Acadia Healthcare Company, Inc. ("Acadia") (NASDAQ: ACHC) today announced financial results for the second quarter ended June 30, 2023.
Second Quarter and Recent Highlights
Revenue totaled $731.3 million, an increase of 12.2% over the second quarter of 2022
Same facility revenue increased 11.4% compared with the second quarter of 2022, including an increase in revenue per patient day of 6.1% and an increase in patient days of 4.9%
Net income attributable to Acadia totaled $72.3 million, or $0.79 per diluted share, and adjusted income from continuing operations attributable to Acadia totaled $84.7 million, or $0.92 per diluted share
Adjusted EBITDA increased 10.9% to $174.5 million as compared to $157.3 million for the second quarter of 2022, which excludes $8.6 million of income from the Provider Relief Fund ("PRF") established under the Coronavirus Aid, Relief, and Economic Security ("CARES") Act
Continued progress on the execution of the Company’s growth strategy by adding 98 beds to existing facilities and opening two additional comprehensive treatments centers (CTCs) during the quarter
Announced two new joint venture partnerships for future hospitals, marking Acadia’s 19th and 20th partnerships with leading healthcare systems across the country, and opened two new hospitals with joint venture partners early in the third quarter
Signed a definitive agreement in July to acquire a 76-bed specialty provider of substance use disorder and primary mental health treatment services based in the greater Salt Lake City, Utah, area
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