Q1 2026 Acadia Healthcare Company Inc Earnings Call Transcript
Key Points
- Acadia Healthcare Co Inc (ACHC) delivered revenue at the high end of their guidance range and exceeded the top end of their adjusted EBITDA and EPS range for the first quarter of 2026.
- The company reported a 14% growth in revenue from acute inpatient psychiatric facilities, driven by a 6.2% increase in inpatient volumes.
- Acadia Healthcare Co Inc (ACHC) raised their full-year adjusted EBITDA guidance by $5 million at the midpoint due to strong first-quarter performance.
- The company added 82 beds in the first quarter and is on track to add 400 to 600 beds over the course of the year, expanding access to care.
- For the eighth consecutive quarter, staff retention improved, indicating a stable workforce and positive work environment.
- Growth in the CTC side of the business slowed sequentially from the fourth quarter due to severe weather impacts, resulting in certain centers being closed.
- The specialty facility revenue declined by 6.5% due to challenges in Pennsylvania and the closure of specialty facilities in 2025.
- The company faced higher-than-expected levels of bad debts and denials, which impacted their financial performance.
- Start-up facility losses were $12 million, although this was $2 million better than forecasted, indicating ongoing challenges with new facilities.
- The net leverage ratio stood at approximately 3.9 times adjusted EBITDA, with expectations of temporary higher leverage in the second quarter.
Good day, and welcome to Acadia Healthcare's first quarter 2026 earnings call. (Operator Instructions) Please note, this event is being recorded. I would now like to turn the conference over to Todd Young, Chief Financial Officer. Please go ahead.
Thank you, and good morning. Yesterday, after the market closed, we issued a press release announcing our first quarter 2026 financial results. This press release can be found in the Investor Relations section of the acadiahealthcare.com website. Today, Debbie Osteen, Acadia's Chief Executive Officer; and myself, Todd Young, Chief Financial Officer, will discuss the results.
To the extent any non-GAAP financial measure is discussed in today's call, you will also find a reconciliation of that measure to the most directly comparable financial measure calculated according to GAAP in the press release that is posted on our website.
This conference call may contain forward-looking statements within the meaning of the Private Securities
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