Acadia Healthcare announced that former chief financial officer David Duckworth will return as interim CFO, effective May 1, 2026, after the company’s current CFO Todd Young will depart on April 30, 2026. The appointment follows a search for a permanent CEO and is intended to preserve continuity in financial leadership during a period of executive transition.
The company also reaffirmed its financial guidance for the first quarter and full year of 2026. Management projects Q1 revenue of $820 million to $830 million, adjusted EBITDA of $130 million to $137 million, and adjusted EPS of $0.25 to $0.30. For the full year, guidance is $3.37 billion to $3.45 billion in revenue, $575 million to $610 million in adjusted EBITDA, and $1.30 to $1.55 in adjusted EPS. These figures are broadly in line with analyst expectations of $823.7 million in revenue and $0.27 EPS for Q1, and $3.4 billion in revenue and $1.48 EPS for the year.
Acadia’s most recent quarterly results, for Q4 2025, showed revenue of $821.5 million, up 6.1% year‑over‑year and beating the consensus estimate of $800.1 million. Adjusted EBITDA for the quarter was $99.8 million, a decline from $153.1 million in Q4 2024, largely due to higher professional and general liability (PLGL) expenses. The company also recorded a $996.2 million goodwill impairment charge, contributing to a net loss for the year. Government investigation costs were $12 million in Q4 2025, down 69% sequentially.
In Q1 2025, Acadia reported revenue of $770.5 million, slightly above the guidance range of $765 million to $775 million. Adjusted EBITDA was $134.2 million, near the high end of the outlook range, and adjusted EPS was $0.40, exceeding the consensus estimate of $0.36. The stronger-than‑expected earnings were driven by disciplined cost management and a favorable mix of services, offsetting the impact of the goodwill impairment and PLGL expense increases.
The company’s Q1 2026 guidance—revenue $820 million to $830 million, adjusted EBITDA $130 million to $137 million, and adjusted EPS $0.25 to $0.30—reflects a more conservative outlook than the Q1 2025 results. The lower EPS guidance, compared to the $0.40 EPS achieved in Q1 2025, signals management’s anticipation of continued cost pressures and a more cautious revenue outlook, despite the company’s confidence in maintaining operational performance.
Market reaction to the announcement was muted. The stock traded down slightly on the day of the announcement, reflecting investors’ view that the interim CFO appointment and unchanged guidance were continuity measures rather than catalysts for upside. Analyst coverage remained mixed, with some analysts maintaining neutral or hold ratings and price targets below the current share price.
CEO Debra K. Osteen welcomed Duckworth back, stating, “We are pleased to welcome David back as Interim Chief Financial Officer. He brings a deep understanding of Acadia, our operations, and our industry, along with strong relationships with the Company’s leadership team and Board. David’s experience will be invaluable as we continue executing our strategic priorities to position Acadia for near and long‑term success and value creation.” Osteen also thanked Todd Young for his leadership during his tenure.
The company faces several headwinds, including higher PLGL expenses, ongoing government investigation costs, and startup losses associated with new facility openings. A change in the New York Medicaid program is expected to constrain same‑facility growth in 2026. Conversely, Acadia’s strong demand for behavioral health services and its expansion strategy provide tailwinds that support the company’s revenue outlook. The CFO transition, coupled with the reaffirmed guidance, signals management’s confidence in the company’s ability to navigate these challenges while pursuing growth opportunities.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.