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FRANKLIN, Tenn.--(BUSINESS WIRE)--Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced that it will release its third quarter 2026 results on Wednesday, November 4, 2026, after the close of the market. Acadia will host a conference call with institutional investors and analysts on Thursday, November 5, 2026 at 9:00 a.m. ET. A live broadcast of the conference call will be available at www.acadiahealthcare.com in the “Investors” section of the website, and the archived webcast will be a.

Acadia Healthcare Company, Inc. (NASDAQ:ACHC – Get Free Report)’s stock price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $27.53 and traded as high as $28.92. Acadia Healthcare shares last traded at $28.87, with a volume of 2,431,127 shares trading hands.

Analysts Set New Price Targets ACHC has been the subject of several research analyst reports. KeyCorp boosted their target price on Acadia Healthcare from $30.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Guggenheim lifted their price target on shares of Acadia Healthcare from $38.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, July 30th. UBS Group upped their price objective on shares of Acadia Healthcare from $31.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Raymond James Financial downgraded shares of Acadia Healthcare from a “strong-buy” rating to an “outperform” rating and set a $39.00 price objective for the company. in a research note on Monday, September 28th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Acadia Healthcare in a research report on Wednesday, September 9th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Acadia Healthcare currently has an average rating of “Hold” and an average target price of $30.69.

Get Our Latest Report on ACHC

Acadia Healthcare Price Performance The company has a 50 day moving average price of $28.97 and a 200-day moving average price of $27.53. The company has a market cap of $2.69 billion, a price-to-earnings ratio of -2.32, a P/E/G ratio of 9.04 and a beta of 0.63. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.20. Acadia Healthcare (NASDAQ:ACHC – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. The firm had revenue of $865.84 million during the quarter, compared to the consensus estimate of $844.19 million. Acadia Healthcare had a negative net margin of 33.44% and a positive return on equity of 6.19%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 earnings per share. Acadia Healthcare has set its FY 2026 guidance at 1.450-1.600 EPS. As a group, equities research analysts predict that Acadia Healthcare Company, Inc. will post 1.55 EPS for the current fiscal year.

Institutional Inflows and Outflows Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Acadia Healthcare in the 2nd quarter worth about $441,685,000. Jefferies Financial Group Inc. bought a new stake in shares of Acadia Healthcare during the 2nd quarter valued at about $106,458,000. Deutsche Bank AG acquired a new stake in Acadia Healthcare during the second quarter worth approximately $49,746,000. Invenomic Capital Management LP increased its holdings in Acadia Healthcare by 71.0% in the fourth quarter. Invenomic Capital Management LP now owns 3,312,043 shares of the company’s stock worth $46,998,000 after purchasing an additional 1,375,647 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in Acadia Healthcare in the first quarter valued at approximately $43,017,000.

Acadia Healthcare Company Profile (Get Free Report)

Acadia Healthcare Company, Inc (NASDAQ: ACHC) is a provider of behavioral healthcare services. The company operates a network of psychiatric hospitals, specialty treatment facilities, residential treatment centers and outpatient clinics that provide care for individuals with mental health conditions, substance use disorders and other behavioral health needs.

Acadia’s services are designed for children, adolescents and adults and may include inpatient psychiatric treatment, addiction treatment, residential care, partial hospitalization and intensive outpatient programs.

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For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Acadia Healthcare (ACHC - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.

Acadia Healthcare is a member of the Medical sector. This group includes 917 individual stocks and currently holds a Zacks Sector Rank of #10. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Acadia Healthcare is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ACHC's full-year earnings has moved 3.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, ACHC has moved about 97.8% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 0.2% on average. This means that Acadia Healthcare is outperforming the sector as a whole this year.

Brookdale Senior Living (BKD - Free Report) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 0.7%.

In Brookdale Senior Living's case, the consensus EPS estimate for the current year increased 160% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Acadia Healthcare belongs to the Medical - Hospital industry, which includes 4 individual stocks and currently sits at #60 in the Zacks Industry Rank. Stocks in this group have gained about 8.8% so far this year, so ACHC is performing better this group in terms of year-to-date returns.

In contrast, Brookdale Senior Living falls under the Medical - Nursing Homes industry. Currently, this industry has 2 stocks and is ranked #7. Since the beginning of the year, the industry has moved -1.9%.

Investors interested in the Medical sector may want to keep a close eye on Acadia Healthcare and Brookdale Senior Living as they attempt to continue their solid performance.

Key Takeaways Acadia Healthcare shares surged 100% YTD as its outlook improved after a sharp 2025 slump.ACHC raised 2026 EBITDA, earnings and operating cash flow guidance while cutting expected capex.Acadia Healthcare added 240 licensed beds through two new joint-venture facilities in Q2 2026. Shares of Acadia Healthcare Company, Inc. (ACHC - Free Report) have surged 100% year to date, marking a sharp rebound from their 2025 slump. Investor sentiment had been weighed down by rising patient-related litigation costs and broader legal and liability concerns, which pressured the stock’s valuation. The industry rose 11.1% so far this year while the S&P 500 gained 13.2%.

YTD Price Performance – ACHC, Industry and S&P 500 Image Source: Zacks Investment Research

Early this year, Acadia brought back former CEO Debra Osteen, replacing Chris Hunter, while reaffirming its 2025 guidance. Investors appeared to welcome Osteen’s return as a potential source of greater operational discipline and stability.

Improving expectations also supported the rally. Management raised its 2026 adjusted EBITDA and earnings outlook following both first- and second-quarter results. After the second quarter, Acadia also increased its operating cash flow guidance to $350-$400 million from $285-$325 million and lowered its expected capital expenditures to $235-$255 million from $255-$280 million. The combination of stronger expected cash generation and lower spending provided additional support, particularly given Acadia’s elevated leverage.

Capacity expansion has also strengthened Acadia’s longer-term growth narrative. The company added 240 licensed beds in the second quarter of 2026 through two newly opened joint-venture facilities, a 144-bed facility with Orlando Health in Florida and a 96-bed facility with Methodist Jennie Edmundson Hospital in Iowa. Acadia also opened two new Comprehensive Treatment Center locations during the quarter.

Improving Estimates for ACHCThe Zacks Consensus Estimate for ACHC’s 2026 earnings is currently pegged at $1.55 per share, which witnessed four upward revisions and no cuts over the past 60 days. The consensus mark for 2027 EPS indicates a further 14.4% year-over-year growth. It beat earnings estimates in each of the past four quarters with an average surprise of 47%.

Meanwhile, the Zacks Consensus Estimate for ACHC’s 2026 and 2027 revenues is pegged at $3.42 billion and $3.61 billion, signaling 3.4% and 5.4% increases, respectively.

