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ACHC 8-K filings, explained
Every material Form 8-K Acadia Healthcare has filed with the SEC since February 27, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Acadia Healthcare reported third-quarter 2026 revenue of $895.3 million, up 5.1% from a year earlier, while net income attributable to the company fell to $34.5 million, or $0.38 per diluted share, from $0.40. The company raised its full-year 2026 guidance for adjusted EBITDA and adjusted earnings per share, but the quarter included a $13.4 million favorable benefit from a Florida supplemental payment program accrual. Shareholders see higher revenue and a higher outlook alongside lower per-share profit in the quarter.
Q3 2026 revenue was $895.3 million, up 5.1%; same-facility revenue rose 5.2%.
Net income attributable to Acadia was $34.5 million, or $0.38 per diluted share, versus $0.40 a year earlier; adjusted EPS was $0.60 versus $0.72.
Full-year 2026 adjusted EPS guidance was raised to $1.70 to $1.80 from $1.45 to $1.60; adjusted EBITDA guidance was raised to $615 to $625 million from $590 to $615 million.
Net leverage ratio was 3.9x Adjusted EBITDA as of September 30, 2026; cash and cash equivalents were $163.3 million.
Acadia Healthcare reported second-quarter 2026 results on July 28, 2026. Revenue was $865.8 million, roughly flat from a year earlier, while net income attributable to Acadia fell to $10.9 million, or $0.12 per diluted share, from $30.1 million, or $0.33, and Adjusted EBITDA dropped 26% to $149.2 million, including a $28.6 million professional and general liability reserve adjustment. The company raised the low end of its full-year 2026 ranges for revenue, Adjusted EBITDA, Adjusted EPS and operating cash flow, and lowered the top end of its capital expenditure range, which matters to shareholders because it shows weaker quarterly profit alongside a modestly higher outlook.
Revenue $865.8 million vs. $869.2 million in Q2 2025; same-facility revenue flat year over year
Net income attributable to Acadia $10.9 million, or $0.12 per diluted share, vs. $30.1 million, or $0.33, a year earlier
Full-year 2026 Adjusted EPS guidance $1.45 to $1.60, up from $1.35 to $1.60 in April; Adjusted EBITDA $590 million to $615 million vs. $580 million to $615 million
Conference call scheduled for Wednesday, July 29, 2026, at 9:00 a.m. Eastern Time
Acadia Healthcare reported first-quarter 2026 revenue of $828.8 million, up 7.6% from a year earlier, but reported and adjusted earnings per diluted share both fell. The company raised its full-year 2026 adjusted EBITDA and adjusted EPS guidance and issued second-quarter guidance, which matters to shareholders because the higher outlook is set against lower quarterly per-share earnings.
Revenue was $828.8 million, up 7.6%; same-facility revenue rose 7.3%
Reported EPS was $0.05 versus $0.09; adjusted EPS was $0.37 versus $0.40
Full-year 2026 adjusted EBITDA guidance raised to $580 to $615 million from $575 to $610 million
Full-year adjusted EPS guidance raised to $1.35 to $1.60 from $1.30 to $1.55; second-quarter revenue guidance is $835 to $850 million
Acadia Healthcare said CFO Todd Young will resign effective April 30, 2026, to take a CFO role at a private equity-backed animal health company. The board appointed former CFO David Duckworth as interim CFO effective May 1, 2026, and the company reaffirmed its first-quarter and full-year 2026 guidance, so the financial outlook is unchanged.
Todd Young resigns as CFO effective April 30, 2026, and will join the first-quarter earnings call on April 30.
David Duckworth, CFO from July 2012 to July 2023, becomes interim CFO effective May 1, 2026, and is expected to serve at least until a permanent CEO is named.
Duckworth's employment agreement sets a base salary at a monthly rate of $100,000 and a quarterly cash bonus of $125,000.
Guidance reaffirmed: full-year 2026 revenue of $3.37 to $3.45 billion and adjusted EPS of $1.30 to $1.55; first-quarter results due after the close on April 29.
Acadia Healthcare appointed Daniel Cancelmi, former Executive Vice President and Chief Financial Officer of Tenet Healthcare, as a Class III director effective March 12, 2026. Director Wade Miquelon will not stand for reelection and retires at the 2026 annual meeting, when the board returns to 10 members. The company said the appointment followed engagement with Khrom Capital and that it continues to evaluate all paths to deliver enhanced shareholder value.
