AAC Holdings (AAC) Misses Q3 EPS by 4c

November 3, 2016 6:43 AM EDT

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AAC Holdings (NYSE: AAC) reported Q3 EPS of $0.19, $0.04 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $70.5 million versus the consensus estimate of $73.28 million.

"While many of our core operating metrics continued to demonstrate year-over-year and sequential growth resulting in increasing revenues from our residential and outpatient facilities, lower-than-expected toxicology revenues, a slower than expected ramp up of outpatient visits and census at Laguna, and increased operating expenses had a greater impact on the third quarter results than previously anticipated," noted Michael Cartwright, Chairman and Chief Executive Officer of AAC Holdings, Inc. "With the recent resolution of our subsidiaries' case in California and a robust de novo and M&A pipeline, we remain bullish about our growth opportunities for 2017."

For earnings history and earnings-related data on AAC Holdings (AAC) click here.

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