FRANKLIN, Tenn. (AP) — FRANKLIN, Tenn. (AP) — Acadia Healthcare Co. (ACHC) on Thursday reported fourth-quarter net income of $32.6 million.
The Franklin, Tennessee-based company said it had profit of 35 cents per share. Earnings, adjusted for one-time gains and costs, were 64 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The provider of inpatient behavioral health care services posted revenue of $774.2 million in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $779.9 million.
For the year, the company reported net income of $255.6 million, or $2.78 per share, swinging to a profit in the period. Revenue was reported as $3.15 billion.
For the current quarter ending in March, Acadia Healthcare said it expects revenue in the range of $765 million to $775 million.
The company expects full-year earnings in the range of $2.50 to $2.80 per share, with revenue ranging from $3.3 billion to $3.4 billion.
Acadia Healthcare shares have risen 1.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $40.26, a decrease of 54% in the last 12 months.
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