Acadia Healthcare Company, Inc (ACHC) has reported 20.98 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $41.82 million, or $0.48 a share in the quarter, compared with $34.57 million, or $0.49 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $51.34 million, or $0.59 a share compared with $42.29 million or $0.59 a share, a year ago. Revenue during the quarter surged 41.91 percent to $702.89 million from $495.32 million in the previous year period. Gross margin for the quarter expanded 37 basis points over the previous year period to 95.88 percent. Total expenses were 87.30 percent of quarterly revenues, up from 83.41 percent for the same period last year. That has resulted in a contraction of 389 basis points in operating margin to 12.70 percent.
Operating income for the quarter was $89.29 million, compared with $82.17 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $149.51 million compared with $111.85 million in the prior year period. At the same time, adjusted EBITDA margin contracted 131 basis points in the quarter to 21.27 percent from 22.58 percent in the last year period.
“Acadia performed well during the fourth quarter and throughout 2016,” remarked Joey Jacobs, Chairman and Chief Executive Officer of Acadia. “We produced very strong growth in revenue and adjusted EBITDA, despite the headwinds represented by the decline in the exchange rate of the British Pound Sterling during the year, the unexpected delay in being able to integrate our February 2016 Priory acquisition and the disruption related to fulfilling our undertakings with the Competition and Markets Authority in the U.K. through the sale of 22 behavioral health facilities on November 30, 2016.
For fiscal year 2017, Acadia Healthcare Company, Inc expects revenue to be in the range of $2,850 million to $2,900 million and its adjusted diluted earnings per share to be in the range of $2.40 to $2.50.
For the first-quarter 2017, Acadia Healthcare Company, Inc expects adjusted diluted earnings per share to be in the range of $0.45 to $0.47.
Operating cash flow improves significantly
Acadia Healthcare Company, Inc has generated cash of $361.48 million from operating activities during the year, up 50.36 percent or $121.08 million, when compared with the last year. The company has spent $660.36 million cash to meet investing activities during the year as against cash outgo of $884.47 million in the last year.
Cash flow from financing activities was $358.84 million for the year, down 36.33 percent or $204.76 million, when compared with the last year.
Cash and cash equivalents stood at $57.06 million as on Dec. 31, 2016, up 408.81 percent or $45.85 million from $11.22 million on Dec. 31, 2015.
Working capital increases sharply
Acadia Healthcare Company, Inc has recorded an increase in the working capital over the last year. It stood at $85.06 million as at Dec. 31, 2016, up 1,776.51 percent or $80.53 million from $4.53 million on Dec. 31, 2015. Current ratio was at 1.25 as on Dec. 31, 2016, up from 1.02 on Dec. 31, 2015.
Days sales outstanding went down to 17 days for the quarter compared with 20 days for the same period last year.
At the same time, days payable outstanding went down to 127 days for the quarter from 189 for the same period last year.
Debt increases substantially
Acadia Healthcare Company, Inc has witnessed an increase in total debt over the last one year. It stood at $3,287.81 million as on Dec. 31, 2016, up 46.73 percent or $1,047.06 million from $2,240.74 million on Dec. 31, 2015. Total debt was 54.57 percent of total assets as on Dec. 31, 2016, compared with 52.36 percent on Dec. 31, 2015. Debt to equity ratio was at 1.52 as on Dec. 31, 2016, up from 1.33 as on Dec. 31, 2015. Interest coverage ratio deteriorated to 1.94 for the quarter from 2.85 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
