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Acadia Healthcare Reports First Quarter 2022 Results
FRANKLIN, Tenn.--(BUSINESS WIRE)-- Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced financial results for the first quarter ended March 31,
About this update from Acadia Healthcare Company, Inc.
[{"type":"text","content":" FRANKLIN, Tenn.--(BUSINESS WIRE)--\nAcadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced financial results for the first quarter ended March 31, 2022.\n\nFirst Quarter Highlights\n\n\nRevenue totaled $616.7 million, an increase of 11.9% over the first quarter of 2021\n\n\nSame facility revenue increased 8.6% compared to the first quarter of 2021, including an increase in revenue per patient day of 6.2% and an increase in patient days of 2.2%\n\n\nNet income attributable to Acadia totaled $60.8 million, or $0.67 per diluted share, and adjusted income from continuing operations attributable to Acadia stockholders totaled $61.2 million, or $0.67 per diluted share.\n\n\nAdjusted EBITDA totaled $135.5 million\n\n\nCash flows from operating activities totaled $76.8 million\n\n\nFirst Quarter Results\n\nThe Company reported revenue of $616.7 million for the first quarter of 2022, compared with $551.2 million for the first quarter of 2021. Adjusted EBITDA was $135.5 million for the first quarter of 2022, compared with $119.5 million for the same period last year.\n\nNet income attributable to Acadia stockholders for the first quarter of 2022 was $60.8 million, or $0.67 per diluted share. Adjusted income from continuing operations attributable to Acadia stockholders was $0.67 per diluted share for the first quarter of 2022. Adjustments to income include transaction-related expenses and the income tax effect of adjustments to income. A reconciliation of all non-GAAP financial results in this press release begins on page 9.\n\nFor the first quarter of 2022, Acadia’s same facility revenue increased 8.6% compared with the first quarter of 2021, including an increase in revenue per patient day of 6.2% and an increase in patient days of 2.2%.\n\nChris Hunter, Chief Executive Officer of Acadia Healthcare Company, remarked, “Acadia produced solid financial and operating results for the first quarter of 2022, marking a strong start to the year. While we faced some early challenges in January related to the surge of the Omicron variant of COVID-19, our operating trends recovered with meaningful improvement in February and March. Our facilities have managed well through each stage of the pandemic, with strict protocols in place to ensure high standards of safety for our patients with minimal disruptions to our operations, all while navig...