The earnings call reflects positive financial performance, strong organic growth, and strategic expansion activities, despite some challenges related to interest expenses and the pace of M&A. The company's outlook and strategic positioning remain strong.

Company Guidance

During the second quarter of 2025, Surgery Partners, Inc. reported net revenue of $826 million and adjusted EBITDA of $129 million, marking an 8.4% increase in net revenue and a 9% growth in adjusted EBITDA compared to the previous year. The company achieved same-facility revenue growth of over 5%, driven by a 3.4% increase in surgical case growth and 1.6% rate growth. The total joint procedures saw a 26% increase, highlighting the rising demand for orthopedic surgeries. With nearly 173,000 surgical cases performed and the addition of approximately 300 new physicians in the first half of the year, the company maintained its strong growth trajectory. Furthermore, Surgery Partners invested in 69 surgical robots and opened 20 de novo facilities since 2022, with 10 more under construction. The company deployed $66 million to add 8 surgical facilities, aiming to reach $200 million in acquisitions by the end of the year. Despite higher interest costs impacting cash flow, the company ended the quarter with $250 million in cash and maintained a leverage ratio of 4.1x, supported by its robust pipeline and disciplined financial management.

Strong Financial Performance

Surgery Partners reported a second quarter net revenue of $826 million and adjusted EBITDA of $129 million, representing a 9% growth in adjusted EBITDA and just under 8.5% growth in net revenue compared to the prior year.

Organic Growth and Same-Facility Revenue

The company experienced same-facility revenue growth of over 5%, with 3.4% surgical case growth and 1.6% rate growth, consistent with expectations shared in the prior earnings call.

Surge in Orthopedic Procedures

Total joint procedures grew by 26% in the second quarter compared to the prior year, driven by an increase in joint-related surgeries.

De Novo Facility Expansion

Since 2022, Surgery Partners has opened 20 de novo facilities, with 12 already profitable. The company has 10 more facilities under construction and a robust pipeline for future development.

M&A Contributions and Pipeline

To date, $66 million has been deployed in 2025 for acquisitions, adding 8 surgical facilities at an effective multiple under 8x adjusted EBITDA. The company targets $200 million in acquisitions for the year.

Surgery Partners (SGRY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

SGRY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 11, 2025	2025 (Q3)	0.21 / -	0.19	―	―	―
Aug 05, 2025	2025 (Q2)	0.18 / 0.17	0.21	-19.05% (-0.04)	―
May 12, 2025	2025 (Q1)	0.07 / 0.04	0.1	-60.00% (-0.06)	―
Mar 03, 2025	2024 (Q4)	0.38 / 0.44	0.44	0.00% (0.00)	―
Nov 12, 2024	2024 (Q3)	0.25 / 0.19	0.19	0.00% (0.00)	―
Aug 06, 2024	2024 (Q2)	0.20 / 0.21	0.28	-25.00% (-0.07)	―
May 07, 2024	2024 (Q1)	0.07 / 0.10	0.08	25.00% (+0.02)	―
Feb 26, 2024	2023 (Q4)	0.38 / 0.44	0.27	62.96% (+0.17)	―
Nov 07, 2023	2023 (Q3)	0.14 / 0.19	-0.02	1050.00% (+0.21)	―
Aug 01, 2023	2023 (Q2)	0.08 / 0.28	-0.03	1033.33% (+0.31)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SGRY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	$22.22	$22.14	-0.36%
May 12, 2025	$22.16	$23.26	+4.96%
Mar 03, 2025	$24.08	$24.00	-0.33%
Nov 12, 2024	$31.43	$29.57	-5.92%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Surgery Partners Inc (SGRY) report earnings?

Surgery Partners Inc (SGRY) is schdueled to report earning on Nov 11, 2025, Before Open (Confirmed).

What is Surgery Partners Inc (SGRY) earnings time?

Surgery Partners Inc (SGRY) earnings time is at Nov 11, 2025, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is SGRY EPS forecast?

SGRY EPS forecast for the fiscal quarter 2025 (Q3) is 0.21.

Become an Expert with TipRanks Premium

What am I Missing?

Make informed decisions based on Top Analysts' activity

Know what industry insiders are buying

Get actionable alerts from top Wall Street Analysts

Find out before anyone else which stock is going to shoot up

Get powerful stock screeners & detailed portfolio analysis

Subscribe Now See Plans & Pricing