FRANKLIN, Tenn. (AP) — FRANKLIN, Tenn. (AP) — Acadia Healthcare Co. (ACHC) on Wednesday reported first-quarter earnings of $76.4 million.
The Franklin, Tennessee-based company said it had net income of 83 cents per share. Earnings, adjusted for non-recurring costs, were 84 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
The provider of inpatient behavioral health care services posted revenue of $768.1 million in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $777.4 million.
Acadia Healthcare expects full-year earnings in the range of $3.40 to $3.70 per share, with revenue in the range of $3.18 billion to $3.25 billion.
Acadia Healthcare shares have declined 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $72.99, a climb of 3.5% in the last 12 months.
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