Acadia Healthcare Company Inc (ACHC)

Acadia Healthcare Announces First Quarter 2026 ResultsApril 29, 2026 4:05 PM
Business Wire
Company Increases Full Year 2026 Adjusted EBITDA and Adjusted EPS Guidance


Acadia Healthcare Company, Inc. (“Acadia” or the “Company”) (NASDAQ: ACHC) today announced financial results for the first quarter ended March 31, 2026.


First Quarter 2026 Results



Revenue totaled $828.8 million, a 7.6% increase compared with the first quarter of 2025



Same-facility revenue increased 7.3% compared with the first quarter of 2025, including an increase in revenue per patient day of 5.6% and an increase in patient days of 1.6%



Net income attributable to Acadia totaled $0.05 per diluted share, compared with $0.09 per diluted share in the prior-year period



Adjusted net income attributable to Acadia totaled $33.3 million, or $0.37 per diluted share, compared with $36.9 million, or $0.40 per diluted share, in the prior-year period



Adjusted EBITDA was $144.2 million, compared with $134.2 million in the prior-year period



Added 82 newly licensed beds during the first quarter, including 42 beds to existing facilities and 40 beds from newly constructed facilities



Adjusted net income attributable to Acadia, Adjusted EBITDA and Adjusted earnings per diluted share are non-GAAP financial measures. A reconciliation of all non-GAAP financial measures in this press release begins on page 10.


“The good start to the year reflects disciplined execution throughout Acadia as we provide quality care for individuals seeking treatment for mental health and substance abuse issues,” said Debbie Osteen, Chief Executive Officer of Acadia. “Strong patient volumes across our Acute and RTC businesses, along with continued operating efficiencies across the Company, enabled us to exceed the high end of our Adjusted EBITDA guidance. I am very pleased with how the team has responded in my first few months back as CEO, and we are building on this progress with a clear focus on sustained performance and long-term value.”




First Quarter Financial Summary






 






 












(dollars in millions, except per share amounts)






 






2026






 






2025






 






Change (%)













 



Acute Inpatient Psychiatric Facilities






 






$471






 






$412






 






14%








Specialty Treatment Facilities







$128







$137







(7%)








Comprehensive Treatment Facilities






 






$140






 






$137






 






2%








Residential Treatment Facilities







$90







$85







6%








Total Revenue






 






$829






 






$771






 






8%








Reported Net Income







$4







$9







(56%)








Adjusted EBITDA






 






$144






 






$134






 






7%








Reported EPS







$0.05







$0.09







(44%)








Adjusted EPS






 






$0.37






 






$0.40






 






(8%)







Discussion of First Quarter Results


Acadia reported first quarter revenue of $828.8 million, an increase of 7.6% year-over-year. Same-facility revenue increased 7.3%, driven by a 1.6% increase in patient days and a 5.6% increase in revenue per patient day. A portion of the increase in revenue per patient day reflects supplemental payments received from Tennessee and Ohio that were not included in the prior-year period, but were contemplated in the first-quarter 2026 guidance issued in February. Same-facility admissions increased 6.5% compared with the prior-year period. Facilities closed over the last twelve months represented a 1.5% drag to reported revenue growth in the first quarter.


Acute inpatient psychiatric facility revenue was $470.7 million, an increase of 14% over the prior year’s first quarter. First quarter acute inpatient volumes increased 6.2%, driven primarily by expanded capacity from both newly constructed and existing facilities.


Specialty treatment facility revenue was $128.1 million, a decrease of 6.5% compared with the prior year’s first quarter. The revenue decline was related to Specialty facilities in Pennsylvania and the impact from having closed a number of Specialty facilities after the first quarter of 2025.


Comprehensive treatment facility (“CTC”) revenue was $140.4 million, an increase of 2.5% compared with the prior year’s first quarter. Residential treatment facility (“RTC”) revenue of $89.6 million increased by 6.3% compared to the prior year’s first quarter.


