Acadia Healthcare, a behavioral healthcare provider, has released its first quarter financial results.
Here are highlights to know, according to an April 26 news release:
- Revenue totaled $704.3 million, an increase of 14.2 percent compared to the first quarter of 2022.
- Same facility revenue increased 13.3 percent compared with the first quarter of 2022, including an increase in patient days of 6.5 percent and an increase in revenue per patient day of 6.4 percent.
- Net 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.
- Adjusted earnings before interest, taxes, depreciation and amortization totaled $151.3 million, an increase of 11.6 percent over the first quarter of 2022.
- Accelerated growth trajectory is on track, including the addition of 106 beds to the Acadia's existing facilities in the first quarter and continued progress toward opening four new inpatient facilities and at least six comprehensive treatments centers in 2023.
Acadia's financial guidance ranges for 2023:
- Revenue: $2.82 billion to $2.88 billion
- Adjusted EBITDA: $635 million to $675 million
- Adjusted earnings per diluted share: $3.10 to $3.40
- Interest expense: $80 million to $85 million
- Tax rate: 25 percent to 26 percent
- Depreciation and amortization expense: $125 million to $135 million
- Stock compensation expense: $30 million to $35 million
- Operating cash flows: $450 million to $500 million
- Expansion capital expenditures: $350 million to $400 million
- Maintenance capital expenditures: $40 million to $50 million
- IT capital expenditures: $35 million to $45 million