Acadia Healthcare (ACHC) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Acadia Healthcare published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Acadia Healthcare reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• The revenue rows are Acadia's four facility types as listed in its release; Acadia has one reportable segment, behavioral healthcare services.
• Q3 2026 adjusted EBITDA includes a $13.4 million accrual for expected payments from the Florida supplemental payment program, against $5.6 million in Acadia's previous guidance.
• Q4 2025 GAAP EPS of $(13.02) reflects a non-cash goodwill impairment charge of $996.2 million.

Source: Acadia Healthcare Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Acadia Healthcare splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Acadia Healthcare's Acute Inpatient Psychiatric Facilities revenue was $525 million in Q3 2026, up 11% from $472 million in Q3 2025, 59% of total revenue.
• Acadia Healthcare's Specialty Treatment Facilities revenue was $136 million in Q3 2026, down 8% from $148 million in Q3 2025, 15% of total revenue.
• Acadia Healthcare's Comprehensive Treatment Centers revenue was $141 million in Q3 2026, down 2% from $145 million in Q3 2025, 16% of total revenue.
• Acadia Healthcare's Residential Treatment Centers revenue was $93.4 million in Q3 2026, up 7% from $87.5 million in Q3 2025, 10% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Acadia gives its outlook as a table in the release. November guidance for full year 2026: revenue of $3.44 to $3.46 billion (July: $3.40 to $3.45 billion), adjusted EBITDA of $615 to $625 million (July: $590 to $615 million), adjusted EPS of $1.70 to $1.80 (July: $1.45 to $1.60), operating cash flow of $375 to $400 million and capital expenditures of $210 to $230 million.

In its Q3 2026 release, Acadia Healthcare said:

“The Company's guidance does not include the impact of any future acquisitions, divestitures, transaction, legal and other costs or non-recurring legal settlements expense.”

Source: Acadia Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the ACHC forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS attributable to Acadia, each as first reported in that quarter's release. Acadia reports in thousands; revenue is rounded to the nearest $0.1 million.

We do not hold a confirmed date for Acadia Healthcare's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Acadia Healthcare's revenue rose 5.1% to $895.3 million in Q3 2026, from $851.6 million. Acute inpatient psychiatric facilities brought in $524.8 million, more than half the total, followed by comprehensive treatment centers at $141.1 million, specialty treatment facilities at $136.0 million and residential treatment centers at $93.4 million. Facilities closed over the last twelve months reduced reported revenue growth by 1.3%. (Acadia Q3 2026 release, Nov 4, 2026)

Same-facility revenue rose 5.2%, with patient days up 1.1% and revenue per patient day up 4.0%. Acute revenue grew 11.3% as Acute inpatient volumes rose 7.5%, which Acadia attributes mainly to expanded capacity at new and existing facilities. Specialty revenue fell 8.2%, which Acadia ties to its Specialty facilities in Pennsylvania and to closing several Specialty facilities over the last 12 months. (Acadia Q3 2026 release, Nov 4, 2026)

Medicaid is Acadia's largest payer: $551.4 million, or 61.6% of Q3 2026 revenue, up from 57.2% a year earlier. Commercial payers were 20.9%, down from 24.5%, and Medicare 14.8%. The release lists the OBBBA's changes to Medicaid financing and its work requirements for the Medicaid expansion population among the risks to future results. (Acadia Form 10-Q, Q3 2026, Nov 4, 2026; Acadia Q3 2026 release, Nov 4, 2026)

Acadia operates 280 behavioral health facilities across 40 states and Puerto Rico. It added 220 licensed beds in the quarter, including a 144-bed de novo facility near Jacksonville, Florida and 76 beds at existing facilities. (Acadia Q3 2026 release, Nov 4, 2026)

Acadia Healthcare's GAAP diluted EPS was $0.38 and its adjusted EPS was $0.60 in Q3 2026, against $0.40 and $0.72 a year earlier. The main exclusion is transaction, legal and other costs of $23.7 million, of which $18.3 million was for government investigations; adjusted results also exclude a $7.2 million legal settlements gain and a $3.5 million impairment loss. (Acadia Q3 2026 release, Nov 4, 2026; Acadia Form 10-Q, Q3 2026, Nov 4, 2026)

The effective tax rate rose to 31.6% from 4.2%, which Acadia attributes to higher nondeductible legal settlements and larger valuation allowances on certain state deferred tax assets; the year-ago quarter also had a benefit from releasing uncertain tax positions. Pre-tax income rose to $56.5 million from $40.0 million, but net income attributable to Acadia slipped to $34.5 million from $36.2 million. (Acadia Form 10-Q, Q3 2026, Nov 4, 2026; Acadia Q3 2026 release, Nov 4, 2026)

Diluted shares were 91,746 thousand against 90,584 thousand a year earlier. Salaries, wages and benefits, the largest cost, rose 6.1% to $490.3 million, mainly from new facility openings and annual wage increases. (Acadia Q3 2026 release, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Acadia Healthcare raised its full-year 2026 guidance with the Q3 results. It now expects revenue of $3.44 to $3.46 billion, adjusted EBITDA of $615 to $625 million and adjusted EPS of $1.70 to $1.80, against July ranges of $3.40 to $3.45 billion, $590 to $615 million and $1.45 to $1.60. It cut its capital expenditure range to $210 to $230 million from $235 to $255 million. (Acadia Q3 2026 release, Nov 4, 2026)

Acadia says it now expects about $60 million of incremental EBITDA in 2027 relative to 2026 from the 16 new acute facilities it opened over the last four years. (Acadia Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Acadia Healthcare, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Acadia Healthcare's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning ACHC is on is ACHC a buy or a sell?, what analysts expect next is on the ACHC forecast, and what the company does is on the Acadia Healthcare (ACHC) stock page.

Every number on this page can be traced to a document Acadia Healthcare published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.