Acadia Healthcare: 3Q Earnings Snapshot
FRANKLIN, Tenn. (AP) _ Acadia Healthcare Co. (ACHC) on Thursday reported third-quarter profit of $37 million.
On a per-share basis, the Franklin, Tennessee-based company said it had profit of 42 cents. Earnings, adjusted for one-time gains and costs, were 68 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The provider of inpatient behavioral health care services posted revenue of $833.3 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $800.2 million.
For the current quarter ending in December, Acadia Healthcare expects its per-share earnings to range from 68 cents to 72 cents.
The company said it expects revenue in the range of $810 million to $835 million for the fiscal fourth quarter.
Acadia Healthcare shares have dropped 13% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $28.98, a decline of almost 6% in the last 12 months.