Acadia Healthcare Company, Inc. — Form 8-K
Filed July 28, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 48/100
What the filing says
Acadia reported Q2 2026 revenue of $865.8M (flat YoY; +2.8% normalized), with adjusted EBITDA declining 26% to $149.2M, driven by a $28.6M increase in professional/general liability reserves and timing of state supplemental payments. Net income fell 64% to $10.9M ($0.12/share) vs. $30.1M ($0.33/share) in Q2 2025; adjusted EPS fell 54% to $0.38 vs. $0.83. The company added 240 licensed beds via two joint ventures (Orlando Health in Florida, Methodist Jennie Edmundson in Iowa) and raised FY2026 revenue guidance to $3.40–3.45B (prior $3.37–3.45B), adjusted EBITDA to $590–615M (prior $580–615M), and operating cash flow to $350–400M (prior $285–325M), while lowering capex guidance to $235–255M (prior $255–280M).
Why this rating
Q2 earnings materially underperformed YoY (EPS -54% adjusted), but modest guidance raises on revenue and cash flow signal management confidence. Liability reserve increase is one-time; same-facility growth positive at +3.2% normalized. Material relative to $2.1B market cap but offset by operational progress.
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