Total operating expenses were $684.6 million for the first quarter of 2026, an increase of $48.3 million, or 7.6%, over the prior year’s first quarter. Total operating expenses included an increase related to the Company’s reserve for PLGL costs of $10.3 million, in line with the Company’s guidance for 2026, and a $6.0 million increase in provider taxes related to state Medicaid supplemental payment programs.


Salaries, wages and benefits increased by 4.9% primarily due to new facility openings, which generally run net loss positions as occupancy builds, as well as routine annual wage increases. On a per-patient-day basis, total salaries, wages and benefits increased by 3.3%. Same-facility salaries, wages and benefits increased by 3.7%. On a per-patient-day basis, same-facility salaries, wages and benefits increased by 2.0%.


Adjusted EBITDA for the quarter was $144.2 million, compared with $134.2 million in the prior-year period with volume growth in Acute and RTC, along with disciplined cost controls driving the increase. The Company’s Adjusted EBITDA was favorably impacted by $3.2 million less in benefit expenses that are expected to reverse in the second half of 2026.


Interest expense was $38 million in the first quarter of 2026, compared with $29 million in the first quarter of 2025. The increase was primarily driven by increased borrowings.


Transaction, legal and other costs were $22 million for the first quarter of 2026, compared with $31 million in the first quarter of 2025. Transaction, legal and other costs include the cost of government investigations, which was $12.4 million for the first quarter of 2026 compared to $31.0 million in the first quarter of 2025.


Development Activity


The Company added 42 beds to existing facilities in the first quarter and added 40 beds from newly constructed facilities, including the Company’s joint venture with Tufts Medicine.


Cash and Liquidity


As of March 31, 2026, the Company had $158.5 million in cash and cash equivalents and $564.8 million available under its $1.0 billion revolving credit facility. As of March 31, 2026, Acadia’s net leverage ratio was 3.9x Adjusted EBITDA, calculated in accordance with its Credit Agreement as disclosed in the Company’s latest periodic reports and other filings with the Securities and Exchange Commission (“SEC”).


Q2 and Full Year 2026 Financial Guidance


While Acadia does not typically provide financial guidance for the second quarter, given the substantial out-of-period supplemental payments received from the state of Tennessee in the second quarter of 2025, the Company is choosing to do so this year. Acadia’s financial guidance for the second quarter of 2026 and its updated 2026 full year guidance is as follows, subject to the assumptions described below:




 







Second Quarter 2026 Guidance Range








Revenue






 






$835 to $850 million








Adjusted EBITDA






 






$142 to $152 million








Adjusted earnings per diluted share






 






$0.30 to $0.40







The Company’s second quarter guidance includes the following assumptions:



Startup losses of approximately $15 million



No incremental new supplemental payments



Net leverage at the end of the second quarter is expected at 4.4x-4.5x Adjusted EBITDA (calculated in accordance with the Credit Agreement) because of the significant out-of-period benefit from Tennessee supplemental payments in Q2 of 2025. The Company expects net leverage at year-end 2026 to be in the range of 3.9x to 4.2x.





 







Full Year 2026




April Guidance Range






Full Year 2026




February Guidance Range








Revenue






 






$3.37 to $3.45 billion






$3.37 to $3.45 billion








Adjusted EBITDA






 






$580 to $615 million






$575 to $610 million








Adjusted earnings per diluted share






 






$1.35 to $1.60






$1.30 to $1.55








Operating Cash Flow






 






$285 to $325 million






$280 to $320 million








Capital expenditures






 






$255 to $280 million






$255 to $280 million







The Company expects its Specialty revenue and contribution to Adjusted EBITDA to increase relative to its guidance provided in February; however, the increase in Specialty is expected to be off-set by modestly higher bad debts and denials.


The Company’s guidance does not include the impact of any future acquisitions, divestitures, transaction, legal and other costs or non-recurring legal settlements expense.


