Acadia (ACHC) Q3 2025 Earnings Call Transcript

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Tue, April 14, 2026 astatine 10:45 AM CDT 34 min read

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Thursday, Nov. 6, 2025 astatine 9 a.m. ET

• Chief Executive Officer — Christopher Hunter

• Chief Financial Officer — Todd Young

Christopher Hunter: Good morning, everyone, and convey you for joining Acadia's Third Quarter 2025 Earnings Call. I'm pleased to beryllium joined contiguous by Todd Young, who precocious joined Acadia arsenic our Chief Financial Officer. Todd brings astir a decennary of nationalist institution CFO experience, astir precocious serving arsenic CFO of Elanco Animal Health wherever helium helped signifier the company's strategical absorption pursuing its spinoff from Eli Lilly. Prior to that, helium served arsenic CFO of Acadia Pharmaceuticals. Todd's heavy acquisition successful wellness attraction finance, superior allocation and operational translation volition beryllium instrumental arsenic we proceed executing our maturation strategy and enhancing shareholder value. I besides privation to convey Tim Sides for his enactment arsenic Interim CFO implicit the past fewer months.

Tim volition present resume his relation arsenic Senior Vice President of Operations, Finance. Likewise, I would similar to instrumentality a infinitesimal to convey Dr. Nasser Khan for his galore contributions to Acadia Healthcare implicit the past 3 years, including astir precocious arsenic our Chief Operating Officer. Nasser is stepping down from the relation of COO and volition proceed to service arsenic an enforcement advisor to the institution done the extremity of the twelvemonth to assistance facilitate a seamless transition. Turning to our 3rd 4th results. We reported gross of $851.6 million, representing a 4.4% summation implicit the 3rd 4th of past year. Adjusted EBITDA was $173 million, compared with $194.3 cardinal successful the anterior twelvemonth period.

As antecedently disclosed, these results bespeak softer-than-expected volumes successful our Medicaid publication of business, peculiarly successful our acute attraction segment. Same-facility measurement maturation was 1.3% successful the quarter, which was accordant with the preliminary commentary we shared astatine the Jefferies Healthcare Services Conference successful precocious September. This was astir 100 ground points beneath our interior expectations. In summation to this accrued unit connected our volumes since our Q2 net telephone successful August, we person besides faced incremental headwinds from rates and payment disbursal related to worker wellness attraction costs, on with an anticipated summation successful nonrecreational and wide liability expense, oregon PLGL.

These items are causing america to trim our adjusted EBITDA guidance for 2025 to $650 cardinal to $660 cardinal from our antecedently issued guidance of $675 cardinal to $700 million. Todd volition instrumentality you done the specifics successful much item aboriginal successful the call. Stepping back, we admit that our operating situation has faced expanding headwinds arsenic we moved done 2025, peculiarly with respect to pressures connected managed attraction companies and accrued uncertainty connected Medicaid backing astatine the authorities level.