Zacks Rank & Key PicksAcadia Healthcare currently has a Zacks Rank #3 (Hold).

Enhancing the array of healthcare options, promising stocks in the Medical sector include Tenet Healthcare Corporation (THC - Free Report) , UnitedHealth Group Incorporated (UNH - Free Report) and The Ensign Group, Inc. (ENSG - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for Tenet Healthcare’s 2026 bottom line suggests 25.4% year-over-year growth. THC has witnessed nine upward estimate revisions over the past 60 days against no movement in the opposite direction. It beat earnings estimates in all the last four quarters, with an average surprise of 22.7%.

The Zacks Consensus Estimate for UnitedHealth’s full-year 2026 earnings indicates a 21.4% year-over-year increase. UNH beat earnings estimates in each of the past four quarters, with an average surprise of 12.1%. The consensus mark for 2026 revenues is pegged at $446.78 billion.

The Zacks Consensus Estimate for Ensign Group’s 2026 full-year earnings implies an 18.6% jump from the year-ago reported figure. ENSG beat earnings estimates in each of the last four quarters, with an average surprise of 4.3%. The consensus mark for its current-year revenues is pegged at $5.88 billion, which indicates a 16.3% year-over-year increase.

For Immediate ReleaseChicago, IL – September 17, 2026 – Today, Zacks Equity as Tenet Healthcare Corp. (THC - Free Report) , Acadia Healthcare Company, Inc. (ACHC - Free Report) and Community Health Systems, Inc. (CYH - Free Report)

Industry: Hospitals

Link: https://www.zacks.com/commentary/2990612/3-hospital-stocks-riding-strong-demand-and-improved-efficiency

The Zacks Medical-Hospital industry’s demand environment is relatively favorable, supported by an aging population, rising acuity, increased utilization and growth in higher-complexity procedures. However, margin expansion is harder to achieve because drug, supply and labor costs are rising quickly while payer mix is becoming less favorable and government reimbursement increases remain comparatively modest. Patients and payers are increasingly shifting toward lower-cost care settings.

Accelerating investments in AI and strategic mergers and acquisitions also remain important growth levers to expand scale, improve efficiency and strengthen market presence. Companies like Tenet Healthcare Corp., Acadia Healthcare Company, Inc.  and Community Health Systems, Inc. are strengthening cost discipline and working towards protecting margins.

Industry OverviewThe Zacks Medical-Hospital industry comprises for-profit hospital companies that provide healthcare through different types of hospitals, including acute care, outpatient, rehabilitation and psychiatric. These entities are engaged in internal medicine, general surgery, cardiology, oncology, neurosurgery, orthopedics and obstetrics, telehealth, mental health and diagnostic and emergency services. 

Revenues of these companies depend on inpatient occupancy, medical and ancillary services ordered by physicians and provided to patients, and the volume of ambulatory surgery centers’ (ASC) procedures. These companies receive payments for patient services from the government under the Medicare program, Medicaid, or similar programs, managed care plans (including plans offered through the American Health Benefit Exchanges), private insurers and directly from patients.

4 Key Trends Shaping the Hospital IndustryPatient Demand Rises as Outpatient Care Expands: Healthcare demand remains healthy, supported by an aging population, higher patient acuity and growing treatment needs. At the same time, care continues to move beyond traditional inpatient settings. Outpatient visits are growing faster than inpatient volumes as more procedures shift to ambulatory surgery centers and other lower-cost sites. Hospital systems are responding by expanding outpatient capacity, building specialty networks and strengthening physician relationships to capture demand across the care continuum.

Rising Costs and Payer Shifts Pressure Margins: Hospital finances remain strained by higher labor, drug and supply costs, while reimbursement has struggled to keep pace with expense growth. The pressure has intensified in 2026 as bad debt and charity care have risen alongside a less favorable payer mix. Providers are placing greater focus on staffing efficiency, purchasing discipline, revenue-cycle performance and patient flow. These efforts are becoming increasingly important as hospitals balance continued demand growth with the need to protect margins and preserve service capacity.

AI Takes a Larger Role in Hospital Operations: Artificial intelligence is moving deeper into everyday hospital workflows, with some of the clearest uses emerging in billing, coding, clinical documentation and revenue-cycle management. Providers are using automation to reduce manual work, improve accuracy and ease administrative demands on clinical staff. Digital tools, including virtual nursing, remote monitoring and telehealth, are also extending care beyond hospital walls.Investment is increasingly centered on technologies that can deliver measurable productivity gains while improving access and patient experience.

Health Systems Reshape Networks Through Strategic Deals: Hospital deal activity has strengthened in 2026, but the focus is moving beyond scale alone. Health systems are pursuing partnerships, acquisitions and selective combinations to add capabilities, deepen regional networks and expand attractive service lines. At the same time, some operators are exiting weaker or non-core markets and redirecting capital toward outpatient facilities, specialty care and other growth areas. This portfolio approach is helping providers strengthen their market presence while using capital more selectively.

Zacks Industry Rank Indicates Positive OutlookThe group’s Zacks Industry Rank, which is the average of the Zacks Rank of all member stocks, signals promising near-term prospects. The Zacks Medical-Hospital industry, which is housed within the broader Zacks Medical sector, currently carries a Zacks Industry Rank #63, which places it in the top 26% of nearly 250 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.

Looking at the aggregate earnings estimate revisions, it appears that analysts are becoming optimistic about this group’s earnings growth potential. As a matter of fact, the industry’s earnings estimates for 2026 have gone up by 6.9% over the past year.

Considering the encouraging dynamics of the industry, we will present a few stocks that should be on your watchlist. But it’s worth taking a look at the industry’s shareholder returns and current valuation first.

Industry Outperforms Sector and S&P 500The Zacks Medical-Hospital industry has fared better than the broader Zacks Medical sector and the Zacks S&P 500 Composite over the past year, benefiting from resilient patient demand, higher revenue per patient and improving operating efficiency. Better-than-expected earnings and growth in ambulatory services have also supported sentiment toward several hospital operators.

The industry has gained 19.9% over the past year compared with a 10.1% increase for the broader sector and a 16.3% advance for the S&P 500.

Industry's Current ValuationSince hospital operators are capital-intensive businesses that require significant investment in facilities and equipment, it makes sense to value them based on the EV/EBITDA (Enterprise Value/ Earnings before Interest, Tax, Depreciation and Amortization) ratio. On the basis of the trailing 12-month EV/EBITDA ratio, the industry trades at 7.47X compared with the S&P 500’s 17.61X and the sector’s 10.29X.

