earnings
confidence high
sentiment neutral
materiality 0.65
Surgery Partners Q2 revenue up 2.7% to $848.9M; reaffirms FY2026 guidance
Surgery Partners, Inc.
- Q2 revenue $848.9M, up 2.7% YoY; same-facility revenue +5.0%, cases +0.3%.
- Net loss attributable to SGRY $15.0M; Adjusted EBITDA $125.2M vs $129.0M in Q2 2025.
- FY2026 guidance reaffirmed: revenue $3.35-3.45B, Adjusted EBITDA at least $530M, excluding pending Idaho Falls divestiture.
- Pending Idaho Falls, Idaho facility divestiture subject to physician member and governing board approvals; expected to improve cash conversion and deleverage.
- Cash $216.7M, $617.8M revolver capacity; net debt/EBITDA ~4.4x; Q2 operating cash flow $59.3M vs $81.3M.