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Acadia Healthcare Reports First Quarter 2023 Results
Company Affirms Full Year 2023 Guidance FRANKLIN, Tenn.--(BUSINESS WIRE)-- Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced financial results
About this update from Acadia Healthcare Company, Inc.
[{"type":"text","content":"\nCompany Affirms Full Year 2023 Guidance\n\n\n FRANKLIN, Tenn.--(BUSINESS WIRE)--\nAcadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced financial results for the first quarter ended March 31, 2023.\n\n\nFirst Quarter Highlights\n\n\n\nRevenue totaled $704.3 million, an increase of 14.2% over the first quarter of 2022\n\n\n\nSame facility revenue increased 13.3% compared with the first quarter of 2022, including an increase in patient days of 6.5% and an increase in revenue per patient day of 6.4%\n\n\n\nNet income attributable to Acadia totaled $66.0 million, or $0.72 per diluted share, and adjusted income from continuing operations attributable to Acadia stockholders totaled $68.7 million, or $0.75 per diluted share\n\n\n\nAdjusted EBITDA totaled $151.3 million, an increase of 11.6% over the first quarter of 2022\n\n\n\nAccelerated growth trajectory is on track, including the addition of 106 beds to the Company’s existing facilities in the first quarter and continued progress towards opening four new inpatient facilities and at least six comprehensive treatments centers (CTCs) in 2023\n\n\n\nFirst Quarter Results\n\n\nThe Company reported revenue of $704.3 million for the first quarter of 2023, compared with $616.7 million for the first quarter of 2022. Adjusted EBITDA was $151.3 million for the first quarter of 2023, compared with $135.5 million for the first quarter of 2022.\n\n\nNet income attributable to Acadia stockholders for the first quarter of 2023 was $66.0 million, or $0.72 per diluted share. Adjusted income from continuing operations attributable to Acadia stockholders was $68.7 million, or $0.75 per diluted share, for the first quarter of 2023. 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\n\nFor the first quarter of 2023, Acadia’s same facility revenue increased 13.3% compared with the first quarter of 2022, including an increase in patient days of 6.5% and an increase in revenue per patient day of 6.4%.\n\n\nChris Hunter, Chief Executive Officer of Acadia Healthcare Company, remarked, “We are pleased to report a strong start to 2023 for Acadia. With solid execution, we delivered favorable results on our key performance metrics for the first quarte...