Over the past five years, the industry has traded as high as 10.66X and as low as 6.34X, with a median of 8.29X.

3 Hospital Stocks to WatchTenet Healthcare: Dallas, TX-based THC operates acute care hospitals and is one of the largest ambulatory care platforms. It continues to expand its Ambulatory Care segment through strategic buyouts to capitalize on growing demand for outpatient procedures. The company is also benefiting from solid same-facility revenue growth, higher patient acuity, disciplined expense management and higher Medicaid supplemental revenues.

The Zacks Consensus Estimate for Tenet Healthcare’s 2026 bottom line is pegged at $21.04 per share, up 25.4% year over year. But the same for 2027 indicates a slight decline to $20.83 per share. It beat earnings estimates in each of the past four quarters, with an average surprise of 22.7%. The consensus mark for 2026 and 2027 revenues indicates 4.2% and 1.6% year-over-year growth, respectively. Shares of the company have gained 42.2% over the past year. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Acadia Healthcare: Headquartered in Franklin, TN, Acadia Healthcare operates acute inpatient psychiatric facilities and Comprehensive Treatment Centers, which remain central to its growth strategy. Higher patient days and rising admissions continue to support results, while demand for mental health and substance use treatment remains strong. Healthy cash generation and a valuable real estate portfolio provide financial flexibility. After a year of operational setbacks, strategic actions are aimed at improving execution, restoring momentum and supporting an earnings recovery.

The Zacks Consensus Estimate for Acadia Healthcare’s 2026 bottom line is pegged at $1.55 per share, which remained stable over the past month. The same for 2027 indicates a 14.4% year-over-year jump to $1.78 per share. It beat earnings estimates in each of the past four quarters, with an average surprise of 47%. The consensus mark for 2026 and 2027 revenues indicates 3.4% and 5.4% year-over-year growth, respectively. ACHC shares have increased 24.9% over the past year. It currently has a Zacks Rank #3 (Hold).

Community Health Systems: Based in Franklin, TN, Community Health Systems operates acute care hospitals and outpatient facilities across the country. The company is benefiting from higher same-store admissions, while selective partnerships offer avenues for growth. CYH is also selling non-core assets to streamline its portfolio, lower debt and strengthen profitability over time. Although these divestitures may weigh on near-term results, they should improve the company’s financial position and operating focus.

The Zacks Consensus Estimate for Community Health Systems’ 2026 bottom line is pegged at a loss of 86 cents per share, which has remained stable over the past 30 days. The same for 2027 implies a 22.9% year-over-year improvement. The consensus mark for 2026 and 2027 revenues is pegged at $11.43 billion and $11.41 billion, respectively, impacted by divestment efforts. Shares of Community Health Systems have increased 0.7% in the past year. It also has a Zacks Rank #3 at present.

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, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Acadia Healthcare Company, Inc. (NASDAQ: ACHC) breached their fiduciary duties to shareholders.

If you currently own Acadia stock and are a long-term shareholder, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about your legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected].

Why Your Participation Matters:

Shareholder involvement can help improve a company's policies, practices, and oversight mechanisms to create a more transparent, accountable, and effectively managed organization, which can enhance shareholder value.

Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Halper Sadeh LLC

One World Trade Center

85th Floor

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Daniel Sadeh, Esq.

Zachary Halper, Esq.

(212) 763-0060

[email protected]

[email protected] 

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SOURCE Halper Sadeh LLP

Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.

Shareholders should contact the firm immediately as there may be limited time to enforce your rights. 

, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Acadia Healthcare Company, Inc. (NASDAQ: ACHC) breached their fiduciary duties to shareholders.

If you currently own Acadia stock and are a long-term shareholder, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about your legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected].

Why Your Participation Matters:

Shareholder involvement can help improve a company's policies, practices, and oversight mechanisms to create a more transparent, accountable, and effectively managed organization, which can enhance shareholder value.

Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:
Halper Sadeh LLC
One World Trade Center
85th Floor
New York, NY 10007
Daniel Sadeh, Esq.
Zachary Halper, Esq.
(212) 763-0060
[email protected]
[email protected]
https://www.halpersadeh.com

SOURCE Halper Sadeh LLP

A month has gone by since the last earnings report for Acadia Healthcare (ACHC - Free Report) . Shares have added about 11.8% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Acadia Healthcare due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Acadia Healthcare Company, Inc. before we dive into how investors and analysts have reacted as of late.

Acadia Healthcare Q2 Earnings Beat Estimates on Higher Admissions

Acadia Healthcare reported adjusted second-quarter earnings of 38 cents per share, which beat the Zacks Consensus Estimate by 15.2%. However, the bottom line declined 54% year over year.

Total revenues declined 0.4% year over year to $865.8 million. The top line surpassed the Zacks Consensus Estimate by 2.5%.

The better-than-expected quarterly results reflected strong patient demand, as admissions increased and same-facility patient days improved. Residential Treatment Facilities also delivered double-digit revenue growth. However, lower revenue per patient day, a shorter average length of stay and higher operating expenses weighed on profitability.

ACHC’s Q2 OperationsAcute Inpatient Psychiatric Facilities revenues totaled $494.6 million, which remained flat year over year but beat the Zacks Consensus Estimate by 4.3%.

Specialty Treatment Facilities' revenues declined 8.4% year over year to $133.5 million. Comprehensive Treatment Facilities revenues amounted to $141.2 million, flat year over year. Residential Treatment Facilities revenues increased 11.6% to $96.5 million.

Same-facility revenues of $856.4 million edged down 0.1% year over year but beat the Zacks Consensus Estimate by 3.6%. Patient days increased 0.8%, while revenue per patient day declined 0.8%. Admissions grew 6.4% year over year. The average length of stay decreased 5.3% year over year and missed the consensus estimate by 3.2%.

Overall facility patient days remained flat year over year, while admissions increased 6.3%. Revenue per patient day declined 0.4% year over year, and the average length of stay decreased 5.9%.

Total operating expenses increased 7.3% year over year to $727.6 million, primarily due to higher salaries, wages and benefits, professional fees, supplies and other operating expenses.

Total adjusted EBITDA declined 26% year over year to $149.2 million.

During the quarter, the company added 240 licensed beds from newly constructed facilities.

ACHC’s Q2 Financial UpdateAcadia Healthcare exited the second quarter with cash and cash equivalents of $171.3 million, which increased from the 2025-end level of $133.2 million. It had remaining borrowing capacity of $669.8 million under its $1 billion revolving credit facility at the end of the second quarter.

Total assets of $5.5 billion increased 0.3% from the 2025-end figure.

