AAC Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Updates Earnings Guidance for the Full Year 2018
For the nine months, the company reported total revenues of $242,707,000 compared to $231,505,000 a year ago. Loss from operations was $1,173,000 compared to income of $11,219,000 a year ago. Loss before income tax benefit was $25,156,000 compared to $5,365,000 a year ago. Net loss was $20,254,000 compared to $4,906,000 a year ago. Net loss available to common stockholders was $14,708,000 or $0.61 per basic and diluted share compared to $1,757,000 $0.08 per basic and diluted share a year ago. Net cash used in operating activities was $19,758,000 compared to net cash provided by operating activities of $14,030,000 a year ago. Purchase of property and equipment was $15,458,000 compared to $27,186,000 a year ago. Adjusted EBITDA was $40,591,000 compared to $42,079,000 a year ago. Adjusted net income attributable to the company common stockholders was $3,292,000 or $0.14 per diluted share compared to $11,574,000 or $0.50 per diluted share a year ago.
The company updated its previously issued guidance for the full year 2018, the company expects total revenue of $315 million to $320 million; adjusted EBITDA of $47 million - $50 million; and adjusted loss per diluted common share of $0.15 - $0.10. The company expects an annual effective tax rate of 20% and diluted weighted-average common shares outstanding of approximately 24.1 million for the year.