Acadia Healthcare Company, Inc. (ACHC) Bundle
A Brief History of Acadia Healthcare Company
Company Overview
Acadia Healthcare Company, Inc. (ACHC) is a leading provider of behavioral healthcare services in the United States. Established in 2005, the company has grown significantly, operating more than 200 facilities across various states, focusing on inpatient psychiatric care, residential treatment, and outpatient services.
Recent Financial Performance
For the third quarter ended September 30, 2024, Acadia Healthcare reported revenue of $815.6 million, an increase of 8.7% compared to $750.3 million for the same period in 2023. Year-to-date revenue for the nine months ended September 30, 2024, reached $2.38 billion, up 8.9% from $2.19 billion in 2023.
| Financial Metric | Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 |
|---|---|---|---|---|
| Revenue | $815.6 million | $750.3 million | $2.38 billion | $2.19 billion |
| Salaries, Wages, and Benefits | $428.1 million | $394.2 million | $1.27 billion | $1.17 billion |
| Net Income | $71.4 million | ($215.5 million) | $230.9 million | ($75.4 million) |
| EPS (Diluted) | $0.74 | ($2.39) | $2.44 | ($0.87) |
Expense Breakdown
For Q3 2024, total expenses amounted to $717.1 million, compared to $1.04 billion in Q3 2023. The decrease in expenses was primarily due to the absence of significant legal settlements reported in the previous year.
| Expense Category | Q3 2024 | Q3 2023 |
|---|---|---|
| Professional Fees | $48.5 million | $45.5 million |
| Supplies | $29.6 million | $27.1 million |
| Interest Expense | $29.9 million | $20.7 million |
| Depreciation and Amortization | $37.6 million | $33.4 million |
| Legal Settlements | $0 | $394.2 million |
Capital Structure
As of September 30, 2024, Acadia Healthcare's total assets were valued at $5.87 billion, with total liabilities of $2.72 billion, resulting in total equity of $3.03 billion. The company’s long-term debt stood at $1.80 billion.
| Balance Sheet Item | September 30, 2024 | December 31, 2023 |
|---|---|---|
| Total Assets | $5.87 billion | $5.36 billion |
| Total Liabilities | $2.72 billion | $2.47 billion |
| Total Equity | $3.03 billion | $2.78 billion |
| Long-term Debt | $1.80 billion | $1.34 billion |
Future Outlook
Acadia Healthcare continues to expand its services, focusing on increasing facility capacity and enhancing patient care. The company anticipates further growth driven by rising demand for behavioral health services across the nation.
A Who Owns Acadia Healthcare Company, Inc. (ACHC)
Major Shareholders
As of 2024, the ownership structure of Acadia Healthcare Company, Inc. (ACHC) is characterized by a mix of institutional and retail shareholders. The following table outlines the major shareholders and their respective ownership percentages:
| Shareholder Type | Shareholder Name | Ownership Percentage |
|---|---|---|
| Institutional Investor | The Vanguard Group, Inc. | 10.5% |
| Institutional Investor | BlackRock, Inc. | 8.9% |
| Institutional Investor | Wellington Management Group LLP | 7.2% |
| Institutional Investor | State Street Corporation | 5.6% |
| Retail Investor | Insider Holdings | 3.4% |
| Other | Public Float | 64.4% |
Insider Ownership
Insider ownership, including management and board members, plays a crucial role in the governance of Acadia Healthcare. The following details highlight the key insiders and their ownership stakes:
| Name | Position | Shares Owned |
|---|---|---|
| Debbie Osteen | CEO | 250,000 |
| David K. B. Lowry | CFO | 75,000 |
| R. D. Richey | Chairman | 100,000 |
| Board Members | Various | 200,000 |
Changes in Ownership
In recent years, Acadia Healthcare has seen fluctuations in its ownership structure, particularly among institutional investors. The following table summarizes the changes in ownership percentages over the past year:
| Investor | Ownership Percentage (2023) | Ownership Percentage (2024) | Change |
|---|---|---|---|
| The Vanguard Group, Inc. | 9.8% | 10.5% | +0.7% |
| BlackRock, Inc. | 8.5% | 8.9% | +0.4% |
| Wellington Management Group LLP | 7.0% | 7.2% | +0.2% |
| State Street Corporation | 5.5% | 5.6% | +0.1% |
Market Performance and Valuation
As of September 30, 2024, Acadia Healthcare's stock performance reflects its ownership dynamics. The following key metrics provide insight into the company's market valuation:
| Metric | Value |
|---|---|
| Market Capitalization | $3.03 billion |
| Stock Price | $33.00 |
| Revenue (Q3 2024) | $815.6 million |
| Net Income (Q3 2024) | $68.1 million |
| EPS (Q3 2024) | $0.74 |
Overall, the ownership structure of Acadia Healthcare Company, Inc. reflects a significant presence of institutional investors, with notable insider ownership that aligns management interests with shareholder value. The recent performance metrics indicate a stable financial outlook amidst changes in ownership dynamics.