Long-term debt amounted to $2.4 billion, which declined from $2.5 billion as of Dec. 31, 2025. The current portion of long-term debt was $32.5 million.

Total equity of $2 billion increased from the 2025-end level of $1.9 billion.

Net cash provided by operating activities totaled $223.6 million in the first six months of 2026 compared with $145.0 million in the prior-year period.

Acadia Healthcare’s Share Repurchase UpdateThe company did not buy back shares in the second quarter of 2026.

Acadia Healthcare’s Revised 2026 OutlookAcadia Healthcare updated its 2026 guidance. The company now expects revenues to be in the range of $3.40-$3.45 billion compared with the previous guidance of $3.37-$3.45 billion. Adjusted EBITDA is now projected to be in the band of $590-$615 million compared with the previous outlook of $580-$615 million. Adjusted EPS is now expected to be $1.45-$1.60 compared with the earlier guidance of $1.35-$1.60.

Management also raised its operating cash flow forecast to $350-$400 million from $285-$325 million. Capital expenditures are now expected to be $235-$255 million, down from the prior guidance of $255-$280 million.

Management previously guided for the addition of 400-600 licensed beds in 2026.

How Have Estimates Been Moving Since Then?It turns out, fresh estimates have trended downward during the past month.

The consensus estimate has shifted -7.71% due to these changes.

VGM ScoresCurrently, Acadia Healthcare has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a score of C on the value side, putting it in the middle 20% for value investors.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Acadia Healthcare has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerAcadia Healthcare belongs to the Zacks Medical - Hospital industry. Another stock from the same industry, Community Health Systems (CYH - Free Report) , has gained 7.8% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.

Community Health Systems reported revenues of $2.83 billion in the last reported quarter, representing a year-over-year change of -9.8%. EPS of -$0.19 for the same period compares with -$0.05 a year ago.

Community Health Systems is expected to post a loss of $0.22 per share for the current quarter, representing a year-over-year change of -117.3%. Over the last 30 days, the Zacks Consensus Estimate has changed -116.7%.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Community Health Systems. Also, the stock has a VGM Score of D.

, /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF continues its investigation into Acadia Healthcare Company, Inc. (NasdaqGS: ACHC).

On September 27, 2024, the Company disclosed the receipt of a voluntary request for information from the U. S. Attorney's Office for the Southern District of New York as well as a grand jury subpoena from the United States District Court for the Western District of Missouri "related to its admissions, length of stay and billing practices." Then, on October 30, 2024, the Company disclosed that it had lowered its full-year 2024 revenue outlook to a range of $3.15 to $3.165 billion and its full-year 2024 adjusted EBITDA to a range of $725 to $735 million due in part to slower same-store patient day growth of only 3% in the month of October.

The Company has been sued in a securities class action lawsuit for failing to disclose material information, violating federal securities laws. Recently, the court presiding over the case denied the Company's motion to dismiss, allowing the case to move forward.

KSF's investigation is focusing on whether Acadia's officers and/or directors breached their fiduciary duties to Acadia's shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of Acadia shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-538-3608 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-achc/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-833-538-3608
1100 Poydras St., Suite 960
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Acadia Healthcare is rated BUY, driven by a robust capacity expansion pipeline and strong macro demand for mental health services. ACHC's defensible moat stems from its scale—279 facilities, 12.6k beds—positioning it as the largest independent U.S. behavioral healthcare provider. Forward EV/EBITDA of 8.8x reflects a 30% discount to the sector median and 17% below its five-year average, supporting valuation upside.

Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.

Shareholders should contact the firm immediately as there may be limited time to enforce your rights. 

, /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating whether certain officers and directors of Acadia Healthcare Company, Inc. (NASDAQ: ACHC) breached their fiduciary duties to shareholders.

If you currently own Acadia stock and are a long-term shareholder, you may be able to seek corporate governance reforms, the return of funds back to the company, a court-approved financial incentive award, or other relief and benefits. Please click here to learn more about your legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected].

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On August 06, 2026, Acadia Healthcare Co Inc (ACHC) shares fell 4.7% today, closing at $30.73. The stock has exhibited significant volatility over the past year

Acadia Healthcare Company, Inc. (ACHC) Q2 2026 Earnings Call Transcript

Neurogene Stock Plummets 44%: Is All Hope Lost for This Biotech?"Acadia Healthcare NASDAQ: ACHC reported second-quarter 2026 results that management said were in line with expectations, supported by progress at recently opened facilities, disciplined spending and strong free cash flow generation.

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Revenue totaled $866 million, unchanged from the prior-year quarter. The comparison was affected by supplemental payment programs: second-quarter 2025 included $48.7 million from Tennessee payments related to prior periods, while the latest quarter included $22.3 million from Florida payments related to the 2025 program year. Excluding those items, revenue would have increased 2.8% year over year, according to Interim Chief Financial Officer David Duckworth.

Adjusted EBITDA was $149.2 million. The result included a $26.1 million benefit from Florida supplemental payments, offset by a $28.6 million actuarial adjustment increasing professional and general liability reserves for prior-year cases. Together, those items reduced adjusted EBITDA by $2.5 million relative to the company’s April guidance, Duckworth said.

Same-Facility Trends and Service Lines Same-facility revenue was flat year over year, as a 0.8% increase in patient days was offset by a 0.8% decline in revenue per patient day. After adjusting for the Florida and Tennessee supplemental payments related to prior periods, same-facility revenue growth would have been 3.2%.

Duckworth said changes to New York’s Medicaid program affected Acadia’s Pennsylvania facilities and reduced same-facility revenue growth by about 1 percentage point. The company said it has been working to expand referral sources in Pennsylvania and other states.

Acute care: Revenue was $495 million, flat year over year but up 6% after normalizing for supplemental payments. Management cited strong volumes and admissions at existing acute facilities as well as newer joint-venture and de novo locations. Specialty care: Revenue was $134 million, up 4% sequentially from the first quarter. The business experienced the full-quarter impact of the New York Medicaid decision. Residential treatment centers: Revenue rose 12% year over year to $97 million, driven by volume growth and higher revenue per day. Comprehensive treatment centers: Revenue was $141 million, flat year over year. Acadia opened two CTC clinics during the quarter and said it continues to see demand for opioid-treatment services, although the segment performed slightly below its expectations. Chief Executive Officer Debbie Osteen said Acadia’s facilities opened between 2023 and 2026 generated revenue and facility-level EBITDA ahead of management’s expectations during the quarter. The company continues to target $200 million of incremental adjusted EBITDA from that group of facilities relative to 2025.

