Acadia Healthcare Reports Q2 Results with Flat Revenue and Adjusted EBITDA
Acadia Healthcare (NASDAQ:ACHC) reported second-quarter revenue of $866 million, flat year over year. Excluding the impact of supplemental payment programs, revenue grew 2.8%, while same-facility revenue increased by 3.2%. The company added more than 300 beds in the first half and is on track to add between 500–600 beds this year. Acadia generated $124 million in free cash flow during Q2, repaying $113 million of debt, which brought its net leverage down to approximately 4.1 times adjusted EBITDA. The company updated its full-year outlook for revenue between $3.4 billion and $3.45 billion and adjusted EBITDA between $590 million and $615 million. Adjusted EBITDA was reported at $149.2 million, slightly below guidance due to a $28.6 million actuarial adjustment for liability reserves offset by Florida supplemental payments.
Topics: ebitda free_cash_flow healthcare revenue_growth