Short answer
Acadia Healthcare Company Inc (ACHC) filed its fiscal 2018 10-K annual report with the SEC on Mar 1, 2019. It reported revenue of $3.0B (+6.2% year over year) and net income of −$176M.
- Top risk flagged: False Claims Act investigations: potential fines, repayment obligations, corporate integrity agreements, and exclusion from government programs
FY2018 key financial metrics · XBRL
- Revenue
- $3.0B
- +6.2% YoY
- Net income
- −$176M
- −187.9% YoY
- Operating margin
- 19.7%
- −1.6 pp YoY
- EPS (diluted)
- −$2.01
- −187.4% YoY
- ROE
- -7.5%
- −15.3 pp YoY
- Operating cash flow
- $414M
- +3.6% YoY
Source: XBRL data from the Acadia Healthcare Company Inc (ACHC) FY2018 10-K on SEC EDGAR. USD.
Acadia Healthcare Company Inc FY2018 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Acquisition-led behavioral healthcare platform, improving facility performance and expanding services across the U.S. and U.K.
- Network expanded to 583 facilities and approximately 18,100 beds across 40 states, the U.K. and Puerto Rico
- Organic growth emphasis: 651 beds added, including 499 at existing facilities and two de novo facilities
- New CEO appointed in December 2018, bringing prior UHS behavioral-health leadership experience
- Approximately 42,100 employees, split between 20,800 U.S. and 21,300 U.K. employees
Management Discussion & Analysis
- Revenue $3.012B, up 6.2% YoY from $2.836B, driven by 5.2% same-facility growth and $36.2M exchange-rate benefit
- Net loss $175.5M, margin -5.9% vs net income $199.6M, margin 7.0%, including $337.9M impairment charge
- Best segment U.S. Facilities: revenue $1.9B, same-facility growth 5.4%; U.K. Facilities revenue $1.1B, growth 4.7% and EBITDA margin change -240bps
- Operating cash flow $416.6M; capex $341.5M, including $267.4M expansion and $74.1M routine spending
- Outlook: approximately 700 beds planned for 2019; risks include U.K. labor shortages, leverage, GBP volatility and regulatory pressures
Risk Factors
- False Claims Act investigations: potential fines, repayment obligations, corporate integrity agreements, and exclusion from government programs
- Brexit uncertainty: U.K. revenue 37% of total, with GBP potentially declining after March 29, 2019
- U.K. staffing shortages: expensive agency personnel and intense competition from NHS, pressuring operating margins
- NHS dominance: in-house beds approximately 70% of U.K. mental-health hospital capacity
- Debt burden: approximately $3.2 billion total debt at December 31, 2018, including variable-rate term loans
Generated from the filing text; verify against the original. How to read a 10-K
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