Acadia Healthcare Shares Surge 23% Following Q4 Revenue Beat, Capacity Growth

Acadia Healthcare (NASDAQ:ACHC) shares are up on Wednesday following the company’s announcement of its fourth-quarter and full-year 2025 results, which included guidance for 2026.

The stock is moving higher as the broader market is experiencing gains, with the Nasdaq up 1.23%.

Earnings Snapshot

Acadia Healthcare reported fourth-quarter adjusted earnings of 7 cents, beating the consensus of 6 cents.

Sales of $821.46 million, beating the consensus of $800.07 million. Revenue exceeded the high end of the company's implied fourth-quarter guidance, primarily a result of improved volume growth during the quarter.

Performance Metrics

Sales increased 6.1% year-over-year. Same-facility revenue increased 4.4%, driven by a 3.1% increase in patient days and a 1.3% increase in revenue per patient day.

Same-facility admissions increased 2.5%. Facilities closed over the last 12 months accounted for a 2% drag on reported revenue growth in the fourth quarter.

The company reported a fourth-quarter revenue of $451 million from acute inpatient psychiatric facilities, marking a 10% increase year-over-year.

Fourth quarter acute inpatient volumes increased 6%, driven primarily by expanded capacity from both new and existing facilities.

Additionally, Acadia’s adjusted EBITDA for the quarter was $99.8 million, although this reflects a decrease from $153.1 million in the prior-year period due to higher expenses.

Fiscal 2026 Guidance

Acadia is guiding for 2026 revenues between $3.37 billion-$3.45 billion compared to the consensus of $3.41 billion.

The behavioral healthcare facility operator expects adjusted earnings of $1.30-$1.55 per share versus the consensus of $1.75.

The outlook assumes same-facility volume growth of 0%-1%. Same-facility revenue per patient day growth is expected to be in the range of 2% to 3%.

First Quarter 2026 Guidance

Acadia Healthcare expects first-quarter 2026 adjusted earnings of 25 to 30 cents compared to the Wall Street estimate of 31 cents.

The company forecasts sales between $820-$830 million compared to the consensus of $805.59 million.

Management Commentary

"Our results for the fourth quarter reflect improved volume growth with year-over-year revenue growth of 6%," said Debbie Osteen, CEO of Acadia. "While we work to address the ongoing challenges affecting our business, my key priorities as CEO are to bring steady leadership, reinforce operational discipline, and help position the company for long-term success."

Technical Analysis

The stock is currently trading 22.71% above its 20-day simple moving average (SMA), indicating strong short-term momentum.

The RSI is at 44.45, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold. Meanwhile, MACD is at 0.15, below its signal line at 0.22, indicating bearish pressure on the stock.

The combination of neutral RSI and bearish MACD suggests mixed momentum.

• Key Resistance: $22.50
• Key Support: $19.50

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $21.27. Recent analyst moves include:

• Guggenheim: Buy (Lowers Target to $22.00) (Feb. 23)
• Jefferies: Downgraded to Hold (Lowers Target to $15.00) (Jan. 22)
• TD Cowen: Buy (Lowers Target to $22.00) (Jan. 16)

ACHC Price Action: Acadia Healthcare shares were up 23.06% at $21.13 at the time of publication on Wednesday, according to Benzinga Pro data.

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