FRANKLIN, Tenn. (AP) — FRANKLIN, Tenn. (AP) — Acadia Healthcare Co. (ACHC) on Wednesday reported first-quarter net income of $4.1 million.
On a per-share basis, the Franklin, Tennessee-based company said it had net income of 5 cents. Earnings, adjusted for non-recurring costs and pretax expenses, were 37 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The provider of inpatient behavioral health care services posted revenue of $828.8 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $824.2 million.
Acadia Healthcare expects full-year earnings in the range of $1.35 to $1.60 per share, with revenue in the range of $3.37 billion to $3.45 billion.
Acadia Healthcare shares have increased 99% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.26, a climb of 26% in the last 12 months.
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