Every 8-K that Acadia Healthcare Company, Inc. (ACHC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow ACHC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ACHC filings page.
Acadia Healthcare Company, Inc. (ACHC) said the U.S. District Court for the Middle District of Tennessee preliminarily approved a proposed settlement of shareholder derivative actions on September 1, 2026. The proposed terms call for Defendants’ Side A-DIC insurance carriers to pay Acadia $12,000,000 within 30 days from the later of entry of the preliminary approval order and Acadia’s delivery of complete payment instructions. Acadia must return the payment within 10 business days after notice if the settlement fails to become effective.
Acadia also agreed to pay $4,750,000 in attorneys’ fees and expenses, subject to court approval. The governance reforms address disclosure review, insider-trading and whistleblower policies, clawback rules, quality and compliance reporting, executive compensation review, and technology oversight. The company is to adopt, implement and maintain the reforms within 90 days after issuance of a final approval order, for at least four years from the later of settlement effectiveness or reform adoption. Final court approval of the settlement and fee amount remains pending.
Acadia Healthcare Company, Inc. reported second quarter 2026 revenue of $865.8 million, approximately flat versus the prior year, while net income attributable to Acadia fell to $10.9 million from $30.1 million. Adjusted EBITDA declined to $149.2 million from $201.8 million and Adjusted EPS to $0.38 from $0.83, primarily reflecting a $39.3 million increase in PLGL costs, including a $28.6 million adjustment to PLGL reserves, and lower favorable impact from state supplemental payment programs.
Same-facility revenue was flat, with patient days up 0.8% and revenue per patient day down 0.8%, driven by the timing of supplemental payments; after normalizing for these items, management indicates same-facility revenue growth would have been 3.2%. Acute inpatient revenue was flat reported, but up 5.7% on a normalized basis, with Acute volumes up 5.5% due to expanded capacity. Specialty facility revenue decreased 8.4%, while residential treatment revenue increased 11.6%.
Acadia opened a 144-bed joint venture facility with Orlando Health and a 96-bed joint venture facility with Methodist Jennie Edmundson Hospital, plus two new CTC locations, adding 240 beds. As of June 30, 2026, it held $171.3 million in cash, had $669.8 million available under its $1.0 billion revolver, and reported a net leverage ratio of 4.1x Adjusted EBITDA. Full-year 2026 guidance was updated to revenue of $3.40–$3.45 billion, Adjusted EBITDA of $590–$615 million, Adjusted EPS of $1.45–$1.60, operating cash flow of $350–$400 million, and capital expenditures of $235–$255 million.
Acadia Healthcare Company, Inc. held its annual meeting of stockholders on May 6, 2026. Stockholders elected three Class III directors—Daniel J. Cancelmi, Michael J. Fucci and Patrice A. Harris, M.D., M.A.—each receiving over 73.5 million votes in favor.
Investors also approved a second amendment to the Amended and Restated Incentive Compensation Plan, with 80,102,444 votes for and 779,641 against. On a non-binding advisory basis, stockholders approved compensation of the Named Executive Officers, with 60,889,503 votes for and 19,942,924 against.
Finally, stockholders ratified Ernst & Young LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 83,941,435 votes for and 1,947,371 against.
Acadia Healthcare Company, Inc. reported first quarter 2026 revenue of $828.8 million, up 7.6% from $770.5 million a year earlier, driven by 7.3% same-facility revenue growth and higher patient volumes and pricing. Acute inpatient revenue rose 14%, while residential and comprehensive treatment facilities posted modest gains and specialty treatment facilities declined.
Adjusted EBITDA increased to $144.2 million from $134.2 million, but reported diluted EPS fell to $0.05 from $0.09 and adjusted EPS declined to $0.37 from $0.40 as interest expense and legal settlement costs rose. The company added 82 new beds in the quarter, ended with $158.5 million in cash, and reported a 3.9x net leverage ratio. Management raised full-year 2026 guidance, targeting revenue of $3.37–$3.45 billion, adjusted EBITDA of $580–$615 million, and adjusted EPS of $1.35–$1.60.
