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Acadia Healthcare Q4 Earnings Miss on Reduced Length of Stay
ACHCAcadia Healthcare(ACHC) ZACKS·2025-02-28 18:41

Core Viewpoint - Acadia Healthcare Company, Inc. reported weaker-than-expected fourth-quarter earnings, with adjusted EPS of 64 cents, missing the Zacks Consensus Estimate by 11.1% and declining 24.7% year over year [1][2] Financial Performance - Total revenues for the fourth quarter increased by 4.2% year over year to 774.2million,butfellshortofconsensusestimates[2]−Same−facilityrevenuesreached774.2 million, but fell short of consensus estimates [2] - Same-facility revenues reached 765 million, a 4.7% year-over-year increase, but also missed the estimate of 796.7million[4]−AdjustedEBITDAdecreasedby9.7796.7 million [4] - Adjusted EBITDA decreased by 9.7% year over year to 153.1 million, below the estimate of 179.2million,withamargindeclineof300basispointsto19.8179.2 million, with a margin decline of 300 basis points to 19.8% [5] Operational Metrics - Patient days improved by 2.5% year over year, while admissions grew by 2.9% [5] - Revenue per patient day increased by 1.7% year over year, lower than the growth estimate of 3.7% [5] - The average length of stay declined by 0.4% year over year, missing the growth estimate of 2.5% [5] Expense Overview - Total expenses rose by 11.1% year over year to 736.2 million, exceeding the estimate of 703.3million,drivenbyhighersalaries,wages,benefits,andoperatingexpenses[6]BalanceSheetandCashFlow−AsofDecember31,2024,cashandcashequivalentswere703.3 million, driven by higher salaries, wages, benefits, and operating expenses [6] Balance Sheet and Cash Flow - As of December 31, 2024, cash and cash equivalents were 76.3 million, down 23.8% from the previous year [7] - Total assets increased by 9.5% to 6billion,whilelong−termdebtroseby11.26 billion, while long-term debt rose by 11.2% to 1.9 billion [8] - Net cash provided by operations totaled 129.7million,significantlylowerthan129.7 million, significantly lower than 462.3 million in the prior year [8] Full Year Update - For the full year 2024, revenues rose by 7.7%, while adjusted EPS declined by 5.4% to 3.30[9]Guidancefor2025−Projectedrevenuesforthefirstquarterof2025arebetween3.30 [9] Guidance for 2025 - Projected revenues for the first quarter of 2025 are between 765 million and 775million,withadjustedEBITDAestimatedat775 million, with adjusted EBITDA estimated at 130-135million[10]−Full−year2025revenueguidanceisbetween135 million [10] - Full-year 2025 revenue guidance is between 3.3 billion and 3.4billion,indicatinga6.23.4 billion, indicating a 6.2% improvement from 2024 [10] - Adjusted EPS is expected to be between 2.50 and $2.80 [11]