Acadia Healthcare off 9% on quarterly bottom line miss; revenue outlook includes consensus
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- Acadia Healthcare is down 9% in Tuesday afternoon trading after its Q4 2022 financial results missed on the bottom line.
- Net income in the quarter fell ~12% to $63.1M compared to the prior-year period.
- The behavioral healthcare services provider beat on the top line.
- 2023 revenue guidance range of $2.82B to $2.88B includes the consensus of $2.82B.
- Acadia (NASDAQ:ACHC) was negatively impacted in the quarter by a ~19% year-over-year increase in operating expenses to $93.9M.
- The company ended 2022 with cash and cash equivalents of ~97.6M, a decline of 27% from the end of 2021.
- Read why Seeking Alpha contributor Zach Bristow recently reiterated his buy rating for Acadia (ACHC).