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Surgery Partners, Inc. SGRY Q3 2025 earnings

Reported November 10, 2025 · Before market open

Revenue$821.5MMiss by $45.0M
EPS$0.13Miss by $0.06
Revenue estimate$866.5M
EPS estimate$0.19

Next report

Nov 9, 2026 (in 2 months)
Revenue estimate$854.8M
EPS estimate$0.10

Financials

Q3 2025

Income statement

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Revenue$821.5M+6.6%
Operating income$105.7M+73.6%
Net income-$22.7M+28.4%
EPS (diluted)-$0.18+28.0%

Balance sheet

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Cash & equivalents$203.4M-8.3%
Total debt$4.9B+12.5%
Total equity$1.7B-8.8%
Total assets$7.9B+5.5%

Cash flow

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Operating cash flow$83.6M+28.2%
CapEx$19.8M-2.0%
Free cash flow$63.8M+41.8%

Valuation & ratios

Valuation

as of 09/30/25
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Market cap$2.77B-31.8%
Enterprise value$7.45B-8.9%
P/S0.8×-0.5×

Profitability

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Operating margin12.4%+1.5pp
Net margin-5.2%-14.4pp
FCF margin5.9%+0.4pp

Returns & leverage

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Return on equity-9.5%-18.5pp
Debt / equity2.8×+0.5×
Current ratio1.9×+0.1×

Segments

By product

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Private insurance$404.1M+2.8%
Government$347.0M+9.0%
Self-pay$26.5M+34.5%
Other service revenues$23.0M+33.7%
Other$20.9M-5.0%

By segment

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Surgical Facilities$821.5M—

FAQ

When did Surgery Partners, Inc. report Q3 2025 earnings?
Surgery Partners, Inc. (SGRY) reported Q3 2025 earnings on November 10, 2025 before market open.
What were Surgery Partners, Inc.'s Q3 2025 revenue and EPS?
Surgery Partners, Inc. reported revenue of $821.5M and eps of $0.13 for Q3 2025.
Did Surgery Partners, Inc. beat estimates in Q3 2025?
Revenue missed the consensus estimate of $866.5M by $45.0M. EPS missed the consensus estimate of $0.19 by $0.06.
How did Surgery Partners, Inc.'s Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 6.6% from $770.4M a year earlier and eps declined 31.6% from $0.19.
Where can I find Surgery Partners, Inc.'s Q3 2025 SEC filings?
You can read the 8-K earnings release (0001638833-25-000159) and the 10-Q periodic report (0001638833-25-000163) directly on SEC EDGAR. The filing index links above go to sec.gov.