Acadia Healthcare Company (ACHC) 47th Annual Raymond James Institutional Investor Conference summary

Company overview and market position

• Leading pure-play behavioral health provider with $3.3 billion in projected 2025 revenue and 277 facilities across 40 states.

• Treats 84,000 patients daily, up from 70,000 previously, with diversified services including acute, specialty, residential, and outpatient care.

• Acute care is the largest revenue segment; Medicaid accounts for 57% of payers, with no single state over 15% of revenue.

Strategic priorities and operational focus

• Emphasis on patient care, safety, and quality, with published outcome measures and industry-leading survey results.

• Added 2,500 new beds in three years, with 400–600 more coming in 2026; focus on ramping occupancy and faster utilization.

• Operational excellence includes payer relationship management, capital discipline, and expense control, especially for 2026–2027.

• Workforce retention and talent alignment are key, with rising retention rates and ongoing evaluation of staffing needs.

Financial outlook and growth drivers

• Q4 revenue and adjusted EBITDA met expectations; 2026 revenue guidance is $3.37–$3.45 billion, with adjusted EBITDA of $575–$610 million.

• Same-facility growth expected at 0–1% due to New York Medicaid policy change, but patient day growth projected at 2–3%.

• Over $300 million reduction in growth CapEx from 2025 to 2026, with further declines expected in 2027, supporting positive cash flow and lower leverage.

• $200 million EBITDA opportunity identified from ramping new beds and increasing occupancy.