The earnings call highlighted strong revenue and EBITDA growth, robust organic growth in surgical cases, and strategic expansion through de novo facilities and physician recruitment. However, challenges such as increased interest expenses, slower M&A activity, and potential regulatory impacts are noted. The overall sentiment is balanced, reflecting both positive growth trajectories and areas of concern.

Company Guidance -

Q3 2025

In the second quarter of 2025, Surgery Partners, Inc. reported net revenue of $826 million and adjusted EBITDA of $129 million, marking a 9% growth in adjusted EBITDA and an 8.4% increase in net revenue compared to the same period last year. The company experienced a 5.1% rise in same-facility revenue, driven by 3.4% surgical case growth and a 1.6% rate increase. Total joint procedures saw a 26% year-over-year increase, highlighting the continued expansion in high-acuity orthopedic procedures. The company performed nearly 173,000 surgical cases in the quarter, up from 167,000 in 2024. Through the first half of 2025, they have recruited nearly 300 new physicians, contributing to their long-term growth strategy. Surgery Partners also reported progress in their M&A activities, deploying $66 million in 2025 to add eight surgical facilities, with plans to target $200 million in acquisitions by year-end. The company maintains a total liquidity of $645 million and a leverage ratio of 4.1x, with ongoing initiatives to optimize their portfolio and enhance operational efficiency.

Consistent Revenue and EBITDA Growth

Surgery Partners reported Q2 2025 net revenue of $826 million and adjusted EBITDA of $129 million. This represents a year-over-year net revenue growth of 8.5% and adjusted EBITDA growth of 9%.

Strong Organic Growth in Surgical Cases

The company performed nearly 173,000 surgical cases in Q2 2025, a 3.8% increase from Q2 2024. Same-facility revenue growth was over 5%, driven by 3.4% surgical case growth and 1.6% rate growth.

Surge in Orthopedic Procedures

Total joint procedures grew by 26% in Q2 2025 compared to the prior year, highlighting strong growth in higher acuity orthopedic surgeries.

Strong Physician Recruitment

Nearly 300 new physicians were added in the first half of 2025, with a focus on orthopedic specialists, enhancing the company's growth potential.

De Novo Expansion

Surgery Partners opened 8 de novo facilities in 2024, with 10 more under construction. These facilities focus on higher acuity specialties like orthopedics.

Improved Cash Flow and Liquidity

Operating cash flows of $81 million were reported in Q2 2025, with $250 million in cash on hand and $645 million in total liquidity.

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)	0.22 / -	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 0.22.

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