Acadia Healthcare: 3Q Earnings Snapshot
FRANKLIN, Tenn. (AP) _ Acadia Healthcare Co. (ACHC) on Tuesday reported third-quarter profit of $42.6 million.
On a per-share basis, the Franklin, Tennessee-based company said it had profit of 48 cents. Earnings, adjusted for one-time gains and costs, were 52 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The provider of inpatient behavioral health care services posted revenue of $777.3 million in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $786.1 million.
Acadia Healthcare shares have increased 22% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $31.37, a drop of 23% in the last 12 months.