Acadia Healthcare Company, Inc. reported a planned Chief Financial Officer transition and reaffirmed its first quarter and full-year 2026 financial guidance. Todd Young will resign as CFO effective April 30, 2026 and will participate in the April 30 earnings call.
The Board appointed former CFO David M. Duckworth as Interim CFO and principal financial officer effective May 1, 2026. His employment agreement runs initially through May 1, 2027, with a base salary of $100,000 per month and eligibility for a $125,000 quarterly cash bonus, plus defined severance protections.
The company highlighted Duckworth’s long prior tenure as CFO from 2012 to 2023 and reiterated that its previously issued 2026 outlook remains in place. Acadia also described customary confidentiality, non-competition and indemnification arrangements associated with his role.
Acadia Healthcare Company, Inc. announced board changes involving the retirement of one director and the appointment of another experienced healthcare finance executive. Wade D. Miquelon will retire from the Board at the 2026 annual meeting and will not stand for re-election, with the company stating his decision did not result from any disagreement regarding operations, policies or practices.
The Board expanded from 10 to 11 members and appointed Daniel Cancelmi as a Class III director and member of the Audit Committee, effective immediately, with his term running until the 2026 annual meeting. Following Mr. Miquelon’s retirement, the Board size will revert to 10 members as the number of Class III directors decreases from four to three. The company highlighted Mr. Cancelmi’s long-tenured leadership at Tenet Healthcare and broader healthcare finance experience, and noted there are no special appointment arrangements, family relationships or related-party transactions requiring disclosure.
Acadia Healthcare reported fourth quarter 2025 revenue of $821.5 million, up 6.1%, but posted a net loss of $1.18 billion versus net income of $33.5 million a year earlier, driven largely by a non-cash goodwill impairment of $996.2 million and higher legal and PLGL-related costs.
Adjusted EBITDA fell to $99.8 million from $153.1 million as PLGL expenses rose and a $147 million securities litigation settlement hit results. For full year 2025, revenue grew to $3.31 billion while net loss reached $1.10 billion. For 2026, the company guides to revenue of $3.37–$3.45 billion, adjusted EBITDA of $575–$610 million, and adjusted EPS of $1.30–$1.55, assuming modest same-facility volume and pricing growth and continued startup losses from new facilities.
Acadia Healthcare Company, Inc. reported that Chief Executive Officer Christopher H. Hunter departed his role and resigned from the Board of Directors effective January 20, 2026. Acadia and Mr. Hunter entered into a separation and release agreement that provides several cash and benefit components.
Under the agreement, Mr. Hunter remains eligible to earn his 2025 annual bonus, will receive 1.5 times the sum of his 2025 base salary and target bonus paid over 18 months, and will be reimbursed for 18 months of health and dental insurance premiums. He will also receive a lump-sum cash payment of $1,785,000 tied to a prior retention bonus agreement. A prorated portion of his performance-based restricted stock units may still vest based on actual performance, while all other unvested equity awards were forfeited. These benefits are contingent on his release of claims and compliance with restrictive covenants.
Acadia Healthcare Company, Inc. announced a leadership transition in which Christopher H. Hunter departed as Chief Executive Officer and resigned from the Board, effective January 20, 2026. The Board appointed Debra K. Osteen as Chief Executive Officer, principal executive officer and a Class I director, with her Board term running until the 2027 annual meeting, and she will not receive additional pay for Board service.
Under a new employment agreement effective on the transition date, Ms. Osteen will receive a $1,061,000 annual base salary and be eligible for an annual cash bonus targeted at 125% of base salary. She also received a non-qualified stock option to purchase 1,125,000 shares of Acadia common stock at the January 20, 2026 closing price, with vesting tied to future stock price VWAP hurdles of $25.00, $35.00, and $45.00 and continued service conditions. The agreement includes severance protections for certain terminations and customary confidentiality, non-compete, non-solicitation and non-disparagement covenants.