Daniel Cancelmi appointed to the board effective March 12, 2026, and will serve on the Audit Committee
Wade Miquelon informed the board on March 9, 2026, of his decision to retire at the 2026 annual meeting
Board size increases from 10 to 11 now and returns to 10 when Miquelon's retirement takes effect
Cancelmi was selected after a search led by the Nominating and Corporate Governance Committee, following engagement with Khrom Capital
Acadia Healthcare reported fourth-quarter 2025 revenue of $821.5 million, up 6.1% year over year, but posted a net loss of $(13.02) per diluted share compared with net income of $0.35 a year earlier, driven by a $996.2 million non-cash goodwill impairment charge. Adjusted earnings per diluted share fell to $0.07 from $0.64, and the company also gave 2026 guidance calling for revenue of $3.37 to $3.45 billion and adjusted EBITDA of $575 to $610 million, with Debbie Osteen announced as chief executive officer.
Q4 2025 adjusted EBITDA was $99.8 million, compared with $153.1 million a year earlier, including a $52.7 million adjustment to professional and general liability reserves.
Full-year 2025 revenue was $3,312.8 million, up 5.0%, while the full-year net loss was $(12.16) per diluted share.
2026 guidance: revenue of $3.37 to $3.45 billion, adjusted EBITDA of $575 to $610 million, and adjusted earnings per diluted share of $1.30 to $1.55.
Debbie Osteen is identified as Chief Executive Officer; the conference call is scheduled for February 25, 2026 at 9:00 a.m. Eastern Time.
Acadia Healthcare's Chief Executive Officer Christopher Hunter left the role and the Board of Directors effective January 20, 2026. His separation agreement provides cash severance, a $1,785,000 retention bonus payment, and continued eligibility for 2025 bonus and prorated performance stock units, while unvested equity was forfeited.
Departure effective January 20, 2026; Hunter also resigned from the Board
Severance equal to 1.5 times base salary plus 2025 target bonus, paid over 18 months
Acadia Healthcare said Christopher H. Hunter left his role as chief executive and the Board effective January 20, 2026, and that Debra K. Osteen, a former CEO from 2018 to 2022, has been appointed CEO and a Class I director. The company also reaffirmed its 2025 financial guidance, leaving revenue, Adjusted EBITDA and adjusted earnings per share outlook unchanged, and said the Board is conducting a search for a long-term successor.
Osteen's employment agreement sets a base salary of $1,061,000 and a target bonus of 125% of base salary.
Osteen received a stock option on 1,125,000 shares, with 750,000 shares in Tranche 1 vesting only if the 30-day VWAP reaches $25.00, $35.00 and $45.00.
2025 guidance reaffirmed: revenue of $3.28 billion to $3.30 billion, Adjusted EBITDA of $601 million to $611 million, and adjusted EPS of $1.94 to $2.04.
Hunter is expected to enter a separation and release agreement; its material terms will be disclosed in a later Form 8-K, and no terms were given in this filing.
Acadia Healthcare said it is reaffirming its 2025 financial guidance, first set in its November 5, 2025 earnings release and updated by a December 2, 2025 press release, in connection with its presentation at the 44th Annual J.P. Morgan Healthcare Conference on January 13, 2026. The filing contains no new 2025 results and no change to the guidance ranges, so it gives shareholders a reconfirmation of the company's existing outlook.
Revenue guidance reaffirmed at $3.28 billion to $3.30 billion for 2025.
Adjusted EBITDA guidance reaffirmed at $601 million to $611 million for 2025.
Adjusted earnings per share guidance reaffirmed at $1.94 to $2.04 for 2025.
Live webcast of the presentation starts at 5:15 p.m. Pacific Time on January 13, 2026, with a replay available for thirty days.
Acadia Healthcare reported third-quarter 2025 revenue of $851.6 million, up 4.4% year over year, but diluted earnings per share fell to $0.40 from $0.74 and adjusted EBITDA fell to $173.0 million from $194.3 million. The company lowered its full-year 2025 revenue, adjusted EBITDA and adjusted EPS guidance, and COO Dr. Nasser Khan resigned effective November 3, 2025.
Q3 revenue $851.6 million, up 4.4%; same-facility admissions up 3.3%
Net income attributable to Acadia $36.2 million, or $0.40 per diluted share, vs $0.74 a year earlier
Full-year adjusted EBITDA guidance cut to $650 million to $660 million from $675 million to $700 million
Dr. Nasser Khan resigned as COO effective November 3, 2025; receives a $515,000 lump-sum payment by March 15, 2026
Acadia Healthcare appointed Todd Young as Chief Financial Officer, effective October 27, 2025, replacing interim CFO Timothy Sides, who will return to his prior Senior Vice President, Operations Finance role. Young most recently served as CFO of Elanco Animal Health, and his employment agreement sets a $725,000 base salary and a target annual bonus of 85% of base salary beginning with 2026.
Todd Young becomes CFO effective October 27, 2025; Timothy Sides served as interim CFO and returns to Senior Vice President, Operations Finance.
Young was CFO of Elanco Animal Health from November 2018, and previously CFO of ACADIA Pharmaceuticals from August 2016 to October 2018.