Conference Call


Acadia will hold a conference call to discuss its first quarter financial results at 8:00 a.m. Central Time / 9:00 a.m. Eastern Time on Thursday, April 30, 2026. A live webcast of the conference call will be available at www.acadiahealthcare.com in the “Investors” section of the website. The webcast of the conference call will be available for 30 days.


About Acadia


Acadia is a leading provider of behavioral healthcare services across the United States (the “U.S.”). As of March 31, 2026, Acadia operated a network of 275 behavioral healthcare facilities with approximately 12,400 beds in 40 states and Puerto Rico. With approximately 25,000 employees serving more than 84,000 patients daily, Acadia is the largest stand-alone behavioral healthcare company in the U.S. Acadia provides behavioral healthcare services to its patients in a variety of settings, including inpatient psychiatric hospitals, specialty treatment facilities, RTCs and outpatient clinics.


Description of Business


Unless the context otherwise requires, all references herein to “Acadia,” “the Company,” “we,” “us” or “our” mean Acadia Healthcare Company, Inc. and its consolidated subsidiaries. Acadia Healthcare Company, Inc. is a holding company whose direct and indirect subsidiaries own and operate acute inpatient psychiatric facilities, specialty treatment facilities, CTCs, RTCs and facilities providing outpatient behavioral healthcare services to serve the behavioral healthcare and recovery needs of communities throughout the U.S. and Puerto Rico. The terms “facilities,” “centers,” “clinics,” and “hospitals” refer to entities owned, operated, or managed by subsidiaries of Acadia Healthcare Company, Inc. References herein to “employees” refer to employees of subsidiaries of Acadia Healthcare Company, Inc.


Forward-Looking Information


This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including statements related to our strategy, growth and anticipated operating results for future periods. Generally, words such as “may,” “will,” “should,” “could,” “anticipate,” “expect,” “intend,” “estimate,” “plan,” “continue” and “believe” or the negative of or other variation on these and other similar expressions identify forward-looking statements. These forward-looking statements are made only as of the date of this press release. We do not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements are based on current expectations and involve risks and uncertainties, and our future results could differ significantly from those expressed or implied by our forward-looking statements. Factors that may cause actual results to differ materially include, without limitation, (i) potential difficulties in successfully integrating the operations of acquired facilities or realizing the expected benefits and synergies of facility expansions, acquisitions, joint ventures and de novo transactions; (ii) Acadia’s ability to add beds, expand services, enhance marketing programs and improve efficiencies at its facilities; (iii) potential reductions in payments received by Acadia from government and commercial payors, including because of the significant changes to Medicaid financing mechanisms introduced by the One Big Beautiful Bill Act (the “OBBBA”) enacted on July 4, 2025; (iv) the occurrence of patient incidents, governmental investigations, litigation and adverse regulatory actions, which could adversely affect the price of our common stock and result in substantial payments and incremental regulatory burdens; (v) the risk that Acadia may not generate sufficient cash from operations to service its debt and meet its working capital and capital expenditure requirements; (vi) changes in expectations resulting from actuarial and other reviews of the Company’s liability reserves and other aspects of its business; (vii) potential disruptions to our information technology systems or adverse impacts of a cybersecurity incident; and (viii) potential operating difficulties, including, without limitation, disruption to the U.S. economy and financial markets; reduced admissions and patient volumes, including, without limitation, due to the OBBBA’s introduction of work or community engagement requirements in the Medicaid expansion population; increased costs relating to labor, supply chain and other expenditures; changes in competition and client preferences; and general economic or industry conditions that may prevent Acadia from realizing the expected benefits of its business strategies. These factors and others are more fully described in Acadia’s periodic reports and other filings with the SEC.




Acadia Healthcare Company, Inc.








