阿卡迪亚医疗公司因2025年指引下调而股价下跌

2025-12-03 06:47

Acadia Healthcare (ACHC) is down ~23% in after-hours trading Tuesday after revealing it will lower its 2025 guidance due to a significant increase in professional and general liability (PLGL) expenses.
Full-year adjusted EPS is now seen at $1.94-$2.04, down from $2.35-$2.45 prior. Consensus is $2.35. Adjusted EBITDA in now projected at $601M-$611M, down from $650M-$660M before.
PLGL expenses are now projected at $116M compared to the $54M incurred in 2024. However, its net PLGL liability at the end of 2025 is projected at $145M-$165M compared to $78M on Dec. 31, 2024.
Acadia attributed the increase to several factors: higher than expected settlement costs for claims related to policy years prior to Sept. 1, 2024; a 168% increase in claim frequency during the 2025 policy year (Sept. 1, 2024-Aug. 31, 2025) compared to 2024; higher incurred-but-not-reported reserves; and less favorable reinsurance coverage terms versus prior years.
In 2026, PLGL expenses are expected to be $100M-$110M.

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