Acadia Healthcare Company, Inc. (NASDAQ:ACHC) Q4 2023 Earnings Call Transcript

Heather Dixon: Yes. So what you’ll see, Pito, it’s Heather. You’ll see later this afternoon sort of the revenue growth by business line, and CTC was just right at 20%, just right under 20%. So pretty consistent with what we’ve seen in the previous quarters. For Q4, is that the breakout you’re asking for, for Q4 volume versus rates? Or were you asking for or asking for 2024?

Pito Chickering: Either would be lovely.

Heather Dixon: Okay. Great. So for 2023 Q4, we saw the growth in patient days of 2.9% on a same-facility basis. And then the revenue per patient day was 7.1% for 2023, Q4. And then for the full year 2024, we’re expecting mid-single digits for both.

Pito Chickering: Got it. And then so looking out at the fourth quarter with CTC at 20% implies the rest of the business is growing around 9%. So we sort of 2 times the growth coming from CTC. I guess any color on what percent of your 12% EBITDA growth in the quarter came from CTC? Thank you so much.

Heather Dixon: No. I would just say that we continue to see EBITDA margins across those different business lines, relatively consistent. As you look at those from quarter-to-quarter and then across the business lines. The only thing I would point out is our closures during 2023, we had a few closures and of those, there were three that were in the specialty business. So you’ll see a little bit of differentiation there as you look at the revenue contribution by business line. But apart from that, pretty consistent.

Pito Chickering: Great. Thanks so much.

Heather Dixon: No problem.

Operator: Thank you. This concludes today’s question-and-answer session. I would like to turn the conference back over to Chris Hunter for closing remarks.

Chris Hunter: Thank you. Before we end the call, I just want to again thank our committed facility leaders, our clinicians and our over 23,000 dedicated employees across the country who have continued to just work tirelessly to meet the needs of patients in a safe and effective manner. We have a really strong foundation and a proven strategy for driving growth in delivering greater value to both the patients we serve and our shareholders. Thank you all for being with us this morning, and thank you for your interest in Acadia. If you have any additional questions today, please don’t hesitate to contact us directly. Have a great day.

Operator: Thank you. This concludes today’s conference call. We thank you all for attending today’s presentation. You may now disconnect your lines, and have a wonderful day.