Acadia Healthcare Co., Inc. (ACHC) Wednesday said first-quarter profit increased to $3.74 million from $3.68 million in the same period last year. On a per-share basis, earnings dropped to $0.07 from $0.11 last year.
Income from continuing operations totaled $4.1 million or $0.08 per share, compared to $3.3 million or $0.10 per share last year.
Adjusted earnings from continuing operations were $10.6 million or $0.21 per share. On average, 12 analysts polled by Thomson Reuters expected the company to earn $0.20 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased 80.0 percent to $161.2 million from $89.6 million last year. Analysts expected revenues of $144.35 million.
Looking ahead, the company has raised its full-year adjusted earnings outlook to a range of $1.00 to $1.03 per share from the prior range of $0.96 to $1.00 per share. Analysts currently expect full-year earnings of $0.99 per share.
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