NASDAQ$ACHC

Acadia Healthcare Company Inc. · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Acadia Healthcare's fourth quarter 2019 results were announced, showing revenue growth and strategic progress.

Acadia Healthcare reported Q4 2019 revenue of $780.2 million, a 4.9% increase year-over-year. The company experienced a net loss of $11.3 million, or $0.13 per diluted share. U.S. facilities showed improvement, and the company is proceeding with the sale of its U.K. business.

  • Revenue for the fourth quarter was $780.2 million, up 4.9% from Q4 2018.
  • Net loss attributable to Acadia stockholders was $11.3 million, or $0.13 per diluted share.
  • U.S. same facility revenue increased 5.5%, driven by increases in patient days and revenue per patient day.
  • A formal process was launched regarding the sale of the U.K. business.

Headline financials

Total Revenue

$780M

Previous: $744M+4.9%
EPS (adj)

$0.51

Previous: $0.47+8.5%
US Same-Facility Rev. Growth

5.5%

No prior period
US Same-Facility Patient Days Growth

2.4%

No prior period
US Same-Facility Admissions Growth

1.5%

No prior period
US Same-Facility Rev/Day Growth

3.0%

No prior period
Capital Expenditures

$82M

Previous: $91.5M-10.4%
Free Cash Flow

$37.4M

Previous: $36.4M+2.7%
Net Income

-$10.3M

Previous: -$332M+96.9%
Operating Income

-$10.2M

Previous: $91.7M-111.2%
Gross Profit

$320M

Previous: $300M+6.7%
Cash & Equivalents

$124M

Previous: $50.5M+145.9%
Total Assets

$6.88B

Previous: $6.17B+11.4%
Stock-Based Comp

$2.99M

Previous: $2.73M+9.4%

Revenue & EPS history

Acadia Healthcare · Revenue · Quarterly

$780M

Q4 2019+4.9%vs Q4 2018
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Forward guidance

Acadia provided financial guidance for the full year 2020, including revenue, adjusted EBITDA, and adjusted earnings per diluted share. The company also provided guidance for the first quarter of 2020.

Tailwinds

  • Revenue in a range of $3.28 billion to $3.34 billion
  • Adjusted EBITDA in a range of $610 million to $630 million
  • Adjusted earnings per diluted share in a range of $2.20 to $2.40
  • Revenue in a range of $795 million to $805 million for Q1 2020
  • Adjusted earnings per diluted share in a range of $0.37 to $0.42 for Q1 2020

Headwinds

  • Guidance does not include the impact of any future acquisitions, divestitures or transaction-related expenses
  • Potential difficulties operating our business in light of political and economic instability in the U.K.
  • The impact of fluctuations in foreign exchange rates, including the devaluation of the British Pound Sterling (GBP) relative to the U.S. Dollar (USD)
  • Acadia’s efforts to sell its U.K. operations may not result in any definitive transaction or enhance stockholder value
  • Potential reductions in payments received by Acadia from government and fourth-party payors

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

+1.5%

Avg return

Earnings day

+1.4%

Avg return

5 days after

+2.5%

Avg return

30 days after

60%

38 / 63 earnings

Positive

+23.1%

Q3 2020

Best reaction

-26.9%

Q3 2017

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.5%+0.3%-16.0%
Q4 2025+21.4%+36.5%+33.4%
Q3 2025-5.5%-10.2%-25.2%
Q1 2025+4.2%+1.2%-14.4%
Q4 2024-25.5%-26.3%-25.2%
Q3 2024-17.3%-18.0%-21.3%
Q2 2024+10.0%+5.4%+21.6%
Q1 2024-9.8%-8.3%-6.8%
Q4 2023-2.4%-1.8%-7.3%
Q3 2023-1.7%+1.1%+0.5%
Q2 2023+7.8%+6.5%+2.9%
Q1 2023-1.3%-4.4%-6.0%
Q4 2022-9.6%-7.3%-12.1%
Q3 2022-3.4%-5.5%+7.2%
Q2 2022+3.6%+3.9%+4.8%
Q1 2022+8.0%+5.4%+6.4%
Q4 2021+6.5%+9.3%+15.3%
Q3 2021+10.5%+11.8%+3.0%
Q2 2021+3.1%+1.3%+8.0%
Q1 2021-1.1%+1.1%+4.4%
Q4 2020+1.5%+2.5%+6.0%
Q3 2020+23.1%+28.7%+49.1%
Q2 2020+2.3%+2.7%-0.1%
Q1 2020+16.7%+18.2%+26.7%
Q4 2019-5.9%+6.0%+100.5%
Q3 2019-3.5%-2.0%+2.5%
Q2 2019-3.3%-12.0%-19.6%
Q1 2019+0.0%+3.2%+1.4%
Q4 2018+15.9%+11.7%+11.7%
Q3 2018-12.8%-5.0%-26.0%
Q2 2018-10.6%-7.4%-8.0%
Q1 2018+9.0%+11.7%+13.0%
Q4 2017+8.5%+6.8%+8.4%
Q3 2017-26.9%-25.6%-30.7%
Q2 2017+7.6%+5.7%-7.5%
Q1 2017-3.1%+0.0%-2.4%
Q4 2016+5.4%+4.9%-1.7%
Q3 2016+3.1%+3.8%+5.9%
Q2 2016-1.3%-0.8%-4.8%
Q1 2016-0.8%
Q4 2015+5.7%
Q3 2015+9.4%
Q2 2015+3.4%
Q1 2015-2.9%
Q4 2014-0.4%
Q3 2014+11.2%
Q2 2014-2.1%
Q1 2014+0.4%
Q4 2013-2.8%
Q3 2013+9.0%
Q2 2013+8.2%
Q1 2013+2.9%
Q4 2009+2.3%
Q4 2012+0.1%
Q3 2012+2.3%
Q2 2012+7.5%
Q2 2011+4.4%
Q1 2012+6.5%
Q1 2011-1.0%
Q4 2011+3.3%
Q4 2010+0.1%
Q3 2011+0.1%
Q3 2010+0.1%

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