FRANKLIN, Tenn. (AP) — FRANKLIN, Tenn. (AP) — Acadia Healthcare Co. (ACHC) on Wednesday reported third-quarter earnings of $36.2 million.
The Franklin, Tennessee-based company said it had profit of 40 cents per share. Earnings, adjusted for one-time gains and costs, came to 72 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The provider of inpatient behavioral health care services posted revenue of $851.6 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $848.4 million.
Acadia Healthcare expects full-year earnings in the range of $2.35 to $2.45 per share, with revenue in the range of $3.28 billion to $3.3 billion.
Acadia Healthcare shares have dropped 48% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.68, a decrease of 51% in the last 12 months.
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