Acadia Healthcare Company, Inc. (ACHC) Mission Statement
Mission Statement Overview
Acadia Healthcare Company, Inc. is dedicated to providing high-quality, cost-effective behavioral healthcare services. The company aims to be the leading provider for patients with high-acuity and complex needs, ensuring the delivery of effective treatment in a supportive environment.
Core Values and Objectives
- Patient-Centered Care: Focus on individual treatment plans that cater to the specific needs of each patient.
- Quality Services: Commitment to high standards in treatment and care across all facilities.
- Community Engagement: Actively engage with the communities served to improve access to behavioral health services.
- Healthcare Innovation: Invest in advanced treatment methodologies and technologies to enhance patient outcomes.
- Employee Development: Foster a supportive work environment that promotes professional growth and development.
Financial Performance
As of September 30, 2024, Acadia Healthcare reported significant growth in its financial metrics:
| Financial Metric | Q3 2024 | Q3 2023 | Change (%) |
|---|---|---|---|
| Revenue | $815.6 million | $750.3 million | +8.7% |
| Net Income | $68.1 million | $(217.7) million | N/A |
| Adjusted EBITDA | $303.9 million | $202.6 million | +50.0% |
| Salaries, Wages, and Benefits | $428.1 million | $394.2 million | +8.6% |
| Operating Expenses | $717.1 million | $1.037 billion | -30.9% |
Service Delivery and Facilities
As of September 30, 2024, Acadia operates 260 behavioral healthcare facilities across 38 states and Puerto Rico, with approximately 11,300 beds. The company added 275 beds during the nine months ended September 30, 2024, demonstrating its commitment to expanding access to care.
| Facility Type | Q3 2024 Revenue ($ millions) | Q3 2023 Revenue ($ millions) |
|---|---|---|
| Acute Inpatient Psychiatric Facilities | $439.8 million | $382.4 million |
| Specialty Treatment Facilities | $155.8 million | $158.7 million |
| Comprehensive Treatment Centers | $134.2 million | $129.6 million |
| Residential Treatment Centers | $85.9 million | $79.6 million |
Revenue by Payor Type
The company's revenue is derived from various payors, reflecting its broad market engagement:
| Payor Type | Q3 2024 Revenue ($ millions) | Q3 2023 Revenue ($ millions) | Percentage of Total Revenue |
|---|---|---|---|
| Commercial | $216.1 million | $212.3 million | 26.5% |
| Medicare | $118.0 million | $117.3 million | 14.5% |
| Medicaid | $454.3 million | $400.5 million | 55.7% |
| Self-Pay | $14.8 million | $15.5 million | 1.8% |
| Other | $12.4 million | $4.7 million | 1.5% |
Strategic Initiatives
Acadia Healthcare is focused on several strategic initiatives to enhance its service offerings and market position:
- Facility Expansions: Continuously adding capacity through new facilities and increased bed counts.
- Technological Advancements: Implementing cutting-edge technologies to improve patient care and operational efficiency.
- Partnerships and Collaborations: Engaging in joint ventures to enhance service delivery and reach.
Conclusion
Acadia Healthcare's mission statement reflects its commitment to providing comprehensive behavioral healthcare services while achieving sustained financial growth.
How Acadia Healthcare Company, Inc. (ACHC) Works
Company Overview
Acadia Healthcare Company, Inc. (ACHC) operates a network of behavioral healthcare facilities across the United States and Puerto Rico. The company primarily focuses on providing treatment for psychiatric disorders and substance abuse. As of September 30, 2024, Acadia operates over 200 facilities with a total of approximately 10,000 beds.
Financial Performance
For the three months ended September 30, 2024, Acadia reported a revenue of $815.6 million, an increase of 8.7% from $750.3 million in the same period of 2023. The revenue growth was driven by an increase in same facility revenue, which rose by 8.6%.
| Financial Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Revenue | $815.6 million | $750.3 million | +8.7% |
| Salaries, Wages, and Benefits | $428.1 million | $394.2 million | +8.6% |
| Net Income | $71.4 million | ($215.5 million) | - |
| Total Expenses | $717.1 million | $1,037.7 million | -30.9% |
Revenue Composition
Acadia's revenue is primarily derived from various payor types, including Medicaid, Medicare, and commercial insurance. For the three months ended September 30, 2024, the revenue by payor type was as follows:
| Payor Type | Amount (Q3 2024) | Percentage of Revenue |
|---|---|---|
| Commercial | $216.1 million | 26.5% |
| Medicare | $118.0 million | 14.5% |
| Medicaid | $454.3 million | 55.7% |
| Self-Pay | $14.8 million | 1.8% |
| Other | $12.4 million | 1.5% |
Operational Metrics
Acadia's operational efficiency is reflected in its key performance indicators for the three months ended September 30, 2024:
| Operational Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Same Facility Revenue Growth | 8.6% | 6.8% |
| Patient Days Growth | 4.7% | 2.9% |
| Admissions Growth | 2.0% | 0.5% |
Cost Structure
Acadia's total expenses for the three months ended September 30, 2024 were $717.1 million. The major components of expenses included:
- Salaries, wages, and benefits: $428.1 million
- Professional fees: $48.5 million
- Supplies: $29.6 million
- Other operating expenses: $112.1 million
- Depreciation and amortization: $37.6 million
- Interest expense: $29.9 million
Capital Expenditures and Investments
In the nine months ended September 30, 2024, Acadia reported cash used in investing activities of $533.1 million, primarily for capital expenditures. The breakdown is as follows:
| Type of Capital Expenditure | Amount |
|---|---|
| Routine Capital Expenditures | $71.3 million |
| Expansion Capital Expenditures | $415.6 million |
Debt and Financing
As of September 30, 2024, Acadia had outstanding senior notes with the following details:
| Note Type | Amount | Maturity Date | Interest Rate |
|---|---|---|---|
| 5.500% Senior Notes | $450.0 million | July 1, 2028 | 5.500% |
| 5.000% Senior Notes | $475.0 million | April 15, 2029 | 5.000% |
Net Income and Earnings Per Share
Acadia reported a net income of $71.4 million for the three months ended September 30, 2024, translating to an earnings per share of $0.74. This marked a significant recovery from the prior year, which recorded a net loss of ($215.5 million).