Employment agreement includes a $725,000 base salary, a $460,000 one-time cash award, and $1,200,000 in one-time restricted stock units.
Severance eligibility applies on termination without Cause or resignation for Good Reason, including 12 months of base salary.
Acadia Healthcare reported second-quarter 2025 revenue of $869.2 million, up 9.2% from a year earlier, but net income attributable to the company fell to $30.1 million, or $0.33 per diluted share, from $78.5 million, or $0.85. The company also updated its 2025 guidance and said CFO Heather Dixon will step down effective August 15, 2025, with Senior Vice President Tim Sides named interim CFO effective August 16, 2025.
Q2 2025 revenue $869.2 million, up 9.2%; adjusted EPS $0.83 versus $0.91 in Q2 2024
Net income attributable to Acadia $30.1 million, or $0.33 per diluted share, versus $78.5 million, or $0.85, a year earlier
2025 guidance: revenue $3.3 billion to $3.35 billion; adjusted EPS $2.45 to $2.65; startup losses $60 million to $65 million, a $10 million increase
CFO Heather Dixon resigns effective August 15, 2025; Tim Sides becomes interim CFO effective August 16, 2025 at a $445,000 base salary
Acadia Healthcare reported first-quarter 2025 revenue of $770.5 million, up slightly from $768.1 million a year earlier, but net income attributable to the company fell to $8.4 million, or $0.09 per diluted share, from $76.4 million, or $0.83. The company affirmed its full-year 2025 guidance, which includes $2.50 to $2.80 in adjusted earnings per diluted share.
Revenue was $770.5 million versus $768.1 million in Q1 2024, a 0.3% increase.
Net income attributable to Acadia was $8.4 million ($0.09 per diluted share), down from $76.4 million ($0.83) a year earlier.
Adjusted EBITDA was $134.2 million versus $173.9 million, and transaction, legal and other costs were $31.1 million, including $31.0 million of government investigation costs.
Full-year 2025 guidance was affirmed, including revenue of $3.3 to $3.4 billion and adjusted EBITDA of $675 to $725 million.
Acadia Healthcare Company entered into an indenture dated March 10, 2025 for $550 million of 7.375% senior unsecured notes maturing March 15, 2033, sold in a private offering to qualified institutional and non-U.S. buyers. The company said it will use the proceeds to prepay outstanding borrowings under its senior secured revolving line of credit, which replaces floating-rate revolver debt with fixed-rate notes and adds $550 million of long-term debt to its balance sheet.
Notes total $550 million in principal, up $50 million from the $500 million launched March 5, 2025, and were offered at 100% of principal.
Interest of 7.375% per year is payable semi-annually on March 15 and September 15, starting September 15, 2025.
The company may redeem the notes on or after March 15, 2028, and may redeem up to 40% before then using equity offering proceeds at 107.375% of principal.
The indenture limits additional debt, liens, dividends, stock buybacks, asset sales and mergers, and the offering was expected to close March 10, 2025.
Acadia Healthcare entered a new credit agreement with JPMorgan Chase Bank as administrative agent, providing a $1 billion revolving facility and a $650 million term loan, both maturing February 28, 2030. The company used the proceeds to refinance obligations under its prior credit agreement, which it terminated, and the new facilities carry floating interest rates and financial covenants.
New $1 billion revolving facility and $650 million term loan, both maturing February 28, 2030
Proceeds used to refinance obligations under the Existing Credit Agreement, which was dated March 17, 2021 and scheduled to mature March 17, 2026
Borrowings bear floating rates: SOFR plus 1.375% to 2.250%, or base rate plus 0.375% to 1.250%, based on net leverage
Covenants include a Consolidated Total Net Leverage Ratio of no more than 5.0 to 1.0 and Interest Coverage of at least 3.0 to 1.0
Acadia Healthcare reported fourth-quarter 2024 revenue of $774.2 million, up 4.2% from a year earlier, but net income attributable to Acadia fell to $32.6 million, or $0.35 per diluted share, from $57.7 million, or $0.63, in the prior-year quarter. The company also issued 2025 guidance, including revenue of $3.3 to $3.4 billion and adjusted EPS of $2.50 to $2.80, and authorized a $300 million share repurchase program.
Q4 2024 revenue $774.2 million, up 4.2%; adjusted EBITDA $153.1 million versus $171.6 million a year earlier
Full-year 2024 revenue $3.15 billion, up 7.7%; net income attributable to Acadia $255.6 million versus a loss of $21.7 million in 2023
2025 guidance: revenue $3.3 to $3.4 billion, adjusted EBITDA $675 to $725 million, adjusted EPS $2.50 to $2.80
Board authorized share repurchases of up to $300 million with no expiration date; conference call scheduled February 28, 2025
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