FRANKLIN, Tenn. (AP) _ Acadia Healthcare Co. (ACHC) on Monday reported first-quarter profit of $33.5 million.
The Franklin, Tennessee-based company said it had profit of 38 cents per share. Earnings, adjusted for one-time gains and costs, came to 42 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The provider of inpatient behavioral health care services posted revenue of $782.8 million in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $791.2 million.
Acadia Healthcare shares have declined 35% since the beginning of the year. In the final minutes of trading on Monday, shares hit $21.58, a decrease of 33% in the last 12 months.