Osteen pointed to Coachella Valley, a 2024 de novo facility, as an example of the ramp-up progress. The facility is above 90% occupancy, she said, and Acadia is evaluating additional bed capacity there.

Expansion, Staffing and Cost Controls Acadia opened two acute facilities during the quarter: a 144-bed joint-venture facility with Orlando Health in Florida and a 96-bed joint-venture facility with Methodist Jennie Edmundson in Iowa. The company added more than 300 beds in the first half and remains on track to add 500 to 600 beds in 2026, including a planned de novo acute-facility opening near Jacksonville, Florida, in the third quarter.

Management said it has shortened timelines for licensing, accreditation and payer contracting at new facilities. Osteen also cited closer communication with joint-venture partners and greater expense discipline as factors helping new sites ramp more quickly.

Start-up facility losses were $12 million in the second quarter, better than management expected, although Duckworth said losses could rise to roughly $12 million to $14 million in the third quarter because of recent and planned openings. He said the company expects the amount to decline below $12 million in the fourth quarter as facilities mature.

Duckworth said the labor market remained stable, with wage-cost growth running around 3% overall, though results vary by role and geography. Acadia also reported that corporate overhead declined by about $3 million from the first quarter and was flat year over year.

Cash Flow, Debt Reduction and Updated Outlook Operating cash flow was $162 million in the second quarter, while capital expenditures were $39 million, resulting in free cash flow of $124 million. Acadia repaid $113 million of debt and ended the quarter with $171 million in cash and cash equivalents. Its net leverage ratio was approximately 4.1 times adjusted EBITDA as of June 30.

The company revised its full-year capital-expenditure forecast to $235 million to $255 million, including $120 million to $140 million expected in the second half. Duckworth said the revision reflects the timing of projects and a more disciplined approach to capital deployment. Acadia expects positive free cash flow in the second half.

For 2026, Acadia updated its outlook to:

Revenue of $3.4 billion to $3.45 billion; Adjusted EBITDA of $590 million to $615 million; Adjusted earnings per share of $1.45 to $1.60; and Operating cash flow of $350 million to $400 million. The guidance does not fully include potential expansion of supplemental payment programs. Duckworth said Florida and Ohio programs under regulatory review for the 2026 program year could add more than $20 million in incremental EBITDA, while the company included a $5 million historical baseline amount for Florida in its third-quarter expectations.

On liability reserves, Duckworth said the $28.6 million second-quarter adjustment was primarily tied to prior-year cases from the 2025 policy year moving toward settlement. He said reserves for the current year remain consistent with prior expectations of $100 million to $110 million, while the inclusion of the prior-year adjustment puts the total annual amount in a range of roughly $130 million to $135 million.

About Acadia Healthcare (NASDAQ:ACHC)Acadia Healthcare Company, Inc NASDAQ: ACHC is a publicly traded provider of behavioral healthcare services headquartered in Franklin, Tennessee. Founded in 2005, the company has grown through organic expansion and strategic acquisitions to establish itself as a leading specialist in mental health and addiction treatment across the United States.

Acadia operates a diversified network of inpatient psychiatric hospitals, residential treatment centers, outpatient clinics and intensive outpatient programs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Acadia Healthcare (ACHC - Free Report) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.83 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +15.15%. A quarter ago, it was expected that this provider of inpatient behavioral health care services would post earnings of $0.28 per share when it actually produced earnings of $0.37, delivering a surprise of +32.14%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Acadia Healthcare, which belongs to the Zacks Medical - Hospital industry, posted revenues of $865.84 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.50%. This compares to year-ago revenues of $869.23 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Acadia Healthcare shares have added about 129% since the beginning of the year versus the S&P 500's gain of 8.3%.

What's Next for Acadia Healthcare?While Acadia Healthcare has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Acadia Healthcare was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.50 on $871.47 million in revenues for the coming quarter and $1.50 on $3.4 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Hospital is currently in the bottom 12% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Foghorn Therapeutics Inc. (FHTX - Free Report) , another stock in the broader Zacks Medical sector, has yet to report results for the quarter ended June 2026.

This company is expected to post quarterly loss of $0.23 per share in its upcoming report, which represents a year-over-year change of +17.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Foghorn Therapeutics Inc.'s revenues are expected to be $8.12 million, up 7.4% from the year-ago quarter.

SAN DIEGO--(BUSINESS WIRE)---- $ACHC #Medicine--Robbins LLP reminds investors of their rights following the court's decision to allow securities claims against Acadia Healthcare Company (NASDAQ: ACHC) to proceed.The case is continuing after the Court denied defendants' motion to dismiss the amended complaint. The ruling means the case can proceed past the motion-to-dismiss stage. It does not determine whether the allegations are true or establish liability. Investors who purchased or otherwise acquired Acadia Healt.

The Zacks Medical-Hospital industry is undergoing a structural transformation as patients and payers increasingly shift toward lower-cost care settings outside traditional hospitals. As a result, the fastest growth is coming from ambulatory surgery centers, home health and post-acute care providers. Meanwhile, hospitals continue to contend with elevated patient utilization, persistent labor and supply cost inflation, and reimbursement and regulatory uncertainty. To protect margins, providers are accelerating investments in AI, revenue cycle management and digital technologies, while streamlining operations and expanding outpatient care networks.
Strategic mergers and acquisitions also remain an important growth lever to expand scale, improve efficiency and strengthen market presence. Companies like Tenet Healthcare Corporation (THC - Free Report) , Universal Health Services, Inc. (UHS - Free Report) , Acadia Healthcare Company, Inc. (ACHC - Free Report) and Community Health Systems, Inc. (CYH - Free Report) are streamlining operations, strengthening cost discipline and investing in higher-growth service lines.

Industry Overview The Zacks Medical-Hospital industry comprises for-profit hospital companies that provide healthcare through different types of hospitals, including acute care, outpatient, rehabilitation and psychiatric. These entities are engaged in internal medicine, general surgery, cardiology, oncology, neurosurgery, orthopedics and obstetrics, telehealth, mental health and diagnostic and emergency services. Revenues of these companies depend on inpatient occupancy, medical and ancillary services ordered by physicians and provided to patients, and the volume of ambulatory surgery centers’ (ASC) procedures. These companies receive payments for patient services from the government under the Medicare program, Medicaid, or similar programs, managed care plans (including plans offered through the American Health Benefit Exchanges), private insurers and directly from patients.

