ACHC · Acadia Healthcare Q2 FY2026 earnings call record财报电话会记录

“We delivered revenue that was above the high end of our guidance range, as well as adjusted EBITDA and adjusted EPS that were near the high end of our guidance.”

“We generated $124 million of free cash flow and reduced our debt by $113 million.”

“After normalizing for the impact of the timing of supplemental payments related to prior periods in Florida and Tennessee, our total revenue growth would have been 2.8% on a year-over-year basis and 3.2% on same-facility revenue growth.”

“Operating cash flow in the second quarter was $162 million, and capital expenditures were $39 million, resulting in free cash flow of $124 million.”

“We repaid $113 million on our debt during the second quarter, and our net leverage ratio at the end of the quarter stood at approximately 4.1x adjusted EBITDA.”

“With respect to capital expenditures, following a review of our ongoing and planned capital projects, we have revised our full year forecast for CapEx to a range of $235 million-$255 million, which includes a range of $120 million-$140 million for the second half of the year.”

“Our updated full year guidance now reflects revenue in a range of $3.4 billion-$3.45 billion, adjusted EBITDA in a range of $590 million-$615 million, adjusted EPS in a range of $1.45-$1.60, and operating cash flow in a range of $350 million-$400 million.”

“I think the year-over-year impact for bad debt was $7 million, which is a little bit better than last quarter.”

“On a year-over-year basis, you mentioned just the improvement on a year-over-year headwind basis from $9 million in the first quarter to a $7 million year-over-year headwind in the second quarter.”

“That improves as we go through the second half of the year because the second quarter or the second half of 2025 is where we saw a step-up in overall bad debts and denials.”

“We do not have, at this point, another de novo or JV project that begins in the fourth quarter or in early 2027, just based on the current pipeline.”

“It's an area that we still feel very positive about and demand remains strong, but we want to make sure that all of our clinics are a first choice in all the regions that we're in.”