<div id="readability-page-1">11:14 AM EST, 12/03/2025 (MT Newswires) -- Acadia Healthcare's ( ACHC ) adjusted EBITDA outlook for 2025 has been reduced as rising professional and general liability expenses continue to affect the company's financial projections, BofA Securities said in a Wednesday note.The brokerage also noted potential Medicaid spending reductions under the Reconciliation Act as an additional factor that could affect next year's results.The comments follow Acadia's guidance revision on Tuesday, when the company lowered its 2025 adjusted EBITDA guidance to $601 million to $611 million, down from $650 million to $660 million, and cut its adjusted earnings forecast to $1.94 to $2.04 per share.Acadia also raised its estimate for 2025 professional and general liability costs to about $116 million, up from $54 million in 2024, reflecting higher expected expenses tied mainly to patient-related litigation.BofA said the updated guidance amounts to a $49 million, or roughly 7%, reduction in adjusted EBITDA. The firm said elevated liability costs are expected to persist into 2026, driven by higher anticipated settlements on older claims, a 168% jump in 2025 claim frequency, increased reserves, and less favorable reinsurance terms.Acadia projects PLGL expenses of $100 million to $110 million in 2026, below the 2025 peak but still more than double 2024 levels. The brokerage said the surge in claims activity raises concerns about additional litigation-related costs beyond next year.BofA added that the higher expense burden compounds existing pressures, including payor dynamics and soft volumes. Lower projected EBITDA is also expected to push leverage higher and make the company's previously anticipated free-cash-flow improvement in 2026 more difficult to achieve.The firm downgraded the stock to underperform from neutral and cut its price objective to $13 from $21.50.Shares of Acadia Healthcare ( ACHC ) were down nearly 13% in recent trading.Price: 14.38, Change: -2.11, Percent Change: -12.80 MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</div>

阿卡迪亞醫療保健

根據美銀證券的報告，阿卡迪亞醫療保健因保險成本上升下調了 2025 年的調整後 EBITDA 預期。該公司修訂了指引，將 EBITDA 降低至 6.01 億至 6.11 億美元，預計每股收益為 1.94 至 2.04 美元。責任成本預計將顯著上升，影響財務預測。美銀將阿卡迪亞的股票評級下調至表現不佳，並將其目標股價下調至 13 美元。股價下跌近 13%

美國銀行表示，阿卡迪亞醫療保健因保險成本增加而下調了 2025 年的預期