4 Key Trends Shaping the Hospital Industry Demand Grows as Care Moves Beyond Hospitals: Demand for healthcare continues to rise, supported by an aging U.S. population, increasing chronic disease prevalence and higher use of elective procedures. CMS projects national health spending to climb steadily and reach around $9 trillion by 2034, making up 20.6% of the economy. Meanwhile, care is shifting away from traditional inpatient hospitals toward ambulatory surgery centers, outpatient clinics, home health and virtual care. Lower-cost settings are becoming more attractive for patients and payers, prompting hospital systems to expand outpatient networks, strengthen physician partnerships and invest in home-based services to meet changing demand while improving asset utilization.

Margin Pressure Keeps Efficiency in Focus: Hospitals continue to face elevated labor, supply and pharmaceutical costs, even as contract staffing expenses ease from pandemic highs. Reimbursement growth has generally lagged cost inflation, keeping pressure on operating margins. Additionally, emerging cyber risks are pushing up insurance premiums and compliance costs, adding further pressure across the system. In response, providers are tightening cost controls, improving workforce productivity and automating administrative tasks. Many are also using data analytics to optimize staffing, purchasing and patient flow.

Technology Becomes a Competitive Advantage: Artificial intelligence is moving beyond pilot programs and becoming part of everyday hospital operations. It is increasingly improving revenue cycle management, prior authorization workflows and clinical documentation, helping providers accelerate collections and reduce administrative workload. Digital tools are also strengthening patient engagement through online scheduling, remote monitoring and virtual follow-up care. Telehealth remains an important part of care delivery, particularly for rural communities and patients with chronic conditions, allowing hospitals to extend services beyond their physical campuses while improving continuity of care.

Strategic Expansion Strengthens Market Position: Hospitals continue to pursue mergers, acquisitions and strategic partnerships to improve scale, expand specialty services and strengthen financial stability. While regulatory scrutiny has slowed some large hospital mergers, providers remain active in acquiring physician practices, outpatient facilities and complementary care businesses. These investments broaden referral networks, support the shift toward lower-cost care settings and create opportunities for greater operating efficiency. Larger health systems are also investing in digital infrastructure and outpatient capacity, positioning themselves to compete more effectively as healthcare delivery continues to evolve.

Zacks Industry Rank Indicates Positive Outlook The group’s Zacks Industry Rank, which is the average of the Zacks Rank of all member stocks, signals promising near-term prospects. The Zacks Medical-Hospital industry, which is housed within the broader Zacks Medical sector, currently carries a Zacks Industry Rank #107, which places it in the top 43% of nearly 250 Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.

Looking at the aggregate earnings estimate revisions, it appears that analysts are becoming optimistic about this group’s earnings growth potential. As a matter of fact, the industry’s earnings estimates for 2026 have gone up by 5.7% over the past year.

Considering the encouraging dynamics of the industry, we will present a few stocks that should be on your watchlist. But it’s worth taking a look at the industry’s shareholder returns and current valuation first.

Industry Lags Sector and S&P 500 The Zacks Medical-Hospital industry has fared worse than the broader Zacks Medical sector and the Zacks S&P 500 Composite over the past year, pressured by concerns over reimbursement, healthcare policy uncertainty and a shift in investor preference toward higher-growth technology and AI stocks.

The industry has declined 6.9% over the past year compared with a 6.9% gain for the broader sector and a 22.5% advance for the S&P 500.

One-Year Price PerformanceIndustry's Current Valuation Since hospital operators are capital-intensive businesses that require significant investment in facilities and equipment, it makes sense to value them based on the EV/EBITDA (Enterprise Value/ Earnings before Interest Tax Depreciation and Amortization) ratio. On the basis of the trailing 12-month EV/EBITDA ratio, the industry trades at 6.60X compared with the S&P 500’s 18.23X and the sector’s 9.94X.

Over the past five years, the industry has traded as high as 10.66X and as low as 6.34X, with a median of 8.33X, as the charts below show.

EV/EBITDA Ratio (Past 5 Years)

4 Hospital Stocks to Watch Tenet Healthcare: Based in Dallas, TX, the company operates acute care hospitals and is one of the nation's largest ambulatory care platforms. It continues to expand its Ambulatory Care segment through strategic acquisitions to capitalize on growing demand for outpatient procedures. The company is also benefiting from solid same-facility revenue growth, higher adjusted admissions and sustained momentum across its key service lines.

The Zacks Consensus Estimate for Tenet Healthcare’s 2026 bottom line is pegged at $17.61 per share, up 5% year over year. The same for 2027 indicates further growth to $17.63 per share. It beat earnings estimates in each of the past four quarters, with an average surprise of 20.6%. The consensus mark for 2026 and 2027 revenues indicates 3.3% and 1.9% year-over-year growth, respectively. Shares of the company have gained 1.6% over the past month. It currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Price & Consensus: THC

Universal Health Services: Headquartered in King of Prussia, PA, the company operates acute care hospitals, outpatient centers and one of the nation's largest behavioral health networks. Its services span internal medicine, autism care, addiction treatment and military-related healthcare. Growth is being driven by tuck-in acquisitions, rising patient days and admissions, facility expansion and partnerships that strengthen its behavioral health presence. UHS also maintains a shareholder-friendly capital allocation strategy, with regular buybacks and dividends, and had $1.298 billion remaining under its share repurchase authorization as of March 31, 2026.

The Zacks Consensus Estimate for Universal Health’s 2026 and 2027 bottom line is pegged at $23.47 and $25.40 per share, up 8% and 8.2% year over year, respectively. It beat earnings estimates in three of the past four quarters and missed once, with an average surprise of 9.5%. The consensus mark for 2026 and 2027 revenues indicates 6.8% and 5.1% year-over-year increases, respectively. While Universal Health shares have declined 6.4% over the past month, improving operations are expected to support a future rebound. It also currently has a Zacks Rank #3.

Price & Consensus: UHS

Acadia Healthcare: Based in Franklin, TN, it operates Acute Inpatient Psychiatric Facilities and Comprehensive Treatment Centers, which remain its core growth engines. Rising patient days, revenues per patient day, higher admissions and strong demand for mental health and substance use treatment continue to support steady long-term growth. ACHC’s solid cash generation ability and meaningful real estate assets provide financial flexibility and downside support. Following operational challenges over the past year, management's strategic initiatives are expected to improve execution and support earnings recovery.

The Zacks Consensus Estimate for Acadia Healthcare’s 2026 bottom line is pegged at $1.50 per share. The same for 2027 indicates a 14.8% year-over-year jump to $1.72 per share. It beat earnings estimates in each of the past four quarters, with an average surprise of 47.5%. The consensus mark for 2026 and 2027 revenues indicates 2.6% and 5.7% year-over-year growth, respectively. ACHC shares have gained 8.9% over the past month. It currently has a Zacks Rank #3.

