Acadia Healthcare reports Q1 adjusted EPS 75c, consensus 71c

Reports Q1 revenue $704.3M, consensus $691.44M. Same facility revenue increased 13.3% compared with Q1 of 2022, including an increase in patient days of 6.5% and an increase in revenue per patient day of 6.4%. The company said, "We are pleased to report a strong start to 2023 for Acadia. With solid execution, we delivered favorable results on our key performance metrics for the first quarter. Our labor costs were in line with our expectations, and our base wage inflation and premium pay showed sequential improvement in the first quarter of 2023 compared with the fourth quarter of 2022. We have continued to see robust demand across our service lines, and we have continued to serve more patients who come to us for care." The company added that its accelerated growth trajectory is on track, including the addition of 106 beds to existing facilities in Q1 and "continued progress towards opening four new inpatient facilities and at least six comprehensive treatments centers in 2023."