Acadia Healthcare Company Inc

Acadia Healthcare updated its full-year 2026 guidance to reflect revenue between $3.4 billion and $3.45 billion. Interim Chief Financial Officer David Duckworth also set adjusted EBITDA expectations at $590 million to $615 million, adjusted EPS at $1.45 to $1.60, and operating cash flow at $350 million to $400 million. The company tightened its capital expenditure forecast to a range of $235 million to $255 million and remains on track to add 500 to 600 beds this year. CEO Debra Osteen reiterated confidence in delivering $200 million of incremental adjusted EBITDA versus 2025, while noting that unmodeled supplemental payment approvals in Florida and Ohio could contribute more than $20 million in additional EBITDA.

Zacks Equity Research identifies Tenet Healthcare, Universal Health Services, Acadia Healthcare, and Community Health Systems as hospital stocks worth watching amid a structural shift toward lower-cost care settings. The Zacks Medical-Hospital industry is seeing the fastest growth in ambulatory surgery centers, home health, and post-acute care, while hospitals face elevated costs and reimbursement uncertainty. The industry carries a Zacks Industry Rank of 107, placing it in the top 43% of nearly 250 industries, and its 2026 earnings estimates have risen 5.7% over the past year. Tenet Healthcare is expanding its ambulatory care segment, with consensus 2026 earnings per share of $17.61, up 5% year over year. Universal Health Services is growing through tuck-in acquisitions and facility expansion, with 2026 earnings per share estimated at $23.47, an 8% increase. Acadia Healthcare is seeing rising patient days and strong demand for mental health treatment, with 2026 earnings per share of $1.50 and a projected 14.8% jump in 2027. Community Health Systems is benefiting from lower expenses and improving payer mix, with 2026 revenues pegged at $11.56 billion and shares up 15.9% in the past month.

Acadia Healthcare is shifting its strategy from pursuing growth to maximizing returns from its existing footprint, limiting planned 2026 capital expenditures to a range of $255 million to $280 million. The largest standalone behavioral health provider in the United States, operating 275 facilities and more than 12,400 beds across 40 states, reported first-quarter 2026 revenues rose 7.6% year over year to $828.8 million. Management raised its full-year adjusted EBITDA guidance from $575-$610 million to $580-$615 million. The company has also resolved legacy billing disputes, strengthened compliance standards, and brought back Debbie Osteen as CEO. Shares of Acadia have gained 20.9% over the past year, compared to an 8.4% decline for the industry.