Condensed Consolidated Statements of Income








(Unaudited)











 




Three Months Ended March 31,





 






2026






 







 






2025






 









(In thousands, except per share amounts)






 


Revenue


$






828,802






 







$






770,505






 











 


Salaries, wages and benefits (including equity-based compensation
expense of $7,956 and $8,677, respectively)


 






467,040






 







 






445,271






 







Professional fees


 






53,197






 







 






45,707






 







Supplies


 






29,491






 







 






28,342






 







Rents and leases


 






11,733






 







 






11,656






 







Other operating expenses


 






131,079






 







 






114,002






 







Depreciation and amortization


 






52,426






 







 






47,032






 







Interest expense, net


 






38,330






 







 






29,182






 







Debt extinguishment costs


 






—






 







 






1,269






 







Legal settlements expense


 






13,751






 







 






3,504






 







Gain on sale of property, net


 






(1,222






)







 






—






 







Transaction, legal and other costs


 






22,013






 







 






31,072






 







Total expenses


 






817,838






 







 






757,037






 







Income before income taxes


 






10,964






 







 






13,468






 







Provision for income taxes


 






6,500






 







 






4,404






 







Net income


 






4,464






 







 






9,064






 







Net income attributable to noncontrolling interests


 






(359






)







 






(690






)







Net income attributable to Acadia Healthcare Company, Inc.


$






4,105






 







$






8,374






 











 


Earnings per share attributable to Acadia Healthcare Company, Inc. stockholders:






Basic


$






0.05






 







$






0.09






 







Diluted


$






0.05






 







$






0.09






 











 


Weighted-average shares outstanding:






Basic


 






90,530






 







 






91,654








Diluted



90,859









92,038





 




Acadia Healthcare Company, Inc.







Condensed Consolidated Balance Sheets


(Unaudited)






 




March 31,

December 31,





 






2026






 







 






2025






 









(In thousands)






 


ASSETS


Current assets:






Cash and cash equivalents


$






158,472






 







$






133,242






 







Accounts receivable, net


 






471,752






 







 






440,604






 







Other current assets


 






206,974






 







 






240,293






 







Total current assets


 






837,198






 







 






814,139






 







Property and equipment, net


 






3,106,635






 







 






3,111,212






 







Goodwill


 






1,301,412






 







 






1,296,342






 







Intangible assets, net


 






98,585






 







 






96,672






 







Deferred tax assets


 






2,493






 







 






2,528






 







Operating lease right-of-use assets


 






132,159






 







 






134,005






 







Other assets


 






67,969






 







 






72,550






 







Total assets


$






5,546,451






 







$






5,527,448






 











 






 


LIABILITIES AND EQUITY


Current liabilities:






Current portion of long-term debt


$






32,500






 







$






28,438






 







Accounts payable


 






142,201






 







 






150,403






 







Accrued salaries and benefits


 






157,057






 







 






188,638






 







Current portion of operating lease liabilities


 






20,735






 







 






21,160






 







Other accrued liabilities


 






136,863






 







 






136,555






 







Total current liabilities


 






489,356






 







 






525,194






 







Long-term debt


 






2,494,293






 







 






2,471,529






 







Deferred tax liabilities


 






76,909






 







 






66,605






 







Operating lease liabilities


 






121,362






 







 






121,961






 







Other liabilities


 






196,271






 







 






201,607






 







Total liabilities


 






3,378,191






 







 






3,386,896






 







Redeemable noncontrolling interests


 






209,983






 







 






191,592






 







Equity:






Common stock


 






908






 







 






905






 







Additional paid-in capital


 






2,719,105






 







 






2,713,896






 







Accumulated deficit


 






(761,736






)







 






(765,841






)







Total equity


 






1,958,277






 







 






1,948,960






 







Total liabilities and equity


$






5,546,451






 







$






5,527,448






 








Acadia Healthcare Company, Inc.