Price & Consensus: ACHC

Community Health Systems: Headquartered in Franklin, TN, it operates a network of acute care hospitals and outpatient centers. The company is benefiting from lower expenses, higher-acuity procedures, improving commercial payer mixand resilient same-store revenues. Management is also focusing on operational efficiency and selective partnerships to support growth. In parallel, CYH continues to divest non-core assets to sharpen its portfolio, reduce debt burden and improve long-term profitability, even though these moves could pressure results in the near term.

The Zacks Consensus Estimate for Community Health Systems’ 2026 bottom line is pegged at a loss of 58 cents per share. The same for 2027 implies a 71.3% year-over-year improvement. The consensus mark for 2026 and 2027 revenues is pegged at $11.56 billion and $11.67 billion, respectively. Shares of Community Health Systems have jumped 15.9% in the past month. It currently has a Zacks Rank #3.

Price & Consensus: CYH

ACHC rides on strong demand and expansion gains, but premium valuation, rising costs, and weak efficiency raise caution for investors weighing next moves.

FRANKLIN, Tenn.--(BUSINESS WIRE)--Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced that it will release its first quarter 2026 results on Wednesday, April 29, 2026, after the close of the market. Acadia will also conduct a conference call with institutional investors and analysts on Thursday, April 30, 2026 at 9:00 a.m. ET. A live broadcast of the conference call will be available at www.acadiahealthcare.com in the “Investors” section of the website. The webcast of the conference.

Hedge fund manager David Einhorn said he is focusing on capital protection as markets rally on geopolitical optimism, warning that investors may be underestimating potential downside risks.

"It probably won't surprise anyone that we are again putting capital preservation at the top of our priorities," Einhorn said in his latest investor letter dated Monday and obtained by CNBC. "With so little downside priced in, we are willing to risk missing out on a possible recovery to position ourselves to play more offense, should one of the downside scenarios materialize."

U.S. stocks have rebounded violently with the S&P 500 entirely erasing the losses suffered since the Iran war began. The market is building on the recent gains this week even after U.S.-Iran negotiations over the weekend broke down, as investors remained optimistic that a deal between the two countries was still possible.

S&P 500 year to date

Greenlight's funds returned 6.5% in the first quarter, outperforming the S&P 500's 4.4% decline. Still, Einhorn said the firm has kept relatively low gross and net exposure, reflecting caution about valuations and the broader macro backdrop.

"Even the most cautious are investing with a Sammy Hagar inspired mentality: one foot on the brake and one on the gas," he said in the letter. "Nobody wants to miss the V- or even the checkmark-shaped recovery."

As the conflict began, Greenlight was already running with relatively low exposure, citing what it viewed as stretched valuations. Einhorn said Greenlight has made few adjustments, trading around index hedges and adding a long position in October oil futures. That bet has risen only modestly, as markets largely expect any supply disruption to be temporary.

Performance in the quarter was driven by gains in gold, Acadia Healthcare, DHT Holdings and Core Natural Resources, according to the letter. Greenlight also initiated a medium-sized position in Versant Media Group and smaller stakes in Crocs and SLM Corp.

Disclosure: Versant Media is the parent company of CNBC.

FRANKLIN, Tenn.--(BUSINESS WIRE)--Acadia Healthcare Company, Inc. (“Acadia” or the “Company”) (NASDAQ: ACHC) today announced the appointment of David Duckworth, former Chief Financial Officer of Acadia, as Interim Chief Financial Officer, effective May 1, 2026. Duckworth succeeds Todd Young, who is departing from the Company to pursue a CFO role at a private equity-backed animal health company. Young will remain with the Company through April 30, 2026, and will participate in the Company's firs.

FRANKLIN, Tenn.--(BUSINESS WIRE)--Acadia Healthcare Company, Inc. (“Acadia” or the “Company”) (NASDAQ: ACHC) today announced financial results for the first quarter ended March 31, 2026. First Quarter 2026 Results Revenue totaled $828.8 million, a 7.6% increase compared with the first quarter of 2025 Same-facility revenue increased 7.3% compared with the first quarter of 2025, including an increase in revenue per patient day of 5.6% and an increase in patient days of 1.6% Net income attributabl.

Acadia Healthcare Company, Inc. is downgraded to Sell due to persistent structural issues and a sharp valuation increase. Despite CEO change and capex cuts, ACHC faces a 200+ bps margin disadvantage from elevated insurance costs and rising claim frequency. ACHC's reliance on Medicaid (60.7% of revenue) is at risk from OBBBA, with reimbursement rates set to decline after 2028.

Key Takeaways Acadia Healthcare's Q1 EPS of 37 cents beat estimates as revenues rose 7.6% YoY to $828.8M.ACHC's growth was driven by higher patient days, admissions and a 14% Acute Inpatient revenue gain.ACHC raised its 2026 EBITDA outlook to $580-$615M and lifted EPS guidance despite rising expenses. Acadia Healthcare Company, Inc. (ACHC - Free Report) reported adjusted first-quarter earnings of 37 cents per share, which beat the Zacks Consensus Estimate of 28 cents. However, the bottom line declined 7.5% year over year.

Total revenues increased 7.6% year over year to $828.8 million. The top line beat the consensus mark of $824 million.

The better-than-expected quarterly results were driven by increased patient days and revenues per patient day, and higher admissions, which were partially offset by lower average length of stay and higher expenses.

ACHC’s Q1 OperationsACHC’s top line benefited most from its Acute Inpatient Psychiatric Facilities business, where revenues increased 14% year over year to $470.7 million and beat the Zacks Consensus Estimate by 6.4%. The metric benefited from higher volumes, aided by expanded capacity from both new construction and additions at existing facilities.

Specialty Treatment Facilities’ revenues declined 6.5% from the prior-year period to $128.1 million. Comprehensive Treatment Facilities’ revenues rose 2.5% year over year to $140.4 million, while Residential Treatment Facilities’ revenues increased 6.3% to $89.6 million.

Same-facility revenues of $813.4 million rose 7.3% year over year and beat the Zacks Consensus Estimate by 2%. The year-over-year improvement was driven by a 1.6% increase in patient days. Admissions grew 6.5% year over year. The average length of stay declined 4.6% year over year and missed the consensus estimate by 5.5%. Revenue per patient day increased 5.6% year over year.

In the overall facility, patient days improved 1.5% year over year, while admissions grew 7.8%. Revenue per patient day increased 5.9% year over year. The average length of stay declined 5.8% year over year.

Total expenses of $817.8 million rose from $757 million in the prior-year period due to higher salaries, wages and benefits, other operating expenses, supply costs and professional fees.

Total adjusted EBITDA rose 7.5% year over year to $144.2 million.