Acadia Healthcare Company, Inc. is participating in the 44th Annual J.P. Morgan Healthcare Conference and is reaffirming its previously issued 2025 financial guidance that was provided in a November 5, 2025 earnings release and updated in a December 2, 2025 press release. Company representatives will discuss information contained in a slide presentation furnished as an exhibit.
The presentation will be webcast live through Acadia’s investor relations website starting at 5:15 p.m. Pacific / 7:15 p.m. Central on January 13, 2026, with a replay available online for thirty days. The company also reiterates that its forward-looking statements involve risks and uncertainties, highlighting factors such as integration of acquisitions, changes in Medicaid financing following the One Big Beautiful Bill Act, reimbursement trends, liability exposure, debt service needs, cybersecurity risks, and broader economic and industry conditions affecting its behavioral healthcare facilities in the U.S. and Puerto Rico.
Acadia Healthcare (ACHC) agreed to settle a previously disclosed securities case for $179 million, with no admission or finding of liability and subject to preliminary and final approval by the District Court. The Company plans to fund the payment from approximately $30 million in anticipated insurance proceeds, plus cash on hand and existing credit lines.
Acadia will record the aggregate settlement amount, less associated tax benefits, as an expense for the quarter ending December 31, 2025. Because the settlement funds will be excluded from adjusted EBITDA, the Company stated this has no impact on previously announced financial guidance. As of September 30, 2025, cash and cash equivalents were $118.7 million, availability under the $1.0 billion revolving credit facility was $786.7 million, and the Consolidated Total Net Leverage Ratio was 3.4x.
Acadia Healthcare (ACHC) reported leadership changes and furnished quarterly results. The company announced that Chief Operating Officer Dr. Nasser Khan resigned effective November 3, 2025. Acadia entered a transition and separation agreement under which Dr. Khan will serve as executive advisor to the CEO through December 31, 2025 and receive a lump-sum payment of $515,000 no later than March 15, 2026. He remains eligible for a 2025 cash bonus based on actual performance as determined by the Board or its Compensation Committee.
Acadia has begun a search for a new COO, with Dr. Khan’s former responsibilities covered by other executive leaders in the interim. The company also furnished a press release with operating and financial results for the third quarter ended September 30, 2025 as an exhibit.
Acadia Healthcare Company, Inc. disclosed an employment agreement for Todd Young dated October 7, 2025 that sets compensation and relocation terms for his role. The package includes a one-time $460,000 cash award payable by March 31, 2026 if he remains employed through that date, a one-time grant of time-based restricted stock units with a grant-date fair value of $1,200,000 that vest ratably over three years, and a minimum annual equity award for fiscal 2026 with grant-date fair value of at least $2,900,000. The agreement also provides eligibility for severance on certain terminations and reimbursement for reasonable relocation expenses to the greater Franklin, Tennessee area within 12 months of his start date.
Acadia Healthcare Company, Inc. is providing preliminary 2026 guidance and an interim operating update alongside a conference appearance. For 2026, the company expects total capital expenditures to decline by at least $300 million compared with its 2025 capital expenditure guidance of $600 to $650 million, indicating a materially lower investment spend next year. Acadia also expects to add 500 to 700 beds in 2026, including beds already under construction in 2025, highlighting ongoing capacity expansion.
For the third quarter of 2025, Acadia is disclosing a select interim operating metric, reporting same facility patient days growth to date of approximately 1.3%. The company notes that forward-looking statements, including these expectations, are subject to risks such as integration of expansions and acquisitions, changes in government and commercial reimbursement, the impact of the One Big Beautiful Bill Act on Medicaid financing and eligibility, labor and cost pressures, cybersecurity risks, and broader economic conditions.