Acadia Healthcare's (ACHC) revenue and adjusted earnings before interest, taxes, depreciation and amortization for 2024 are expected to be affected by "softer-than-expected" volumes, RBC Capital Markets said in a note Monday.
The firm cut its revenue forecast to $3.16 billion from $3.20 billion and its adjusted EBITDA estimate to $730.1 million from $750.1 million on the anticipated soft volumes, partially offset by new facility openings.
For 2025, RBC reduced its revenue forecast for Acadia to $3.45 billion from $3.53 billion and adjusted EBITDA estimate to $781.4 million from $820.6 million in anticipation of "some volume softness" continuing through H1 of 2025.
The firm noted that the company's management attributed the softer volumes to the negative headlines that have surrounded Acadia since late September, when the company disclosed requests for information and subpoenas from separate agencies.
RBC lowered its price target on the company to $64 from $94 and maintained its outperform rating.
Acadia shares were down 3.4% in recent trading.
Price: 36.52, Change: -1.30, Percent Change: -3.44
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