Business
Acadia Healthcare Reports Fourth Quarter 2024 Results
Company Provides Full Year and First Quarter 2025 Guidance, Announces $300 Million Share Repurchase Authorization FRANKLIN, Tenn.--(BUSINESS WIRE)-- Acadia
About this update from Acadia Healthcare Company, Inc.
[{"type":"text","content":"\nCompany Provides Full Year and First Quarter 2025 Guidance, Announces $300 Million Share Repurchase Authorization\n\n\n FRANKLIN, Tenn.--(BUSINESS WIRE)--\nAcadia Healthcare Company, Inc. (“Acadia” or the “Company”) (NASDAQ: ACHC) today announced financial results for the fourth quarter and year ended December 31, 2024.\n\n\nFourth Quarter 2024 Highlights\n\n\n\nRevenue totaled $774.2 million, an increase of 4.2% over the fourth quarter of 2023.\n\n\n\nSame facility revenue increased 4.7% compared with the fourth quarter of 2023, including an increase in patient days of 3.2% and an increase in revenue per patient day of 1.4%.\n\n\n\nNet income attributable to Acadia totaled $32.6 million, or $0.35 per diluted share.\n\n\n\nAdjusted income attributable to Acadia totaled $59.2 million, or $0.64 per diluted share.\n\n\n\nAdjusted EBITDA totaled $153.1 million, including a $14.3 million professional liability reserve adjustment related to years prior to 2024, and a $5.0 million impact related to the decision to close one facility during the fourth quarter.\n\n\n\nAdded 577 newly licensed beds during the fourth quarter, including 233 beds to existing facilities and 344 licensed beds from newly constructed facilities.\n\n\n\nCompleted construction on approximately 1,100 beds in the fourth quarter, bringing the full year total to approximately 1,300 newly constructed beds. Total startup losses related to new facilities incurred in the fourth quarter were $11.2 million.\n\n\n\nAnnounced new $300 million share repurchase authorization.\n\n\n\nAdjusted income attributable to Acadia and Adjusted EBITDA are non-GAAP financial measures. A reconciliation of all non-GAAP financial measures in this press release begins on page 9.\n\n\nFourth Quarter Results\n\n\nChris Hunter, Chief Executive Officer of Acadia, remarked, “Our fourth quarter financial and operating results capped off a year of solid growth and progress for Acadia. The continued momentum in our business allowed us to achieve record annual revenue of $3.2 billion. These results reflect the robust demand for our behavioral healthcare services and our ability to expand our capacity and meet this demand across the care continuum. In 2024, we had our largest bed expansion year in Acadia history, allowing us to reach more patients and communities. With our expanding scale and diverse ...