Surgery Partners Inc. ( (SGRY) ) has released its Q3 earnings. Here is a breakdown of the information Surgery Partners Inc. presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Surgery Partners, Inc., a leading operator of surgical facilities in the healthcare sector, offers a comprehensive range of outpatient surgical services across the United States.
In its latest earnings report for the third quarter of 2024, Surgery Partners, Inc. reported an increase in revenues to $770.4 million, marking a notable rise from $674.1 million in the same period last year. Despite this growth, the company faced a net loss attributable to Surgery Partners, Inc. of $31.7 million, compared to a loss of $4.9 million in the same quarter of 2023.
The key financial metrics showcase a strong revenue performance, driven by increased patient service revenues, which rose to $753.2 million. However, the company’s operating income decreased to $60.9 million from $82.6 million in the third quarter of 2023, primarily due to higher operating expenses, including salaries, supplies, and transaction costs. Additionally, the company completed significant refinancing activities, issuing $800 million in senior unsecured notes due 2032.
Looking ahead, Surgery Partners, Inc. aims to strengthen its financial position through strategic acquisitions and facility expansions. The management remains focused on enhancing operational efficiencies to drive profitability in the coming quarters.
