Acadia Healthcare Company, Inc. reported a revenue increase of 9.2% for the second quarter of 2025, reaching $869.2 million compared to $796.0 million in the same period of 2024. For the first half of 2025, revenue totaled $1.64 billion, a 4.8% rise from $1.56 billion in the prior year. The growth in revenue was bolstered by a one-time recognition of $65.6 million from a state government program, which included services rendered in previous periods. The company’s net income for the second quarter was $30.1 million, down from $78.5 million in the same quarter last year, while net income for the first half was $38.5 million, compared to $154.9 million in 2024.
In terms of operational metrics, Acadia Healthcare's same-facility revenue grew by 9.5% in the second quarter, driven by a 7.5% increase in revenue per patient day and a 1.4% rise in admissions. The company operated 274 facilities with approximately 12,100 beds across 39 states and Puerto Rico as of June 30, 2025, having added 479 beds during the first half of the year. The company’s employee headcount remained stable, reflecting ongoing efforts to manage labor costs amid a tight labor market.
Acadia's expenses also saw significant changes, with total expenses rising to $819.2 million in the second quarter, up from $689.6 million a year earlier. This increase was largely attributed to higher salaries, wages, and benefits, which amounted to $452.4 million, and a notable rise in transaction, legal, and other costs, which surged to $64.4 million from $6.1 million in the prior year. The latter included substantial legal fees related to ongoing government investigations and litigation.
Strategically, Acadia Healthcare has been active in expanding its footprint through acquisitions and facility openings. The company completed the acquisition of Turning Point Centers, a 76-bed facility in Utah, and opened eleven comprehensive treatment centers (CTCs) during the first half of 2025. The company also refinanced its credit facilities, securing a new $1 billion revolving credit facility and a $650 million term loan, which are expected to enhance liquidity and support future growth initiatives.
Looking ahead, Acadia Healthcare remains focused on its growth strategy, which includes expanding existing facilities, pursuing joint ventures, and enhancing its service offerings. The company anticipates that recent legislative changes, such as the One Big Beautiful Bill Act, will have a limited impact on its operations, particularly due to exemptions for the populations it serves. However, management acknowledges the ongoing challenges posed by labor market conditions and regulatory scrutiny, which may affect future performance.
About Acadia Healthcare Company, Inc.
Acadia Healthcare Company, Inc. operates a nationwide network of behavioral healthcare facilities, including acute inpatient psychiatric hospitals, specialty treatment centers, comprehensive treatment centers, and residential treatment centers. Serving patients with complex mental health and substance use disorders, Acadia provides a continuum of care through medical, therapeutic, and medication-assisted treatments. Its diversified revenue base includes Medicaid, Medicare, and commercial payors, supported by a scalable business model focused on facility ownership, partnerships, and acquisitions.
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