Acadia Healthcare Company, Inc. reported a slight increase in revenue for the first quarter of 2025, generating $770.5 million compared to $768.1 million in the same period of 2024, marking a growth of 0.3%. However, net income attributable to the company saw a significant decline, falling to $8.4 million from $76.4 million year-over-year. This resulted in earnings per share dropping to $0.09 from $0.84. The decrease in profitability was attributed to increased operational costs, including a rise in salaries, wages, and benefits, which totaled $445.3 million, up from $417.5 million in the prior year.
The company's total expenses rose to $757.0 million from $669.2 million, driven by higher costs associated with salaries, legal settlements, and transaction-related expenses. Notably, transaction, legal, and other costs surged to $31.1 million from $2.8 million, primarily due to legal fees related to ongoing government investigations. The effective tax rate also increased to 32.7% from 20.3%, reflecting the impact of lower pre-tax results and decreased deductions related to equity-based compensation.
In terms of operational developments, Acadia Healthcare expanded its capacity by adding 378 beds across its facilities, which now total 270 locations with approximately 12,000 beds in 39 states and Puerto Rico. The company continues to focus on growth through acquisitions and the development of new facilities, having recently acquired Turning Point Centers, a specialty provider of substance use disorder treatment. The company also reported a 2.1% increase in same-facility revenue, driven by a 2.2% growth in patient days.
Financially, Acadia's cash and cash equivalents increased to $91.2 million as of March 31, 2025, up from $76.3 million at the end of 2024. The company has also restructured its debt, entering into a new credit agreement that includes a $1.0 billion revolving credit facility and a $650 million term loan facility. This refinancing was aimed at managing existing obligations and supporting ongoing operational needs. Looking ahead, Acadia Healthcare remains focused on enhancing its service offerings and expanding its market presence, while navigating the challenges posed by a competitive labor market and regulatory environment.
About Acadia Healthcare Company, Inc.
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