Health-clinic operator Acadia Healthcare Co. Inc. ACHC, +0.30% on Monday offered up sales results and forecasts that beat estimates, but a weaker showing for profits. The company, which runs mental-health and addiction-treatment facilities, reported fourth-quarter net income of $63.1 million, or 67 cents a share, compared with $71.5 million, or 77 cents a share, in the same quarter in 2021. Revenue came in at $675.3 million, compared with $593.5 million in the prior-year quarter. Excluding income from a provider relief fund, Acadia earned 70 cents a share, compared with 67 cents a share in the fourth quarter of 2021. Analysts polled by FactSet expected adjusted earnings per share of 75 cents, on revenue of $660.4 million. Acadia updated its 2023 outlook, saying it expected $2.82 billion to $2.88 billion in sales, compared with FactSet forecasts for $2.83 billion, with adjusted earnings per share of $3.10 to $3.40, compared with FactSet forecasts for $3.31 a share. For the first quarter, the company said it expected sales of $690 million to $700 million and adjusted earnings per share of 70 cents to 74 cents, compared with FactSet forecasts for sales of $674 million and 73 cents a share. Shares fell 1.2%.
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