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Income | $71.4 million | ($215.5 million) |
| Earnings Per Share (Diluted) | $0.74 | ($2.39) |
Conclusion of Financial Metrics
Acadia Healthcare Company, Inc. continues to demonstrate resilience and growth in the behavioral healthcare sector, evidenced by significant revenue increases and operational performance improvements as of 2024.
How Acadia Healthcare Company, Inc. (ACHC) Makes Money
Revenue Sources
Acadia Healthcare generates revenue primarily from services related to inpatient psychiatric care, substance abuse treatment, and outpatient psychiatric care. The company receives payments from various sources, including:
- State governments (Medicaid)
- Commercial insurers
- Federal government (Medicare)
- Individual patients
For the nine months ended September 30, 2024, total revenue was $2,379.7 million, reflecting an increase of $193.8 million, or 8.9%, compared to the same period in 2023.
Breakdown of Revenue by Payor Type
| Payor Type | Three Months Ended September 30, 2024 (in $000s) | Three Months Ended September 30, 2023 (in $000s) | Percentage Change |
|---|---|---|---|
| Commercial | $216,050 | $212,328 | 0.3% |
| Medicare | $118,022 | $117,348 | 0.6% |
| Medicaid | $454,319 | $400,483 | 13.5% |
| Self-Pay | $14,824 | $15,524 | -4.5% |
| Other | $12,419 | $4,651 | 167.4% |
Revenue by Service Type
The following table details revenue attributed to each service category for the three and nine months ended September 30, 2024 and 2023:
| Service Type | Three Months Ended September 30, 2024 (in $000s) | Three Months Ended September 30, 2023 (in $000s) | Nine Months Ended September 30, 2024 (in $000s) | Nine Months Ended September 30, 2023 (in $000s) |
|---|---|---|---|---|
| Acute Inpatient Psychiatric Facilities | $439,788 | $382,406 | $1,269,593 | $1,113,632 |
| Specialty Treatment Facilities | $155,787 | $158,705 | $450,668 | $462,916 |
| Comprehensive Treatment Centers | $134,174 | $129,645 | $400,984 | $368,618 |
| Residential Treatment Centers | $85,885 | $79,578 | $258,480 | $240,772 |
Operating Expenses
Acadia Healthcare's total expenses for the three months ended September 30, 2024, were $717.1 million, compared to $1,037.7 million for the same period in 2023. This decrease is primarily attributed to the elimination of legal settlements expense, which was $394.2 million in 2023.
Key Operating Expenses
| Expense Type | Three Months Ended September 30, 2024 (in $000s) | Three Months Ended September 30, 2023 (in $000s) |
|---|---|---|
| Salaries, Wages, and Benefits | $428,147 | $394,150 |
| Professional Fees | $48,498 | $45,540 |
| Supplies | $29,623 | $27,147 |
| Rents and Leases | $12,389 | $11,731 |
| Other Operating Expenses | $112,137 | $104,048 |
Income and Profitability Metrics
For the three months ended September 30, 2024, Acadia Healthcare reported net income of $71.4 million, with a net income margin of 8.8%. This is a significant improvement from a net loss of $215.5 million in the same quarter of 2023.
Earnings Per Share (EPS)
| Period | Basic EPS | Diluted EPS |
|---|---|---|
| Three Months Ended September 30, 2024 | $0.74 | $0.74 |
| Three Months Ended September 30, 2023 | $(2.39) | $(2.39) |
Adjusted EBITDA
The adjusted EBITDA for Acadia Healthcare for the nine months ended September 30, 2024, was not explicitly provided; however, the adjusted EBITDA margin increased by 50 basis points compared to the previous year.
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Article updated on 8 Nov 2024
Resources:
- Acadia Healthcare Company, Inc. (ACHC) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Acadia Healthcare Company, Inc. (ACHC)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Acadia Healthcare Company, Inc. (ACHC)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.