ACHC Nasdaq Earnings call
Acadia Healthcare Company, Inc. (ACHC) · Q2 2026 results
Share price: $38.80 · 2026-11-11
Results Q2 2026 vs Q1 2026 · previous quarter · published 28 Jul 2026 and 30 Apr 2026
Net income up 166.2% on the previous quarter. Management sounded about as positive as a typical company call, in its script and in answers to analysts.
Only a basic analysis is available for this company at the moment.
1 · Numbers
+166.2%
Net income vs Q1 2026
Outlook given
Net income 10.9M vs 4.1M
Revenue +4.5%
Against the same quarter last year (Q2 2025) it is −63.7%, so the move on last quarter looks seasonal or timing-related rather than a trend.
2 · How management spoke
Typical
Less upbeat than 65% of company calls
Answers to analysts: restrained, in line with the script.
Similar to last call.
3 · What stood out
Figure
As of March 31, 2026, the company had $158 million in cash and cash equivalents and approximately $565 million available under its credit facility.
Valuation
Reverse DCF. Free cash flow from the last full fiscal year, grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
Valuation unavailable: free cash flow and profit were negative in the last full year and on average over the last three, so there is nothing to discount.
Current price
$38.80
close of 2026-11-11
Revenue growth, 3 years
+8.3% a year
compound annual rate (CAGR)
Free cash flow 2023
$0.0B
Free cash flow 2024
−$0.6B
Free cash flow 2025
−$0.4B
Read between the lines
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Key theme
Normalizing for timing of supplemental payments in Florida and Tennessee reveals 2.8% growth instead of flat revenue.
Source quote
“After normalizing for the impact of the timing of supplemental payments related to prior periods in Florida and Tennessee, our total... For the second quarter, our total revenue was flat compared with the prior year period. In our acute business, we saw continued progress in ramping occupancy and revenue at our new facilities that have opened over the last few years, and our growth in same-facility volumes...”
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Key theme
ACHC reported positive free cash flow performance in the second quarter due to core business performance, new facility execution, and a decrease in AR days relative to previous periods.
Source quote
“We were pleased with the free cash flow performance during the second quarter and expect that to continue into the back... And it is attributable to strong performance in the core business and strong execution on many of our new facilities in addition to just some EBITDA visibility and confidence in the full year number that we have after being through the first part of the year, moving into the second half of the year, we're also seeing positive trends in our working capital and would highlight that AR days declined relative to where they were not only...”
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Guidance
The company expects to generate additional free cash flow in the second half of the year due to a disciplined approach to capital deployment, including CapEx.
Source quote
“We are taking a disciplined approach to capital deployment, including CapEx, and we expect to generate additional free cash flow in the second half of the year.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q2 2026. Ring: Q1 2026.
Script and answers carried a similar tone, so the script's message held up under questioning.
Sentences that drove the tone
“In our RTC service line, revenue in the second quarter was $97 million and increased 12% year-over-year, driven by solid volume growth as well as growth in revenue per day.”
“But with the strong demand capacity and team that we have and demand that we still see in that service line, we do see continued opportunity there to improve the...”
“We have seen growth in the number of clinics in that market and continue to see some opportunities in other markets to continue to add clinics selectively and based on...”
Full figures
USD · ROIC.AI fundamentals (NASDAQ:ACHC, period end 2026-06-30)
| Metric | Q2 2026period end 2026-06-30 | Q1 2026period end 2026-03-31 | Change | Q2 2025 | YoY |
|---|---|---|---|---|---|
| Revenue | 865.8M | 828.8M | +4.5% | 869.2M | −0.4% |
| Gross profit | 835.6M | — | — | ||
| Operating income | 87.8M | 11.0M | +700.5% | 50.0M | +75.5% |
| Net income | 10.9M | 4.1M | +166.2% | 30.1M | −63.7% |
| EPS | 0.12 | 0.05 | +140.7% | 0.33 | −63.5% |
| P/E | — | 12-mo loss | — | 14.9 | — |
Topics
Most discussed now
- New Looking at its second quarter results, a few notable highlights include the following: Acadia Healthcare delivered revenue that was above…
- New Acadia Healthcare ats the corporate level, it did take out a level of middle management just to facilitate problem solving to...
- Since I returned as CEO 6 months ago, Acadia Healthcare has refocused on its key priorities in order to create lasting...
- As always, Acadia is guided by Acadia Healthcare's mission to provide compassionate care that improves lives, inspires hope, and elevates…
- Acadia Healthcare has made significant progress on its key priorities in the first half of the year, and it expects to deliver...
Faded since Q1 2026
- Dropped Acadia Healthcare's CTC revenue grew 2.5% compared to the first quarter of 2025, but it slowed sequentially as it was negatively...
- Dropped It's slightly higher supplementals in the back half on a run rate basis, just sort of the core embedded supplementals...
- Fading As I shared in its last call, Acadia Healthcare is focused on building on its strong foundation with operational discipline and...
- Fading The decline in Acadia Healthcare's specialty facility revenue of 6.5% was driven by the previously discussed challenges in Pennsylvania and…
Latest announcements
Official filings, newest first.
- Other events · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K
- Other events · SEC 8-K
- Shareholder vote results · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K
- Director or officer change; Regulation FD disclosure · SEC 8-K
- Results of operations; Regulation FD disclosure · SEC 8-K