Surgery Partners Q1 revenue up 8.2% to $776M; Adj EBITDA $103.9M (+6.6%); net loss $37.7M

Surgery Partners, Inc.

2025-Q1 EPS reported -$0.30 revenue$776,000,000

Same-facility revenue +5.2%, same-facility cases +6.5% YoY; revenue per case -1.2%.
Net loss attributable to Surgery Partners $37.7M; no GAAP EPS provided.
Adjusted EBITDA $103.9M vs. $97.5M in prior-year quarter (+6.6%).
Full-year 2025 guidance reaffirmed: revenue $3.30-$3.45B, Adj EBITDA $555-$565M.
Cash $229.3M + $388.9M revolver capacity; net debt/EBITDA ~4.1x; operating cash flow $6.0M.

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