Shares of Acadia Healthcare (ACHC) are down over 17% today, following its financial results for the fourth quarter and full year ended December 31, 2024.
The net income attributable to the company declined to $32.6 million or $0.35 per share in the fourth quarter of 2024 from $57.7 million or $0.63 per share in the year-ago quarter. The adjusted income attributable to the company plunged to $59.2 million, or $0.64 per share in the fourth quarter of 2024, from $78.3 million, or $0.87 per share in the fourth quarter of 2023.
For the fourth quarter of 2024, Acadia Healthcare reported a total revenue of $774.2 million, reflecting a 4.2% increase compared to $742.8 million in the same period the previous year.
During 2024, Acadia Healthcare constructed approximately 1,300 newly constructed beds, marking the largest bed expansion in the company's history.
Today, Acadia also revealed that its Board of Directors has authorized a share repurchase program for up to $300 million of the company's outstanding common stock.
Looking ahead to 2025, Acadia expects revenue in the range of $3.3 billion to $3.4 billion. The total revenue for the full year of 2024 was $3.15 billion.
The company ended the year 2024 with cash of $76.3 million.
Currently, ACHC is trading at $32.51 down by 19.26 percent on the Nasdaq.
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