Shares of Acadia Healthcare Company, Inc. ACHC have gained 23% in the last day's trading owing to robust third-quarter 2020 results wherein the bottom line not only beat estimates but also improved year over year.Adjusted earnings of 68 cents per share beat the Zacks Consensus Estimate by 23.6%. The bottom line also improved 30.8% year over year.Moreover, the company’s results reflect strong revenues driven by robust demand for its behavioral health services that addresses mental health issues, which have been triggered by COVID-19 induced uncertainties.Further, the company’s revenues of $833 million outpaced the Zacks Consensus Estimate by 4.1% and climbed 7.2% year over year.Total same facility revenues improved 5.9% year over year to $808.7 million due to 2.3% increase in patient days and 3.5% improvement in revenue per patient day.Consolidated adjusted EBITDA was $159.4 million, up 8.7% year over year.Consolidated EBITDA margin on same facility basis was 22.9%, expanding 60 basis points (bps) year over year.Total expenses climbed 8.4% year over year to $788.6 million primarily on the back of higher salaries, wages and benefits, other operating expenses and transaction-related expenses.During the first nine months of 2020, the company added 206 beds to its U.S. operations. In mid-July, it announced the opening of its 144-bed behavioral health facility in Pennsylvania.Acadia Healthcare Company, Inc. Price, Consensus and EPS Surprise Acadia Healthcare Company, Inc. price-consensus-eps-surprise-chart | Acadia Healthcare Company, Inc. QuoteSegmental DetailsU.S. same facility revenues climbed 7.5% year over year to $546.4 million. The segment also reported a 4.2% year-over-year increase in patient days and a 3.1% growth in revenue per patient day. EBITDA margin on same facility basis at the segment was 25.7%, expanding 50 bps year over year.U.K. same facility revenues were up 2.7% year over year to $262.4 million. While number of patient days slid 0.1% from the year-earlier period, revenue per patient per day grew 2.8%. EBITDA margin on same facility basis at the segment was 17.2%, expanding 50 bps year over year.Financial Update (as of Sep 30, 2020)Cash and cash equivalents were $338.7 million, which increased to nearly three-fold from the level on Dec 31, 2019.Long-term debt was $3.1 billion, down 1.2% from the figure as of Dec 31, 2019.Net cash provided by operating activities for the nine months ended Sep 30, 2020 was $472.2 million, which more than doubled year over year.The company exited the quarter with total assets worth $7.1 billion, up 3.3% from the level as of Dec 31, 2019.Fourth-Quarter GuidanceFor fourth-quarter 2020, the company anticipates revenues of $810-$835 million and adjusted EBITDA of $160-$165 million. Adjusted earnings per diluted share is expected to be 68-72 cents.Zacks RankAcadia Healthcare sports a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other Medical Sector ReleasesOf the medical sector players that have reported third-quarter results so far, UnitedHealth Group Incorporated UNH, Tenet Healthcare Corporation THC and Universal Health Services, Inc. UHS beat the Zacks Consensus Estimate for earnings.The Hottest Tech Mega-Trend of AllLast year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report UnitedHealth Group Incorporated (UNH): Free Stock Analysis Report Universal Health Services, Inc. (UHS): Free Stock Analysis Report Tenet Healthcare Corporation (THC): Free Stock Analysis Report Acadia Healthcare Company, Inc. (ACHC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research