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Acadia Healthcare (ACHC) Q2 Earnings Top Estimates, Fall Y/Y

Acadia Healthcare Company, Inc.’s ACHC second-quarter 2020 earnings of 54 cents per share beat the Zacks Consensus Estimate by 42.11%. However, the bottom line was down 11.5% year over year.

Further, the company’s revenues of $750.3 million missed the Zacks Consensus Estimate by 0.54% and also dipped 5% year over year.

Total same facility revenues slipped 3.5% to $727 million due to 2.3% decrease in patient days and a 1.2% decline in revenue per patient day.

Consolidated adjusted EBITDA was $144.4 million, down 9.1% year over year.

Consolidated EBITDA margin on same facility basis was 23.3%, contracting 60 basis points year over year.

Total expenses slid 4% year over year to $700.4 million on the back of lower salaries and wages, professional fees plus supplies and other operating expenses.

During the first half of 2020, the company added 106 beds to its U.S. operations. In mid-July, it announced the opening of its 144-bed behavioral health facility.

Acadia Healthcare Company, Inc. Price, Consensus and EPS Surprise Acadia Healthcare Company, Inc. Price, Consensus and EPS Surprise

Acadia Healthcare Company, Inc. price-consensus-eps-surprise-chart | Acadia Healthcare Company, Inc. Quote

Segmental Details

U.S. same facility revenues were down 3.4% year over year to $501.2 million.

The segment also recorded a 0.7% year-over-year decrease in patient days and a 2.7% decline in revenue per patient day.

U.K. same facility revenues were down 3.8% year over year to $249.3 million. The number of patient days slid 4.5% from the year-earlier period whereas revenue per patient per day inched up 0.7%.

Financial Update (as of Jun 30, 2020)

Cash and cash equivalents were $212 million, down 34.8% from the level on Dec 31, 2019.

Long-term debt was $3.08 billion, down 0.9% from the figure as of Dec 31, 2019.

Net cash provided by operating activities for the six months ended Jun 30, 2020 was $264.9 million, up 106% year over year.

The company exited the quarter with total assets worth $6.8 billion, down 0.7% from the level as of Dec 31, 2019.

Acadia Healthcare carries a Zacks Rank #3 (Hold), currently.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other companies in the healthcare sector, the bottom-line results of UnitedHealth Group Inc. UNH, Anthem Inc. ANTM and Humana Inc. HUM  beat estimates by 37.45%, 4.9% and 21.47%, respectively.

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