Surgery Partners Inc Stock Price, News & Analysis

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.

Surgery Partners (NASDAQ:SGRY) announced plans to refinance $119 million in incremental term loans and convert Series A preferred stock into approximately 22.609 million common shares on May 17, 2021. The company projects first quarter 2021 revenues to exceed $505 million with an adjusted EBITDA of at least $70 million, benefiting from CARES Act grants. Surgical case volumes are estimated at 125,000, with same-facility revenues expected to rise by 16-17%. The projected adjusted EBITDA for 2021 is at least $315 million.

Surgery Partners, Inc. (NASDAQ:SGRY) will release its Q1 2021 financial results on May 5, 2021, before market opening. A conference call will follow at 8:30 a.m. Eastern Time for investors to discuss the outcomes. Interested parties can join via dial-in numbers or through a webcast on the company's investor relations webpage. Surgery Partners, headquartered in Brentwood, Tennessee, operates over 180 surgical facilities across 30 states, focusing on high-quality, cost-effective outpatient care. More details are available on their website.

Surgery Partners (NASDAQ: SGRY) reported Q4 and full-year 2020 results with revenues of $548.3 million in Q4, up 6%, and a net loss of $4.8 million. Adjusted EBITDA rose 7.6% to $90.8 million. For the full year, revenues increased 1.6% to $1.9 billion, but net loss widened to $155.6 million. The company successfully recruited over 560 physicians in 2020 and closed an equity offering in February 2021, raising nearly $250 million. Looking ahead, Surgery Partners projects 2021 revenue growth of 18% to 20% and an Adjusted EBITDA of approximately $315 million.