Earnings Releases·Nov 9, 2026, 4:12 PM ET

Surgery Partners, Inc. — Third Quarter 2026 Earnings Summary

Total revenue decreased 0.8% year-over-year to $815.3 million, while same-facility revenues rose 6.0% driven by a 5.8% increase in revenue per case; net loss narrowed to $21.1 million from $22.7 million in the prior year period.
Adjusted EBITDA declined 2.7% year-over-year to $132.7 million, though operating cash flow improved to $103.5 million from $83.6 million, and year-to-date revenue grew 2.1% to $2,475.1 million.
The Company will not provide forward-looking guidance or host an earnings call due to the pending transaction with HealthSpan Partners, which has been amended to $25.00 per share in cash with a 10% per annum "Ticking Fee" if closing does not occur by March 1, 2027.
The merger, expected to close in Q1 2027, faces risks including regulatory approvals, litigation, and potential operational disruption, while the company divested Idaho Falls facilities in September 2026 and maintains $354.5 million in cash with $692.8 million in borrowing capacity.