AI-extracted from the 10-Q filed 2026-07-28 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Acadia Healthcare posted flat Q2 revenue of $865.8M while earnings declined 64% YoY amid higher labor costs and a $28.6M professional liability charge.
Biggest Revenue Drivers
Medicaid$540.2M+3.6% YoY
Medicaid represented 62.4% of revenue, up from 60.0% in Q2 2025
Commercial$185.8M-8.9% YoY
Commercial decreased to 21.5% of revenue from 23.5% in prior year
Biggest Revenue Drivers
Total revenue: $865.8M-0.4% YoY
Medicaid$540.2M+3.6% YoY
Medicaid represented 62.4% of revenue, up from 60.0% in Q2 2025
Commercial$185.8M-8.9% YoY
Commercial decreased to 21.5% of revenue from 23.5% in prior year
Medicare$122.3M+2.8% YoY
Medicare revenue represented 14.1% of total revenue
Largest Expense Items
Salaries, wages and benefits$474.1M+4.8% YoY
SWB increased to 54.8% of revenue from 52.0%; wage inflation pressures persist despite stable labor costs
Professional fees$55.8M+11.6% YoY
Professional fees increased to 6.4% of revenue from 5.7% in prior year
Interest expense, net$38.2M+8.6% YoY
Increased primarily due to higher borrowing levels and new debt issuances
Margins: Operating margin compressed to 2.5% of revenue from 5.8% YoY, driven by elevated labor costs (up 280 basis points as % of revenue), the $28.6M liability adjustment, and higher interest expense. Same-facility operating expenses as a percent of revenue deteriorated materially.
Watch Items from the Filing
Medicaid concentration: 62.4% of revenue from Medicaid programs; recent legislation (OBBBA) restricts state provider assessments and caps Medicaid managed care payment rates at Medicare levels starting January 2028, creating downside revenue risk.
Professional liability reserves: $28.6M unfavorable actuarial adjustment in Q2 for prior-year claims; total reserve reached $224.7M (up from $181.8M at year-end), indicating elevated litigation/settlement exposure.
Government investigations: DOJ Criminal Division and SEC investigating acute care service line admissions, length of stay, and billing practices; no findings yet, but comprehensive internal investigation ongoing with broad federal agency coordination.
Leverage ratio: Consolidated Total Net Leverage Ratio of 4.1x at June 30, 2026; near covenant limit of 5.0x; any adverse litigation outcomes or revenue pressure could trigger covenant violations.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
1 transaction in ACHC reported by 1 member of Congress under the STOCK Act, most recent trade Nov 30, 2022. Reported transactions, not recommendations.
About Acadia Healthcare Company, Inc. (ACHC): stock profile, AI score and financials
Acadia Healthcare Company, Inc. (ACHC) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores ACHC at 35.4/100 on a composite quality score built from its SEC filings, placing it at rank #2,296 of 2,925 stocks — the bottom half of the AI-ranked universe. Areas of concern include balance sheet strength (11.3) and profitability (12.4), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), Acadia Healthcare Company, Inc. reports quarterly revenue of $865.8M, net income of $10.9M, an operating margin of 2.5%. Top institutional holders of ACHC by reported 13-F value include BlackRock, WELLINGTON MANAGEMENT GROUP LLP, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. ACHC trades on the Nasdaq exchange and files with the SEC under CIK 1520697. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate ACHC daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Acadia Healthcare Company, Inc. directly from SEC EDGAR.