Condensed Consolidated Statements of Cash Flows


(Unaudited)






 




Three Months Ended March 31,





 






2026






 







 






2025






 









(In thousands)


Operating activities:






Net income


$






4,464






 







$






9,064






 







Adjustments to reconcile net income to net cash provided by operating activities:






Depreciation and amortization


 






52,426






 







 






47,032






 







Amortization of debt issuance costs


 






1,253






 







 






1,056






 







Equity-based compensation expense


 






7,956






 







 






8,677






 







Deferred income taxes


 






10,340






 







 






(5,621






)







Debt extinguishment costs


 






—






 







 






1,269






 







Non-cash legal settlements expense


 






—






 







 






3,504






 







Gain on sale of property, net


 






(1,222






)







 






—






 







Other


 






401






 







 






73






 







Change in operating assets and liabilities, net of effect of acquisitions:






Accounts receivable, net


 






(31,148






)







 






(30,993






)







Other current assets


 






27,501






 







 






(9,019






)







Other assets


 






(542






)







 






(1,214






)







Accounts payable and other accrued liabilities


 






24,402






 







 






(9,242






)







Accrued salaries and benefits


 






(34,570






)







 






(19,801






)







Other liabilities


 






270






 







 






16,692






 







Net cash provided by operating activities


 






61,531






 







 






11,477






 











 


Investing activities:






Cash paid for acquisitions, net of cash acquired


 






—






 







 






(8,594






)







Cash paid for capital expenditures


 






(76,564






)







 






(174,631






)







Proceeds from sale of property and equipment


 






16,383






 







 






43






 







Other


 






(30






)







 






(56






)







Net cash used in investing activities


 






(60,211






)







 






(183,238






)











 


Financing activities:






Borrowings on long-term debt


 






—






 







 






1,200,000






 







Borrowings on revolving credit facility


 






85,000






 







 






760,000






 







Principal payments on revolving credit facility


 






(55,000






)







 






(1,035,000






)







Principal payments on long-term debt


 






(4,063






)







 






—






 







Repayment of long-term debt


 






—






 







 






(670,856






)







Payment of debt issuance costs


 






—






 







 






(18,615






)







Repurchase of shares for payroll tax withholding, net of proceeds from stock option exercises


 






(2,744






)







 






(1,936






)







Repurchase of common stock


 






—






 







 






(46,880






)







Contributions from noncontrolling partners in joint ventures


 






743






 







 






—






 







Other


 






(26






)







 






(21






)







Net cash provided by financing activities


 






23,910






 







 






186,692






 











 


Net increase in cash and cash equivalents


 






25,230






 







 






14,931






 







Cash and cash equivalents at beginning of the period


 






133,242






 







 






76,305






 







Cash and cash equivalents at end of the period


$






158,472






 







$






91,236






 











 


Effect of acquisitions:






Assets acquired, excluding cash


$






17,290






 







$






19,768






 







Liabilities assumed


 






—






 







 






(300






)







Redeemable noncontrolling interest resulting from an acquisition


 






(17,290






)







 






(10,874






)







Cash paid for acquisitions, net of cash acquired


$






—






 







$






8,594






 








Acadia Healthcare Company, Inc.


Operating Statistics (1)


(Unaudited, $ in thousands except per Patient Day metrics)








 




Three Months Ended March 31,





 






2026







 






2025






% Change


Same Facility Results (2)








Revenue


$






813,384







$






758,346







7.3






%







Patient Days


 






772,858







 






760,664







1.6






%







Admissions


 






51,959







 






48,776







6.5






%







Average Length of Stay (3)


 






14.9







 






15.6







-4.6






%







Revenue per Patient Day


$






1,052







$






997







5.6






%







Adjusted EBITDA


$






199,490







$






178,449







11.8






%













 


Total Facility Results








Revenue


$






828,802







$






770,505







7.6






%







Patient Days


 






786,780







 






774,933







1.5






%







Admissions


 






53,558







 






49,683







7.8






%







Average Length of Stay (3)


 






14.7







 






15.6







-5.8






%







Revenue per Patient Day


$






1,053







$






994







5.9






%







Adjusted EBITDA


$






185,489







$






172,361







7.6






%













 








 


(1) Total facility and same facility results may not be indicative of the overall performance of our business and should not be considered as alternatives for net income or any other performance measures in accordance with GAAP (as defined herein).


