RTTNews | Oct 30, 2020 10:16AM EDT

10:16 Friday, October 30, 2020 (RTTNews.com) - Shares of Acadia Healthcare Company, Inc. (ACHC) are jumping over 20% on Friday morning after the company reported third-quarter results that trumped Wall Street estimates and issued a fourth-quarter outlook, which is above current expectations.

ACHC is currently trading at $34.99, up $6.01 or 20.74%, on the Nasdaq.

Third-quarter profit dropped to $37.0 million or $0.42 per share from $42.6 million or $0.48 per share last year. Adjusted earnings were $0.68 per share, up from $0.52 per share last year. Revenues rose to $833.3 million from $777.3 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.54 per share and revenues of $803.72 million.

Looking forward to the fourth quarter, Acadia expects adjusted earnings of $0.68 to $0.72 per share and revenues of $810 million to $835 million. Analysts currently expect earnings of $0.56 per share on revenues of $815.05 million.

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