo Finance 
Yahoo Finance Plus Acadia Healthcare (ACHC) Q3 Earnings Meet Estimates, Rise Y/Y
Acadia Healthcare Company, Inc. ACHC 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%.
Acadia Healthcare Company, Inc. Price, Consensus and EPS Surprise
Acadia Healthcare Company, Inc. price-consensus-eps-surprise-chart | Acadia Healthcare Company, Inc. Quote
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. ANTM, HCA Healthcare, Inc. HCA and Universal Health Services, Inc. UHS beat the respective Zacks Consensus Estimate.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Universal Health Services, Inc. (UHS) : Free Stock Analysis Report
HCA Healthcare, Inc. (HCA) : Free Stock Analysis Report
Acadia Healthcare Company, Inc. (ACHC) : Free Stock Analysis Report
Anthem, Inc. (ANTM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