During the quarter, the company added 82 newly licensed beds, including 42 beds at existing facilities and 40 beds from newly constructed facilities, including a joint venture with Tufts Medicine.

Financial Update (as of March 31, 2026)Acadia Healthcare exited the first quarter with cash and cash equivalents of $158.5 million, which increased from $133.2 million at the 2025-end level. It had a leftover capacity of $564.8 million under its $1 billion revolving credit facility at the first-quarter end.

Total assets of $5.5 billion increased 0.3% from the figure at the end of 2025.

Long-term debt amounted to $2.5 billion, which rose from $0.9 billion as of Dec. 31, 2025. The current portion of long-term debt was $32.5 million.

Total equity of $2 billion increased from the 2025-end level of $1.9 billion.

Net cash provided by operations totaled $61.5 million in the first quarter of 2026 compared with $11.5 million in the prior-year comparable period.

Acadia Healthcare’s Share Repurchase UpdateThe company did not buy back shares in the first quarter of 2026.

Q2 Guidance by ACHCFor the second quarter of 2026, revenues are projected to be between $835 million and $850 million. Adjusted earnings per share (EPS) are predicted to be between 30 cents and 40 cents.

Adjusted EBITDA is estimated to be in the range of $142-$152 million.

Acadia Healthcare’s Revised 2026 OutlookRevenues are still projected to be in the range of $3.37 to $3.45 billion. Adjusted EBITDA is now estimated to be in the range of $580 to $615 million, up from the previous guidance range of $575 to $610 million. Adjusted EPS are now predicted to be between $1.35 and $1.60, up from the previous guidance range of $1.30 and $1.55.

Operating cash flows are now forecasted in the range of $285 to $325 million. Capital expenditures are expected to be in the range of $255-$280 million.

Management earlier estimated bed additions between 400 and 600 in 2026.

ACHC’s Zacks RankACHC currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

How Did Peers Perform?Several companies in the Medical space, including Molina Healthcare Inc. (MOH - Free Report) , UnitedHealth Group Incorporated (UNH - Free Report) and Elevance Health, Inc. (ELV - Free Report) , have already reported their financial results for the March quarter of 2026. Here’s how they had performed:

Molina Healthcare reported first-quarter 2026 adjusted earnings per share of $2.35, which beat the Zacks Consensus Estimate of $1.57. The bottom line declined 61.3% from the year-ago period's level. Revenues amounted to $10.8 billion, which decreased 3.1% year over year. The first-quarter performance was supported by lower medical care costs, partially offset by declining premiums, membership and investment income.

UnitedHealth reported first-quarter 2026 EPS of $7.23, which beat the Zacks Consensus Estimate of $6.46. The bottom line rose 0.4% year over year. Revenues rose 2% year over year to $111.7 billion. The quarterly earnings were aided by growth in commercial fee-based membership and the strength witnessed in Optum Rx. However, weakness in UnitedHealth’s Optum Health and declining risk-based membership partially offset the positives.

Elevance Health reported first-quarter 2026 adjusted earnings per share of $12.58, which surpassed the Zacks Consensus Estimate by 17.8%. The bottom line rose 5.1% year over year. Operating revenues advanced 1.5% year over year to $49.5 billion. The quarterly results benefited on the back of strong growth in premiums. Segment-wise, the Carelon division posted a robust revenue surge, aided by scaling risk-based services, while Health Benefits saw increased premium yields. However, Elevance Health’s upside was partly offset by a decline in overall medical membership and an elevated expense level.

On May 15, 2026, 13D Management disclosed a new position in Acadia Healthcare (ACHC +4.10%), acquiring 294,000 shares in a trade estimated at $5.32 million based on quarterly average pricing.

What happenedAccording to a filing with the Securities and Exchange Commission dated May 15, 2026, 13D Management initiated a new position in Acadia Healthcare (ACHC +4.10%) by acquiring 294,000 shares. The estimated value of the trade, calculated using the average closing price for the first quarter of 2026, was $5.32 million. The quarter-end value of the holding was $6.88 million, reflecting the position’s valuation at the end of the period.

What else to knowThis was a new position for the fund, with Acadia Healthcare representing 10.7% of 13F reportable assets after the trade.Top five holdings after the filing:NYSE:TWLO: $7.64 million (11.85% of AUM)NASDAQ:VSAT: $7.55 million (11.7% of AUM)NASDAQ:ACHC: $6.88 million (10.7% of AUM)NYSE:PSO: $6.02 million (9.3% of AUM)NYSE:ALV: $5.87 million (9.1% of AUM)As of May 14, 2026, shares of Acadia Healthcare were priced at $26.80, roughly flat over the past year and well underperforming the S&P 500, which is instead up about 25%.Company overviewMetricValueRevenue (TTM)$3.37 billionNet Income (TTM)($1.10 billion)Price (as of market close May 14, 2026)$26.80Company snapshotAcadia Healthcare provides behavioral healthcare services, including inpatient psychiatric care, specialty treatment, residential treatment centers, and outpatient clinics across the United States and Puerto Rico.The firm operates a network-based model, generating revenue primarily from patient services at its owned and operated healthcare facilities.It serves individuals seeking mental health and addiction treatment, with primary customers including patients, families, and referring healthcare professionals.Acadia Healthcare is a leading provider of behavioral healthcare services, operating hundreds of facilities and thousands of beds across the United States and Puerto Rico. The company's scale and diversified service offerings position it as a key player in the mental health and addiction treatment sector. Acadia Healthcare's extensive facility network and focus on specialized care support its competitive advantage in addressing growing behavioral health needs.

What this transaction means for investorsAcadia Healthcare shares have badly lagged the broader market over the past year, but they surged over 60% last quarter alone, and 13D Management made the company one of its largest disclosed positions immediately after establishing the stake.

The timing is notable because Acadia’s underlying business trends have improved. First-quarter revenue climbed 7.6% to $828.8 million, while same-facility revenue rose 7.3%, helped by higher patient volumes and stronger pricing. Adjusted EBITDA increased to $144.2 million from $134.2 million a year earlier, prompting management to raise its full-year adjusted EBITDA and earnings guidance. CEO Debbie Osteen thanked disciplined execution, strong patient volumes, and continued operating efficiencies for the strong performance.

The company also continues expanding capacity. Acadia added 82 newly licensed beds during the quarter and now operates roughly 275 facilities with approximately 12,400 beds across 40 states and Puerto Rico. If management can keep this up, the stock’s recent underperformance could start to look more like an opportunity than a warning sign.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Twilio. The Motley Fool recommends Pearson Plc. The Motley Fool has a disclosure policy.