Acadia Healthcare(US:ACHC) ZACKS·2025-02-28 18:41Core Viewpoint - Acadia Healthcare Company, Inc. reported weaker-than-expected fourth-quarter earnings, with adjusted EPS of 64 cents, missing the Zacks Consensus Estimate by 11.1% and declining 24.7% year over year [1][2] Financial Performance - Total revenues for the fourth quarter increased by 4.2% year over year to $774.2 million, but fell short of consensus estimates [2] - Same-facility revenues reached $765 million, a 4.7% year-over-year increase, but also missed the estimate of $796.7 million [4] - Adjusted EBITDA decreased by 9.7% year over year to $153.1 million, below the estimate of $179.2 million, with a margin decline of 300 basis points to 19.8% [5] Operational Metrics - Patient days improved by 2.5% year over year, while admissions grew by 2.9% [5] - Revenue per patient day increased by 1.7% year over year, lower than the growth estimate of 3.7% [5] - The average length of stay declined by 0.4% year over year, missing the growth estimate of 2.5% [5] Expense Overview - Total expenses rose by 11.1% year over year to $736.2 million, exceeding the estimate of $703.3 million, driven by higher salaries, wages, benefits, and operating expenses [6] Balance Sheet and Cash Flow - As of December 31, 2024, cash and cash equivalents were $76.3 million, down 23.8% from the previous year [7] - Total assets increased by 9.5% to $6 billion, while long-term debt rose by 11.2% to $1.9 billion [8] - Net cash provided by operations totaled $129.7 million, significantly lower than $462.3 million in the prior year [8] Full Year Update - For the full year 2024, revenues rose by 7.7%, while adjusted EPS declined by 5.4% to $3.30 [9] Guidance for 2025 - Projected revenues for the first quarter of 2025 are between $765 million and $775 million, with adjusted EBITDA estimated at $130-$135 million [10] - Full-year 2025 revenue guidance is between $3.3 billion and $3.4 billion, indicating a 6.2% improvement from 2024 [10] - Adjusted EPS is expected to be between $2.50 and $2.80 [11]