Surgery Partners, Inc. (SGRY) Misses Q2 EPS by 27c, Miss on Revenues; Offers FY17 Revenues

Surgery Partners, Inc. (NASDAQ: SGRY) reported Q2 EPS of ($0.09), $0.27 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $288.4 million versus the consensus estimate of $314.22 million.

Full Year 2017 Guidance

For 2017, the Company is modifying the guidance provided on our conference call in March of this year to reflect the recent softness in healthcare utilization and payor mix shift experienced during the quarter. On a standalone basis, the Company now anticipates revenue in the range of $1.18 billion to $1.20 billion and Adjusted EBITDA in the range of $174.0 million to $181.0 million for the full year 2017. Including the partial year impact of NSH, revenue would be in the range of $1.34 billion to $1.36 billion and Adjusted EBITDA in the range of $199.0 million to $207.0 million. This new guidance does not incorporate any smaller, one-off acquisitions this year and assumes that we experience a return to higher demand in the second half of the year, but not to the extent that we forecast previously.

• Revenues decreased 0.5% compared to second quarter 2016 to $288.4 million
• Same facility revenue increased 2.0% over second quarter 2016 to $296.5 million
• Net loss attributable to Surgery Partners was $4.5 million, compared to net income of $2.1 million in the second quarter 2016
• Adjusted EBITDA was $37.1 million, compared to $46.0 million in the second quarter 2016
• Diluted EPS of $(0.09) per share compared to $0.04 per share in the second quarter 2016

For earnings history and earnings-related data on Surgery Partners, Inc. (SGRY) click here.

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