AAC Holdings beats 3Q profit forecasts

BRENTWOOD, Tenn. (AP) _ AAC Holdings Inc. (AAC) on Wednesday reported third-quarter net income of $762,000, after reporting a loss in the same period a year earlier.

On a per-share basis, the Brentwood, Tennessee-based company said it had profit of 3 cents. Earnings, adjusted for one-time gains and costs, were 12 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The operator of the American Addiction Center substance abuse facilities posted revenue of $80.4 million in the period.

AAC Holdings expects full-year earnings in the range of 50 cents to 58 cents per share, with revenue in the range of $295 million to $305 million.

AAC Holdings shares have increased slightly more than 4 percent since the beginning of the year. The stock has dropped 54 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAC at https://www.zacks.com/ap/AAC