Surgery Partners, Inc. (SGRY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings and welcome to the Surgery Partners Q4 and full year 2025 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, Dave Doherty, CFO. Please go ahead. Good morning, and welcome to Surgery Partners' Q4 and full-year 2025 earnings call. I am joined today by Eric Evans, our CEO. During this call, we will make forward-looking statements. There are risk factors that could cause future results to be materially different from these statements, as described in yesterday's press release and the reports we filed with the SEC, each of which are available on our corporate website. The company does not undertake any duty to update these forward-looking statements. In addition, we reference certain financial measures that are non-GAAP, which we believe can be useful in evaluating our performance. These measures are reconciled to the most applicable GAAP measure in yesterday's press release. With that, I will turn the call over to Eric. Eric? Thank you, Dave. Good morning, and thank you all for joining us today. My initial comments will briefly highlight our consolidated fourth quarter and full year 2025 results. I will then provide additional color on the drivers of performance this quarter and and our initial outlook for 2026. First, let me provide highlights from our fourth quarter and full-year results. We reported full-year net revenue at the low end of expectations at $3.3 billion, up 6.2% year-over-year, with same facility revenue growth of 4.9%. Full-year adjusted EBITDA w...