Surgery Partners Inc Stock Price, News & Analysis

Surgery Partners announced a public offering of 5,000,000 shares of its common stock, with an option for underwriters to purchase an additional 750,000 shares. The offering is subject to market conditions and the actual size may vary. Proceeds will be used for general corporate purposes. The shares are offered under an effective shelf registration statement filed with the SEC on January 25, 2021. BofA Securities, J.P. Morgan, and Jefferies are the lead managers for the offering.

Surgery Partners (NASDAQ:SGRY) reported strong Q3 2021 results, with revenues of $559.2 million, a 12.7% increase year-over-year. Adjusted EBITDA rose 25% to $76.4 million. Despite a net loss of $22.9 million, the company anticipates FY 2021 adjusted EBITDA of $325-$330 million. Key drivers included a 6.2% increase in same-facility case volume and a strategic focus on high-acuity procedures. Cash and equivalents stood at $330.4 million. Overall, Surgery Partners is well-positioned for growth amid the ongoing pandemic.

Surgery Partners, Inc. (NASDAQ:SGRY) will announce its third quarter 2021 results on November 2, 2021, after market close, followed by a conference call at 5:00 p.m. ET. Investors can join the call by dialing 1-877-451-6152 (domestic) or 1-201-389-0879 (international). A replay will be available until November 16, 2021.

Founded in 2004 and headquartered in Brentwood, Tennessee, Surgery Partners is a leading healthcare services provider with over 180 locations across 31 states, focusing on outpatient surgical care.

Surgery Partners (NASDAQ: SGRY) reported a 45% increase in Q2 2021 revenues to $543.3 million compared to the previous year, along with a 68% rise in same-facility case volume. Adjusted EBITDA for the quarter grew by 30% to $75.9 million, while net loss attributed to shareholders was $26.9 million. The company improved its full-year Adjusted EBITDA guidance to at least $325 million. With a robust liquidity position, Surgery Partners aims to continue enhancing its service offerings, supported by strong performance across all service lines and a significant increase in total joint procedures.

Surgery Partners, a leading owner and operator of short-stay surgical facilities, will release its second quarter 2021 results before market opening on August 4, 2021. This announcement includes a conference call at 8:30 a.m. ET, where interested parties can join via dial-in or webcast. The company operates over 180 locations across 30 states, focusing on high-quality, cost-effective surgical care. Interested investors can access the call and additional information through the company's website.

Surgery Partners and UCI Health have launched a strategic partnership aimed at enhancing access to outpatient surgical facilities for nearly 4 million residents in Southern California. This agreement will allow UCI Health to serve more patients needing same-day procedures, increasing outpatient surgical capacity. Surgery Partners CEO Eric Evans expressed optimism about the partnership's potential for growth and the delivery of cost-effective, high-quality care. The collaboration is expected to significantly improve local healthcare options and expand surgical services provided by both organizations.

Surgery Partners, a leading surgical services provider, announced participation in the Jefferies Virtual Healthcare Conference. Executive Chairman Wayne DeVeydt and CFO Tom Cowhey will present on June 2, 2021, at 3:30 p.m. ET. Interested investors can access the live webcast through the Investor Relations section of their website, with replay available later. Surgery Partners operates over 180 locations across 30 states, providing high-quality outpatient surgical care. For more details, visit www.surgerypartners.com.

Surgery Partners, a leader in surgical services, will be featured at two major healthcare conferences. CEO Eric Evans and CFO Tom Cowhey will present at the Bank of America Merrill Lynch Healthcare Conference on May 11, 2021, at 9:30 a.m. ET, and at the RBC Capital Markets Global Healthcare Conference on May 18, 2021, at 9:45 a.m. ET. Interested investors can access a live webcast via the company’s Investor Relations website, with replays available afterward. With over 180 locations across 30 states, Surgery Partners continues to be a significant player in the healthcare sector.

Surgery Partners (NASDAQ:SGRY) reported a 16.2% increase in revenues to $512.4 million for Q1 2021, driven by a 17.1% rise in same-facility revenues and an 8.8% increase in case volume. Despite a net loss of $31.3 million, Adjusted EBITDA surged 57% to $72.9 million, with guidance raised to at least $320 million for 2021. The company refinanced $1.55 billion in term loans, extending maturity to 2026 and saving over $7 million annually in cash interest. Liquidity remains strong with $541.9 million in cash. The company expects revenue growth of 18% to 20% for 2021.