Surgery Partners Inc Stock Price, News & Analysis

Surgery Partners (NASDAQ:SGRY) reported third-quarter 2022 revenue of $620.6 million, a rise of 11.0% year-over-year. Same-facility revenues grew by 5.1%. Despite a net loss of $25.0 million, Adjusted EBITDA increased by nearly 26% to $96.2 million, with margins at 15.5%. The company reaffirmed its 2022 Adjusted EBITDA projection of $375 million to $385 million, and revenue expectations between $2.5 billion and $2.55 billion. The results were influenced by Hurricane Ian's impact on Florida operations, but strong operational performance and continued acquisitions helped maintain growth.

Surgery Partners, Inc. (NASDAQ:SGRY) announced that it will release its third quarter 2022 results before the market opens on November 8, 2022. This will be followed by a conference call at 8:30 a.m. Eastern Time. Interested participants can join the call via a domestic dial-in number at 1-877-451-6152 or an international line at 1-201-389-0879. A replay will be available shortly after the call until November 22, 2022. Surgery Partners operates over 180 surgical facilities across 32 states, focusing on cost-effective surgical solutions for patients and physicians.

Physicians Realty Trust reported a second quarter 2022 net income of $0.07 per share and $0.27 Normalized FFO per share, with total revenue rising 17% to $132.2 million. The Trust executed $46.9 million in investments, announced a quarterly dividend of $0.23 per share, and disposed of one property for $6.4 million, realizing a net gain of $3.7 million. A significant sale of three facilities in Great Falls, Montana on July 14 generated $116.3 million with a net gain of $53.9 million. The portfolio was 95% leased, and Same-Store Cash NOI grew 1.9% year-over-year.

Surgery Partners (NASDAQ:SGRY) reported a 13.3% revenue increase to $615.4 million for Q2 2022, driven by 149,000 surgical cases performed, up nearly 7% year-over-year. Adjusted EBITDA rose 13.4% to $86.1 million, with margins at 14.0%. Despite a net loss of $18.4 million, the company reaffirmed its 2022 guidance for revenue between $2.5 billion and $2.6 billion. Cash flow from operating activities surged to $42.1 million, significantly above last year's $2.3 million. The company maintains a strong liquidity position with $227.4 million in cash.

Surgery Partners (NASDAQ:SGRY) will announce its second quarter 2022 financial results on August 2, 2022, before market opening. A conference call is scheduled for 8:30 a.m. ET, where investors can join via a dedicated dial-in or webcast through the company’s Investor Relations website. Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners operates over 180 surgical facilities across 32 states, focusing on high-quality, cost-effective outpatient care.

Surgery Partners (NASDAQ:SGRY) will present at the Jefferies Healthcare Conference on June 8, 2022, at 4:30 p.m. EST. The event aims to connect the company with investors.

Interested parties can listen to a live webcast on the Surgery Partners investor relations page, with a replay available for a limited time thereafter.

Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners operates over 180 facilities in 32 states, focusing on high-quality, cost-effective surgical care.

Surgery Partners (NASDAQ:SGRY), a leading healthcare services company, will meet with investors at two upcoming healthcare conferences.

The Bank of America Securities 2022 Healthcare Conference is scheduled for May 10, 2022, at 4:20 p.m. ET, and the RBC Capital Markets Global Healthcare Conference will follow on May 17, 2022, at 1:35 p.m. ET.

Webcasts of both events will be accessible on Surgery Partners' investor relations website, with replays available for a limited time after the calls.

Surgery Partners (NASDAQ: SGRY) and ValueHealth announced a strategic partnership aimed at expanding access to high-value surgical care. This collaboration will accelerate the development of new ambulatory surgery centers (ASCs) and implement ValueHealth's value-based surgical programs across existing locations. Surgery Partners will manage ASCs and develop new surgical sites focusing on orthopedic specialties. The partnership is expected to meet the rising demand for cost-effective surgical services, enhancing the patient and physician experience in outpatient settings.

Surgery Partners reported a 16.4% increase in revenues to $596.2 million for Q1 2022, with net income of $12.2 million and adjusted EBITDA of $77.1 million, up 5.8% year-over-year. The company raised its 2022 guidance for adjusted EBITDA to between $375 million and $385 million and projected revenues of $2.5 billion to $2.6 billion. Surgical case volume also saw a double-digit growth across multiple specialties. The management emphasized strong operational execution despite challenges posed by the Omicron variant.