(2) Same facility results for the periods presented include facilities we have operated for more than one year and exclude certain closed services.


(3) Average length of stay is defined as patient days divided by admissions.



Acadia Healthcare Company, Inc.


Reconciliation of Net Income Attributable to Acadia Healthcare Company, Inc. to Adjusted EBITDA and
Same Facility Adjusted EBITDA


(Unaudited)






 




Three Months Ended March 31,





 






2026






 







 






2025






 









(in thousands)






 


Net income attributable to Acadia Healthcare Company, Inc.


$






4,105






 







$






8,374






 







Net income attributable to noncontrolling interests


 






359






 







 






690






 







Provision for income taxes


 






6,500






 







 






4,404






 







Interest expense, net


 






38,330






 







 






29,182






 







Depreciation and amortization


 






52,426






 







 






47,032






 







EBITDA


 






101,720






 







 






89,682






 











 


Adjustments:






Equity-based compensation expense (a)


 






7,956






 







 






8,677






 







Transaction, legal and other costs (b)


 






22,013






 







 






31,072






 







Debt extinguishment costs (c)


 






—






 







 






1,269






 







Legal settlements expense (d)


 






13,751






 







 






3,504






 







Gain on sale of property, net (e)


 






(1,222






)







 






—






 







Adjusted EBITDA


$






144,218






 







$






134,204






 











 


Corporate general and administrative costs (f)


 






(41,271






)







 






(38,157






)







Total Facility Adjusted EBITDA


 






185,489






 







 






172,361






 







De novos, acquisitions, and closed facilities (g)


 






(14,001






)







 






(6,088






)







Same Facility Adjusted EBITDA


$






199,490






 







$






178,449






 











 






 


See footnotes on pages 12-13.




 








Acadia Healthcare Company, Inc.


Reconciliation of Net Income Attributable to Acadia Healthcare Company, Inc. to


Adjusted Income Attributable to Acadia Healthcare Company, Inc.


(Unaudited)






 




Three Months Ended March 31,





 






2026






 







 






2025









(in thousands, except per share amounts)






 


Net income attributable to Acadia Healthcare Company, Inc.


$






4,105






 







$






8,374











 


Adjustments to income:






Transaction, legal and other costs (b)


 






22,013






 







 






31,072







Debt extinguishment costs (c)


 






—






 







 






1,269







Legal settlements expense (d)


 






13,751






 







 






3,504







Gain on sale of property, net (e)


 






(1,222






)







 






—







Provision for income taxes


 






6,500






 







 






4,404







Adjusted income before income taxes attributable to Acadia Healthcare Company, Inc.


 






45,147






 







 






48,623







Income tax effect of adjustments to income (h)


 






11,824






 







 






11,694







Adjusted income attributable to Acadia Healthcare Company, Inc.


 






33,323






 







 






36,929











 


Weighted-average shares outstanding - diluted


 






90,859






 







 






92,038











 


Adjusted income attributable to Acadia Healthcare Company, Inc. per diluted share


$






0.37






 







$






0.40











 






 


See footnotes on pages 12-13.







Acadia Healthcare Company, Inc.


Footnotes










 


We have included certain financial measures in this press release, including those listed below, which are “non-GAAP financial measures” as defined under the rules and regulations promulgated by the SEC. These non-GAAP financial measures include, and are defined, as follows:










 



• EBITDA: net income attributable to Acadia Healthcare Company, Inc. adjusted for net income attributable to noncontrolling interests, provision for income taxes, net interest expense and depreciation and amortization.










 



• Adjusted EBITDA: EBITDA adjusted for equity-based compensation expense, transaction, legal and other costs, debt extinguishment costs, legal settlements expense, and gain on sale of property, net.










 



• Adjusted income before income taxes attributable to Acadia Healthcare Company, Inc.: net income attributable to Acadia Healthcare Company, Inc. adjusted for transaction, legal and other costs, debt extinguishment costs, legal settlements expense, gain on sale of property, net, and provision for income taxes.










