Acadia Healthcare Reports Third Quarter Financial Results Consistent With Previously Announced Preliminary Financial Results

Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced financial results for the third quarter and nine months ended September 30, 2016. Revenue for the quarter was $734.7 million, an increase of 53.1% from $479.7 million for the third quarter of 2015. Loss from continuing operations attributable to Acadia stockholders was $117.8 million, or $1.36 per diluted share, compared with income from continuing operations of $29.5 million, or $0.42 per diluted share, for the third quarter of 2015. Results for the third quarter of 2016 include a loss on the planned U.K. divestiture of approximately $174.7 million, which includes an allocation of the goodwill related to the U.K. operations to the facilities held for sale of $106.9 million, estimated transaction-related expenses of $25.6 million, and a loss on the sale of properties of $42.2 million. Adjusted income from continuing operations attributable to Acadia stockholders grew 13.7% to $49.9 million for the third quarter of 2016 from $43.9 million for the third quarter of 2015, and adjusted EPS was $0.58, a 6.5% decrease from $0.62. Weighted average diluted shares outstanding increased 22.0% for the third quarter of 2016 from the third quarter of 2015, primarily due to the issuance of common stock in January and February 2016 related to the acquisition of Priory Group. A reconciliation of all non-GAAP financial results in this release appears beginning on page 8.

For the first nine months of 2016, revenue was $2.1 billion, up 62.3% from $1.3 billion for the first nine months of 2015. Loss from continuing operations attributable to Acadia stockholders for the first nine months of 2016 was $35.7 million, or $0.42 per diluted share, compared with income from continuing operations of $78.0 million, or $1.15 per diluted share, for the same period in 2015. Adjusted income from continuing operations attributable to Acadia stockholders was $158.9 million for the first nine months of 2016, an increase of 43.9% from $110.5 million for the comparable period in 2015, and adjusted EPS increased 13.4% to $1.86 from $1.64. Weighted average diluted shares outstanding increased 26.8% for the first nine months of 2016 from the first nine months of 2015.

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