Surgery Partners Q4 rev $885M (+2.4%), Adj. EBITDA $156.9M (-4.2%), net loss $15M, 2026 guidance, $200M buyback

Surgery Partners, Inc.

Revenue $885.0M (+2.4% YoY); full-year $3.3B (+6.2%). Same-facility revenue +3.5% Q4.
Adj. EBITDA $156.9M (-4.2% YoY); full-year $526.2M (+3.5%). Net loss $15.0M Q4, $77.9M FY.
2026 guidance: Adj. EBITDA at least $530M; revenue range $3.35B-$3.45B.
Board authorized $200M share repurchase program on February 26, 2026.
Operating cash flow $103.4M Q4 (down from $111.4M); net debt/EBITDA ~4.3x.

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