NASDAQ$ACHC

Acadia Healthcare Company Inc. · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Acadia Healthcare's financial performance was reported for Q4 2020, revealing revenue growth and strategic progress.

Acadia Healthcare reported a revenue increase in Q4 2020 compared to the previous year, driven by solid volumes and strong cost management in their U.S. operations. However, the company experienced a net loss due to discontinued operations related to the sale of their U.K. business.

  • Revenue from continuing operations increased to $541.3 million, compared to $501.2 million in Q4 2019.
  • Net loss attributable to Acadia stockholders was $783.7 million, or $8.78 per diluted share, due to a loss from discontinued operations.
  • U.S. same facility revenue increased by 7.6% compared to Q4 2019.
  • The company closed on the sale of its U.K. operations to Waterland Private Equity in January 2021.

Headline financials

Total Revenue

$541M

Previous: $780M-30.6%
EPS (adj)

$1.13

Previous: $0.51+121.6%
US Same-Facility Rev. Growth

7.6%

Previous: 5.5%+38.2%
US Same-Facility Patient Days Growth

3.6%

Previous: 2.4%+50.0%
US Same-Facility Rev/Day Growth

3.8%

Previous: 3.0%+26.7%
Capital Expenditures

$20.8M

Previous: $82M-74.6%
Free Cash Flow

$166M

Previous: $37.4M+343.1%
Net Income

-$783M

Previous: -$10.3M-7487.9%
Operating Income

$46.2M

Previous: -$10.2M+550.4%
Gross Profit

$217M

Previous: $320M-32.1%
Cash & Equivalents

$379M

Previous: $124M+204.9%
Total Assets

$6.5B

Previous: $6.88B-5.5%
Stock-Based Comp

$6.25M

Previous: $2.99M+109.2%

Revenue & EPS history

Acadia Healthcare · Revenue · Quarterly

$541M

Q4 2020-30.6%vs Q4 2019
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Forward guidance

Acadia provided financial guidance for the full year and first quarter of 2021, excluding discontinued operations and the impact of future transactions.

Tailwinds

  • Revenue in a range of $2.23 billion to $2.28 billion
  • Adjusted EBITDA in a range of $490 million to $520 million
  • Adjusted earnings per diluted share in a range of $2.20 to $2.45
  • Operating cash flows in a range of $250 million to $285 million
  • Addition of approximately 300 beds to existing facilities and 170 beds through new facilities

Headwinds

  • Interest expense of approximately $80 to $85 million
  • A tax rate of approximately 26.5%
  • Depreciation and amortization expense in a range of $105 million to $110 million
  • Stock compensation expense of approximately $28 million
  • Total capital expenditures in a range of $285 million to $325 million

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 2020

Historical avgQ4 2020

+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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