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Sep 30, 2023

Surgery Partners Q3 2023 Earnings Report

Announced results for the third quarter of 2023.

Key Takeaways

Surgery Partners reported an 8.6% increase in revenue to $674.1 million and an adjusted EBITDA of $105.5 million, representing a 9.7% growth. Days adjusted same-facility revenues increased by 14.2%.

Revenues increased by 8.6% to $674.1 million.

Days Adjusted Same-facility revenues increased 14.2%.

Net loss attributable to Surgery Partners was $4.9 million.

Adjusted EBITDA was $105.5 million, representing 9.7% growth.

Total Revenue
$674M
Previous year: $621M
+8.6%
EPS
$0.19
Previous year: -$0.02
-1050.0%
Days adjusted revenue growth
14.2%
Cases
146.51K
Previous year: 147.29K
-0.5%
Revenue per case
$4.6K
Previous year: $4.21K
+9.2%
Gross Profit
$137M
Previous year: $131M
+4.3%
Cash and Equivalents
$236M
Previous year: $155M
+52.5%
Free Cash Flow
$63.2M
Previous year: $12.4M
+409.7%
Total Assets
$6.78B
Previous year: $6.54B
+3.7%

Surgery Partners

Surgery Partners

Surgery Partners Revenue by Segment

Forward Guidance

The Company raised projected 2023 Adjusted EBITDA to a range of $436 million to $440 million and anticipates revenue at approximately $2.75 billion.

Revenue & Expenses

Visualization of income flow from segment revenue to net income