01:05 PM EDT, 08/01/2024 (MT Newswires) -- (Updates to add stock move in the headline and the first paragraph.)

Acadia Healthcare ( ACHC ) shares rose nearly 14% in recent Thursday trading after the company reported Q2 results that surpassed market expectations.

The company reported Q2 adjusted earnings late Wednesday of $0.91 per diluted share, down from $0.92 a year earlier.

Analysts polled by Capital IQ expected $0.88.

Revenue for the quarter ended June 30 was $796 million, compared with $731.3 million a year earlier.

Analysts surveyed by Capital IQ expected $784.8 million.

For full-year 2024, the company narrowed its adjusted EPS outlook to now be between $3.45 and $3.65 from the prior range of between $3.40 and $3.70. Analysts surveyed by Capital IQ expect $3.52.

Revenue for the full year is projected to be between $3.18 billion and $3.23 billion from the prior outlook of between $3.18 billion and $3.25 billion. Analysts surveyed by Capital IQ expect $3.21 billion.

Price: 73.81, Change: +8.96, Percent Change: +13.82