Surgery Partners Reports Modest Q1 Growth, Reaffirms 2026 Guidance
Event summary
- Q1 2026 revenue increased 4.5% year-over-year to $810.9 million.
- Same-facility revenues grew 4.4%, with a 0.6% increase in same-facility cases.
- Net loss attributable to Surgery Partners was $35.9 million for Q1 2026.
- Adjusted EBITDA was $102.3 million, down slightly from $103.9 million in Q1 2025.
- Company reaffirmed full-year 2026 revenue guidance of $3.35 billion to $3.45 billion and Adjusted EBITDA of at least $530 million.
The big picture
Surgery Partners' Q1 2026 results reflect modest growth in a challenging healthcare services landscape. The company's focus on cost management and physician recruitment is critical as it navigates market dynamics and aims to return to consistent growth. With over 200 locations in 30 states, Surgery Partners' strategic moves will be closely watched by investors and industry analysts.
What we're watching
- Revenue Growth
- Whether Surgery Partners can sustain its 4.4% same-facility revenue growth amid near-term market dynamics.
- Cost Management
- The effectiveness of the company's cost management discipline in improving profitability.
- Portfolio Optimization
- The impact of portfolio optimization efforts on aligning with the core short-stay surgical operating model.
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