 



• Adjusted income attributable to Acadia Healthcare Company, Inc.: Adjusted income before income taxes attributable to Acadia Healthcare Company, Inc. adjusted for the income tax effect of adjustments to income.










 



• Total facility adjusted EBITDA: Adjusted EBITDA adjusted for general and administrative costs related to our corporate functions. General and administrative costs directly related to the facilities are included in total facility results.










 



• Same facility adjusted EBITDA: Adjusted EBITDA for facilities and services to those facilities operated in both the current and prior year. These metrics exclude the operating results associated with facilities under operation for less than one year and facilities acquired, divested or removed from service during the current or prior year.










 


The non-GAAP financial measures presented herein are supplemental measures of our performance and are not required by, or presented in accordance with, generally accepted accounting principles in the United States (“GAAP”). The non-GAAP financial measures presented herein are not measures of our financial performance under GAAP and should not be considered as alternatives to net income or any other performance measures derived in accordance with GAAP or as an alternative to cash flow from operating activities as measures of our liquidity. Our measurements of these non-GAAP financial measures may not be comparable to similarly titled measures of other companies. We have included information concerning the non-GAAP financial measures in this press release because we believe that such information is used by certain investors as measures of a company’s historical performance. We believe these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of issuers of equity securities, many of which present similar non-GAAP financial measures when reporting their results. Because the non-GAAP financial measures are not measurements determined in accordance with GAAP and are thus susceptible to varying calculations, the non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures of other companies. Our presentation of these non-GAAP financial measures should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items.










 


Total facility results include operating results for all of our facilities and services but exclude general and administrative costs related to our corporate functions. Such costs related to our corporate functions include, amongst others, costs for accounting and finance, information systems, human resources, legal and operational and executive leadership. General and administrative costs directly related to the facilities are included in facility results. Such costs directly related to our facilities include, amongst others, labor at the facility level, insurance, including property, professional, legal and general liability insurance, hospital supplies, including medication, utilities and food service, and general maintenance costs for the facility. We determine which general and administrative costs to exclude and include in total facility results by ensuring those costs directly associated with facility operations are captured at the facility level for reporting. Note that total facility costs include those related to new facilities and the cost of closure and run-out costs related to facilities we have closed. We believe that providing results on a total facility basis is helpful to our investors as a measure of our financial and operating performance because it neutralizes the impact of corporate-level items that do not arise out of our core operations at our facilities.










 


Same facility results include operating results only for facilities and services operated in both the current and prior year. These metrics exclude the operating results associated with facilities under operation for less than one year and facilities acquired during the current or prior year, as well as facilities divested or removed from service. We believe that providing results on a same facility basis is helpful to investors because it neutralizes the impact of new facilities that are in early stages of operation and facilities that we no longer operate, each of which may distort investors’ understanding of the Company’s underlying performance at our existing and continuing facilities. Further, we believe that providing same facility information is helpful to our investors as a measure of the financial and operating performance of our existing and continuing facilities on a comparable basis, and same facility results provide investors with information useful in understanding underlying organic growth in such facilities. For these reasons, we believe that same facility results are particularly useful during periods of significant expansion or contraction.










 


Total facility results reflect adjustments that are intended to provide the specific presentation described above, and same facility results reflect adjustments that may be irregular in timing from period to period related to newly opened or acquired facilities or facilities that we no longer operate, and may omit certain results that investors may view as important. Total facility and same facility results may therefore not be indicative of the overall performance of our business and should be not be considered as alternatives for net income or any other performance measures derived in accordance with GAAP.










 


The Company is not able to provide a reconciliation of projected Adjusted EBITDA and adjusted earnings per diluted share, where provided, to expected results due to the unknown effect, timing and potential significance of transaction-related expenses and the tax effect of such expenses.


 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260429308753/en/
Investor Contact:

investorrelations@acadiahealthcare.com


Original: Acadia Healthcare Announces First Quarter 2026 Results