Surgery Partners, Inc. Reaffirms 2022 Full Year Guidance
Surgery Partners (NASDAQ:SGRY) is reaffirming its 2022 financial guidance during the J.P. Morgan Healthcare Conference on January 9, 2023. The company projects an Adjusted EBITDA of $375 million to $385 million and revenue of $2.50 billion to $2.55 billion. Headquartered in Brentwood, TN, Surgery Partners operates over 180 locations across 31 states, focusing on high-quality, cost-effective surgical services. The company acknowledges risks including COVID-19 impacts, economic conditions, and potential delays in financial closing procedures, which may affect actual results.
- Reaffirmed 2022 Adjusted EBITDA guidance of $375 million to $385 million.
- Confirmed 2022 revenue guidance of $2.50 billion to $2.55 billion.
- Strong operational foundation with over 180 facilities in 31 states.
- Risks associated with the ongoing effects of COVID-19.
- Potential impacts from inflationary pressures on operations.
- Dependence on timely payments from Medicaid and Medicare amidst economic challenges.
BRENTWOOD, Tenn., Jan. 09, 2023 (GLOBE NEWSWIRE) -- Members of management of Surgery Partners, Inc. (NASDAQ:SGRY) ("Surgery Partners" or the "Company"), a leading short-stay surgical facility owner and operator, will be meeting with investors today, January 9, 2023, as part of the 41st Annual J.P. Morgan Healthcare Conference, including a presentation at 8:15 p.m. ET. Based on results through November 2022, the Company is re-affirming its 2022 Adjusted EBITDA guidance of
About Surgery Partners
Headquartered in Brentwood, Tennessee, Surgery Partners is a leading healthcare services company with a differentiated outpatient delivery model focused on providing high quality, cost effective solutions for surgical and related ancillary care in support of both patients and physicians. Founded in 2004, Surgery Partners is one of the largest and fastest growing surgical services businesses in the country, with more than 180 locations in 31 states, including ambulatory surgery centers, surgical hospitals, multi-specialty physician practices and urgent care facilities. For additional information, visit www.surgerypartners.com.
Forward-Looking Statements
This press release contains forward-looking statements, including those regarding growth and our anticipated operating results for 2022 and 2023. These statements can be identified by the use of words such as “believes,” “anticipates,” “expects,” “intends,” “plans,” “continues,” “estimates,” “predicts,” “projects,” “forecasts,” “may,” “could,” and similar expressions. All forward looking statements are based on current expectations and beliefs as of the date of this release and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those discussed in, or implied by, the forward-looking statements, including but not limited to, continuing effects of the ongoing COVID-19 pandemic in the United States and specifically in the regions in which we operate; the impact to the state and local economies of restrictive orders, vaccine and other mandates and the pandemic generally; our ability to respond quickly to challenging economic conditions, including recent inflationary pressures; the impact of our cost-cutting measures on our future performance; our ability to cause distributions from our subsidiaries; the responsiveness of our payors, including Medicaid and Medicare, to the challenging operating conditions, including their willingness and ability to continue paying in a timely manner and to advance payments in a timely manner, if at all; our ability to execute on our operational and strategic initiatives; the timing and impact of our portfolio optimization efforts; our ability to continue to improve same-facility volume and revenue growth on the timeline anticipated, if at all; our ability to successfully integrate acquisitions; the anticipated impact and timing of our ongoing efficiency efforts, as well as our ongoing procurement and revenue cycle efforts; the impact of adverse weather conditions and other events outside of our control; and the risks and uncertainties set forth under the heading “Risk Factors” in our 2021 Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022 and September 30, 2022, and discussed from time to time in our reports filed with the Securities and Exchange Commission. Except as required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements to reflect events or circumstances after the date of this report, or to reflect the occurrence of unanticipated events or circumstances.
In addition, the guidance for the fiscal year ended December 31, 2022 is based on results of the Company through November 2022 and is subject to quarter- and year-end adjustments in connection with the completion of customary financial closing procedures, including management’s review and finalization of the results for the full year 2022 and to audit procedures by the Company’s independent registered public accounting firm, which have not yet been performed. These customary closing procedures, along with December results, could cause actual results to differ materially from management’s guidance. You are cautioned not to rely on management’s guidance being achieved when making an investment decision in the Company’s securities.
Contact:
Surgery Partners Investor Relations
(615) 234-8940
IR@surgerypartners.com
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