Surgery Partners Q2 revenue beats on growth in same-facility segment

Surgery Partners

10/08/2026 12:42

Overview
US short-stay surgery operator's Q2 revenue rose 2.7%, beating analyst expectations
Adjusted EPS and Adjusted EBITDA for Q2 beat analyst expectations
Company reaffirmed 2026 revenue and Adjusted EBITDA outlook, excluding pending Idaho Falls divestiture

Outlook
Surgery Partners reaffirms 2026 revenue guidance of $3.35 bln to $3.45 bln
Company expects 2026 Adjusted EBITDA of at least $530 mln, excluding Idaho Falls divestiture
Company sees structural tailwinds supporting long-term ASC market growth

Result Drivers
REVENUE PER CASE - Same-facility revenue growth of 5.0% was driven mainly by a 4.8% increase in revenue per case, with case volumes nearly flat
PORTFOLIO OPTIMIZATION - Pending Idaho Falls divestiture cited as a key step in improving the company's financial profile and strategic focus
OPERATIONAL INITIATIVES - Management said ongoing operational efficiency efforts and disciplined capital allocation supported performance

Company press release: ID:nGNX238Mty

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$848.90 mln
$830.37 mln (11 Analysts)
Q2 Adjusted EPS
Beat
$0.10
$0.06 (12 Analysts)
Q2 Adjusted EBITDA
Beat
$125.20 mln
$123.65 mln (11 Analysts)
Q2 Adjusted EBITDA Margin
 
14.70%
 
Q2 Operating Income
 
$102.10 mln
 
Q2 Pretax Profit
 
$32.30 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the healthcare facilities & services peer group is "buy"
Wall Street's median 12-month price target for Surgery Partners, Inc. is $19.50, about 25.6% above its August 7 closing price of $15.53
The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 47 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)