FRANKLIN (AP). FRANKLIN (AP). Acadia Healthcare Co. reported a first-quarter profit on Wednesday of $66 millions.
The Franklin, Tennessee, company reported a net profit of 72 cents per share. The adjusted earnings per share, after non-recurring expenses, were 75 cents.
The results exceeded Wall Street's expectations. Zacks Investment Research surveyed five analysts who estimated earnings per share of 71 cents.
Inpatient behavioral health services provider, Behavioral Health Care Services Inc., posted revenues of $704.3 millions in the period. This also exceeded Street expectations. Zacks surveyed five analysts who expected $676.1m.
Acadia Healthcare anticipates a full-year profit in the $3.10 to $4.40 range per share with revenues in the $2.82 to $2.88 trillion range.
Acadia Healthcare's shares have dropped 10% since the start of the year. Shares reached $74.11 in the final minutes on Wednesday. This represents a 10% increase over the past 12 months.
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