Surgery Partners Q1 revenue up 11.7% to $666.2M, net loss $24.9M, raises 2023 EBITDA guidance >$430M

Surgery Partners, Inc.

2023-Q1 EPS reported -$0.20 revenue$666,200,000

Revenue $666.2M (+11.7% YoY); same-facility revenue +10.3% (cases +5.3%, revenue per case +4.8%).
Net loss attributable to SGRY $24.9M vs net income $12.2M in Q1 2022; Adjusted EBITDA $90.1M (+17% from $77.1M).
Raises 2023 Adjusted EBITDA guidance to >$430M; Q1 free cash flow $20.5M, deployed $60M on five acquisitions.
New strategic partnerships with Intermountain Health and OhioHealth for expansion in new markets.
Net debt to EBITDA 4.3x; liquidity ~$800M ($245.5M cash + $545.9M revolver availability).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Surgery Partners, Inc. updated its full year 2023 guidance (raised).

Period: full year 2023
Guidance: raised
Result: guidance update

Exact text from the filing

The Company raises projected 2023 Adjusted EBITDA to be greater than $430 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Surgery Partners, Inc. reported first quarter ended March 31, 2023 results: revenue $666.2 million, net income $(24.9) million. Guidance raised.

Period: first quarter ended March 31, 2023
Revenue: $666.2 million
Net income: $(24.9) million
Guidance: raised
Result: reported results

Exact text from the filing

a leading provider of surgical services, today announced financial results for the first quarter ended March 31, 2023. • Revenue increased 11.7% from the prior year period to $666.2 million ◦ Same-facility revenue increasing 10.3% • Net loss attributable to Surgery Partners, Inc. was $24.9 million ◦ Adjusted EBITDA of $90.1 million; 17% greater than the prior year

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Surgery Partners, Inc. filing history →

Source: SEC EDGAR

accession 0001638833-23-000067

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