secwatch.observer — SEC 8-K summary
======================================

Issuer:     Surgery Partners, Inc. (SGRY)
CIK:        0001638833
Form:       8-K
Filed at:   2025-11-10T23:59:59+00:00
Accession:  0001638833-25-000159
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Surgery Partners Q3 revenue up 6.6% to $821.5M, net loss $22.7M; FY guidance cut
--------------------------------------------------------------------------------

- Revenue $821.5M (+6.6% YoY); same-facility revenue +6.3%, cases +3.4%.
- Net loss attributable to SGRY of $22.7M; Adjusted EBITDA $136.4M (+6.1% YoY).
- Full-year 2025 guidance: revenue $3.275-3.30B, Adjusted EBITDA $535-540M (revised down).
- Leverage ratio 4.2x net debt/EBITDA; Q3 operating cash flow $83.6M vs $65.2M YoY.
- Management cites softer volume, payor mix, and delayed capital deployment for guidance revision.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1638833/000163883325000159/0001638833-25-000159-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1638833/000163883325000159/sgry-20251110.htm
  HTML page:      https://secwatch.observer/filing/0001638833-25-000159

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer