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Dec 31, 2024
Surgery Partners Q4 2024 Earnings Report
Surgery Partners reported increased revenue but a net loss in Q4 2024.
Key Takeaways
Surgery Partners delivered strong revenue growth in Q4 2024, increasing 17.5% year-over-year. However, the company reported a net loss of $108.5 million due to a non-cash tax valuation allowance. Adjusted EBITDA grew to $163.8 million, reflecting continued operational improvements.
Revenue grew 17.5% YoY to $864.4 million.
Net loss was $108.5 million, impacted by a non-cash tax valuation allowance.
Adjusted EBITDA increased 15.1% to $163.8 million.
Same-facility revenues grew 5.6%, driven by case volume growth.
Forward Guidance
Surgery Partners projects revenue growth for 2025, targeting up to $3.45 billion with strong EBITDA expansion.
Positive Outlook
- 2025 revenue guidance set between $3.30B and $3.45B.
- Adjusted EBITDA expected to grow to $555M-$565M.
- Over $770M in liquidity provides financial flexibility.
- Continued investment in acquisitions and de novo facilities.
- Operational improvements expected to enhance margins.
Challenges Ahead
- Net loss impact from deferred tax valuation adjustments.
- Slight decline in surgical facility count.
- Higher interest expenses affecting profitability.
- Regulatory uncertainties may impact reimbursement rates.
- Potential challenges in acquiring new physician partners.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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