Acadia Healthcare: 2Q Earnings Snapshot
FRANKLIN, Tenn. (AP) _ Acadia Healthcare Co. (ACHC) on Tuesday reported second-quarter earnings of $48.1 million.
The Franklin, Tennessee-based company said it had profit of 55 cents per share. Earnings, adjusted for non-recurring costs and pretax expenses, came to 61 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The provider of inpatient behavioral health care services posted revenue of $789.4 million in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $798 million.
Acadia Healthcare expects full-year earnings in the range of $2.15 to $2.23 per share, with revenue in the range of $3.15 billion to $3.18 billion.
Acadia Healthcare shares have risen 28% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $32.89, a fall of 24% in the last 12 months.