Acadia Healthcare Q2 revenue beats in inpatient growth but costs bite

Overview

• US behavioral healthcare provider's Q2 revenue was flat yr/yr, beating analyst expectations

• Adjusted EBITDA for Q2 slightly beat analyst consensus

• Company added 240 licensed beds from newly constructed facilities in Q2

Outlook

• Acadia Healthcare raises 2026 revenue guidance to $3.40-$3.45 bln from $3.37-$3.45 bln

• Company lifts 2026 adjusted EBITDA forecast to $590-$615 mln from $580-$615 mln

• Acadia Healthcare increases 2026 operating cash flow outlook to $350-$400 mln from $285-$325 mln

Result Drivers

• SUPPLEMENTAL PAYMENT TIMING - Flat revenue and same-facility revenue were impacted by the timing of supplemental payment program revenue in Florida and Tennessee

• HIGHER OPERATING COSTS - Adjusted EBITDA declined due to a $39.3 mln increase in professional and general liability costs, including a $28.6 mln reserve adjustment, and higher salaries and benefits

• VOLUME GROWTH IN ACUTE INPATIENT - Acute inpatient volumes rose 5.5%, driven by expanded capacity from new and existing facilities

Company press release: ID:nBw86FNda

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the healthcare facilities services peer group is "buy"

• Wall Street's median 12-month price target for Acadia Healthcare Company Inc is $31.50, about 3.1% below its July 27 closing price of $32.50

• The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 15 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)