SGRY
Surgery Partners, Inc.15.52
+0.08+0.52%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A yields no surprises
Q&A added no contradictions or new projects, largely reaffirming prepared remarks on Q4 shortfalls tied to headwinds in just three surgical hospital markets—slower cases, Medicare-heavy payer shifts, stubborn anesthesia costs. Physician transitions exacerbated mix but should improve as recruits ramp; ops expenses to be cut near-term. Portfolio optimization progresses with Baylor JV deconsolidation boosting efficiency despite lower revenue share. The shortfall was confined to three markets. 2026 guidance: $3.3B–$3.45B revenue, ≥$530M adjusted EBITDA. Investors will eye execution under new COO and leverage reduction.
Key Stats
Market Cap
2.01BP/E (TTM)
-Basic EPS (TTM)
-1.36Dividend Yield
0%Recent Filings
10-K
FY2025 10-K excerpt
Surgery Partners' 10-K for FY2025 ended December 31, 2025, lacks financial statements, quarterly breakdowns, or MD&A results, so topline, profitability, and Q4 metrics remain undisclosed. No y/y deltas, segment trends, or momentum indicators appear in the provided filing excerpt. Liquidity, capital allocation, and outlook not detailed. Q4 drove nothing visible here. Risk: regulatory changes could disrupt operations.
8-K
Q4 EBITDA dips, 2026 guidance set
Surgery Partners reported Q4 2025 revenue up 2.4% to $885M, but Adjusted EBITDA fell 4.2% to $156.9M amid margin pressure; full-year revenue rose 6.2% to $3.3B with Adjusted EBITDA up 3.5% to $526.2M. Board authorized $200M share repurchases on February 26, 2026. Guidance targets 2026 Adjusted EBITDA at least $530M, revenue $3.35B-$3.45B.
8-K
Issued $425M notes due 2032
8-K
Prices $425M notes add-on
Surgery Center Holdings, Surgery Partners' subsidiary, priced $425.0 million of 7.250% senior unsecured notes due 2032 on December 11, 2025, as an add-on to its $800.0 million April 2024 issuance. Closing is set for December 16, subject to conditions. Proceeds will repay revolver debt. Deal hinges on market stability.
8-K
Surgery Partners notes add-on
IPO
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