2Q Wrap: Operational Turnaround Progressing and Payer Environment Continues to Stabilize; PLGL Reserves Remain a Focus

研报英文原文证据摘录

2Q Wrap: Operational Turnaround Progressing and Payer Environment Continues to Stabilize; PLGL Reserves Remain a Focus

Global Research

29 July 2026ab

Acadia Healthcare Company Inc Equities

United States2Q Wrap: Operational Turnaround Progressing

and Payer Environment Continues to Stabilize; Healthcare Providers

12-month rating BuyPLGL Reserves Remain a Focus

12m price target US$41.00

Prior : US$39.00

On the evening of July 28th, ACHC reported 2Q26 adj. EBITDA of $149 mln, in line with Price (28 Jul 2026) US$32.69

consensus. Results included $26 mln of EBITDA from the Florida DPP, which was offset

RIC: ACHC.O BBG: ACHC US

by a $28.6 mln adjustment to the company's professional and general liability reserves

(PLGL). ACHC raised its 2026 adj. EBITDA guidance by $5 mln at the midpoint. We raise Trading data and key metrics

our PT to $41 (prev. $39) on modestly higher estimates (Our First Look). 52-wk range US$35.61-11.68

Market cap. US$3.01b

Operational Turnaround Underway: New Facilities Opening on Schedule Shares o/s 92.0m (COM)

With the return of ACHC's previous CEO and CFO over the past 6 months, the company Free float 100%

has emphasized a "back-to-basics" strategy focused on execution, accountability, and Avg. daily volume ('000) 3,135

leadership. The company has restructured its acute service line, reduced management Avg. daily value (m) US$86.8

layers, enhanced performance monitoring through new dashboards, and strengthened

Common s/h equity (12/26E) US$2.07b

leadership across the organization. Management believes these changes have

P/BV (12/26E) 1.4x

accelerated facility licensing, payer contracting, and occupancy ramps while improving

Net debt to EBITDA (12/26E) 3.7x

expense management. As a result, new facilities have exceeded startup expectations for