NASDAQ$SGRY

Surgery Partners Inc · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Reported a revenue increase of 13.3% and an Adjusted EBITDA increase of 13.4% compared to the prior year period.

Surgery Partners, Inc. announced its second quarter 2022 results, with revenue increasing by 13.3% to $615.4 million and Adjusted EBITDA increasing by 13.4% to $86.1 million. The company performed over 149,000 surgical cases, a 7% increase from the prior year. They reaffirmed their 2022 Adjusted EBITDA guidance of $375 million to $385 million and revenue guidance of $2.5 billion to $2.6 billion.

  • Revenue increased 13.3% from the prior year period to $615.4 million.
  • Days adjusted same-facility revenues increased 6.9% from the prior year period.
  • Net loss attributable to common stockholders was $18.4 million.
  • Adjusted EBITDA increased 13.4% over the prior year period to $86.1 million, inclusive of a $0.1 million benefit from the recognition of CARES Act grants.

Headline financials

Total Revenue

$615M

Previous: $543M+13.3%
EPS (adj)

-$0.03

Previous: -$0.39+92.3%
Cases

149.0K

Previous: 139.7K+6.7%
Revenue per Case

$4.13K

Previous: $3.89K+6.2%
Capital Expenditures

-$40.6M

Previous: -$28M-45.0%
Free Cash Flow

-$59M

Previous: -$54.9M-7.5%
Net Income

-$18.4M

Previous: -$26.9M+31.6%
Operating Income

$76.5M

Previous: $59.5M+28.6%
Gross Profit

$135M

Previous: $118M+13.8%
Cash & Equivalents

$227M

Previous: $465M-51.1%
Total Assets

$6.29B

Previous: $5.62B+11.9%
Stock-Based Comp

$4.3M

Previous: $4.1M+4.9%

Revenue & EPS history

Surgery Partners · Revenue · Quarterly

$615M

Q2 2022+13.3%vs Q2 2021
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Forward guidance

The Company continues to project 2022 Adjusted EBITDA in the range of $375 million to $385 million and 2022 revenue in the range of $2.5 billion to $2.6 billion.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2022

Historical avgQ2 2022

+1.2%

Avg return

Earnings day

+0.0%

Avg return

5 days after

-1.2%

Avg return

30 days after

57%

28 / 49 earnings

Positive

+26.2%

Q2 2020

Best reaction

-35.9%

Q2 2017

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.4%+1.7%-3.7%
Q4 2025-12.5%-15.9%-23.3%
Q3 2025-25.4%-28.9%-23.1%
Q1 2025+5.1%+8.0%+4.6%
Q4 2024-0.3%-0.1%-2.2%
Q3 2024-18.8%-27.0%-35.6%
Q2 2024-0.4%+3.6%+7.9%
Q1 2024+6.1%+3.9%+1.3%
Q4 2023-3.6%-5.6%-9.4%
Q3 2023+10.4%+5.5%+30.9%
Q2 2023-4.0%-4.6%-6.1%
Q1 2023-6.3%-11.2%-5.5%
Q4 2022-1.8%-0.5%+3.0%
Q3 2022-11.7%+17.9%+5.7%
Q2 2022-2.5%-1.7%-30.6%
Q1 2022+11.2%+0.8%-21.3%
Q4 2021+4.7%+1.6%+6.4%
Q3 2021+17.7%+22.8%+13.0%
Q2 2021-13.1%-15.2%-8.6%
Q1 2021+5.2%+2.1%+22.6%
Q4 2020+3.4%+7.2%+11.9%
Q3 2020-5.8%+0.7%+14.0%
Q2 2020+26.2%+26.1%+25.3%
Q1 2020+1.2%-9.7%+34.5%
Q4 2019-29.6%-34.8%-68.6%
Q3 2019+22.4%+35.2%+60.8%
Q2 2019+7.9%-4.1%+0.3%
Q1 2019-5.1%-6.7%-19.9%
Q4 2018+5.4%+9.0%-9.6%
Q3 2018+6.2%+0.7%-6.7%
Q2 2018+13.0%+10.8%-2.2%
Q1 2018+7.0%+16.1%-12.9%
Q4 2017+0.9%+6.0%+8.2%
Q3 2017+18.5%+8.0%+14.8%
Q2 2017-35.9%-41.4%-47.5%
Q1 2017+17.4%+21.0%+22.1%
Q4 2016-10.2%-6.9%-9.3%
Q3 2016-8.4%-2.8%-7.8%
Q2 2016+1.0%+10.3%+19.2%
Q1 2015-2.7%
Q1 2016-7.6%
Q2 2015+13.1%
Q1 2014+13.1%
Q4 2013+13.1%
Q2 2014+13.1%
Q4 2015+17.1%
Q3 2014+2.8%
Q4 2014+2.8%
Q3 2015-0.2%

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