Surgery Partners Q1 2023 Earnings Report

Reported strong top-line and same store revenue, margin expansion, and capital deployment.

Key Takeaways

Surgery Partners, Inc. reported an 11.7% increase in revenue to $666.2 million for the first quarter of 2023. The company's net loss attributable to Surgery Partners, Inc. was $24.9 million, with an adjusted EBITDA of $90.1 million. They are raising the outlook for 2023 Adjusted EBITDA to be greater than $430 million.

Revenue increased 11.7% from the prior year period to $666.2 million with same-facility revenue increasing 10.3%.

Net loss attributable to Surgery Partners, Inc. was $24.9 million.

Adjusted EBITDA of $90.1 million, 17% greater than the prior year period, with Adjusted EBITDA margin increased 60 basis points to 13.5%.

Raises outlook for 2023 Adjusted EBITDA to be greater than $430 million.

Previous year: -$0.09

-188.9%