Acadia Healthcare Company, Inc. ( (ACHC) ) has released its Q3 earnings. Here is a breakdown of the information Acadia Healthcare Company, Inc. presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Acadia Healthcare Company, Inc. is a leading provider of behavioral healthcare services in the United States, operating a network of facilities offering inpatient psychiatric care, specialty treatments, residential treatment centers, and outpatient clinics. The company announced strong financial results for the third quarter of 2024, with significant increases in revenue and net income compared to the same period last year. The revenue for the third quarter reached $815.6 million, marking an 8.7% increase from the previous year, while net income attributable to Acadia was $68.1 million, translating to $0.74 per diluted share. Adjusted EBITDA also saw a notable rise of 10.5%, reaching $194.3 million. Acadia continues to expand its facilities, adding new beds and treatment centers, which supports its long-term growth strategy. The company added 15 beds and five new Comprehensive Treatment Centers (CTCs) during the quarter and plans to open up to 14 new CTCs and 1,200 new beds by the year’s end. Looking ahead, Acadia Healthcare remains focused on its growth strategy, aiming to provide quality patient care while enhancing value for its stockholders. The management’s updated financial guidance for 2024 reflects continued optimism, despite the closure of two facilities during the quarter.
