SGRY

EX-99.1

2 exhibit991q12026earningsre.htm

EX-99.1

Document

Exhibit 99.1

SURGERY PARTNERS, INC. ANNOUNCES FIRST QUARTER 2026 RESULTS

REAFFIRMS FULL YEAR 2026 GUIDANCE

BRENTWOOD, Tenn., May 5, 2026 (GLOBE NEWSWIRE) - Surgery Partners, Inc. (NASDAQ:SGRY) (“Surgery Partners” or the “Company”), a leading short-stay surgical facility owner and operator, today announced results for the first quarter ended March 31, 2026.

First Quarter 2026 Financial Highlights

(All comparisons are year-over-year unless otherwise noted)

•Revenue increased 4.5% for the first quarter

◦Same-facility revenues increased 4.4% for the first quarter

◦Same-facility cases increased 0.6% for the first quarter

•Net loss attributable to Surgery Partners, Inc. was $35.9 million for the first quarter

◦Adjusted EBITDA was $102.3 million for the first quarter

2026 Guidance

•Full year 2026 revenue guidance reaffirmed to be in the range of $3.35 billion to $3.45 billion and Adjusted EBITDA of at least $530 million

Eric Evans, Chief Executive Officer, stated, “We are encouraged by our solid start to 2026, with same store revenue growth of 4.4% in line with our Q1 and long-term growth expectations. As we continue to navigate near-term market dynamics, our cost management discipline and continued execution on physician recruitment position us well to meet or exceed our 2026 plan. Our portfolio optimization efforts also remain critical to our long-term strategy as we take steps to better align with our core short-stay surgical operating model. Looking ahead, we are confident in our ability to return to our growth algorithm through capitalizing on market opportunities, driving operational excellence, and thoughtful capital deployment.”

Dave Doherty, Chief Financial Officer, commented, “The results we reported today were in line with expectations and reinforce our confidence in reaffirming our guidance for the full year. We are beginning to see improvements, and we continue to believe in the strong fundamentals underpinning our business. Through disciplined execution, and a continued focus on improving free cash flow and reducing leverage, we are well-positioned to return the business to consistent growth, while delivering on long-term shareholder value.”

First Quarter 2026 Results

Revenues for the first quarter of 2026 increased 4.5% to $810.9 million compared to $776.0 million for the first quarter of 2025. Same-facility revenues for the first quarter of 2026 increased 4.4% as compared to the same period in prior year, with a 3.8% increase in revenue per case and a 0.6% increase in same-facility cases. For the first quarter of 2026, the Company’s Adjusted EBITDA was $102.3 million, compared to $103.9 million for the same period in 2025.

Liquidity

Surgery Partners had cash and cash equivalents of $182.3 million and $666.1 million of borrowing capacity under its revolving credit facility as of March 31, 2026. Cash flows from operating activities were $11.7 million for the first quarter of 2026, compared to $6.0 million for the same period in 2025. The period-over-period change is due to timing of routine transactions involving working capital.

The Company’s ratio of total net debt to EBITDA, as calculated under the Company’s credit agreement, was approximately 4.3x at the end of the first quarter of 2026.

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2026 Outlook

The Company reaffirmed its outlook for 2026 revenues to be in the range of $3.35 billion to $3.45 billion and Adjusted EBITDA of at least $530 million.

Conference Call Information

Surgery Partners will hold a conference call today, May 5, 2026 at 8:30 a.m. (Eastern Time). The conference call can be accessed live over the phone by dialing 1-877-451-6152, or for international callers, 1-201-389-0879. A replay will be available three hours after the call and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the live call and the replay is 13760194. The replay will be available until May 19, 2026.

Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investor Relations section of the Company's website at www.surgerypartners.com. The replay will also be available on this same website for a limited time following the call.

To learn more about Surgery Partners, please visit the Company's website at www.surgerypartners.com. Surgery Partners uses its website as a channel of distribution for material Company information. Financial and other material information regarding Surgery Partners is routinely posted on the Company's website and is readily accessible.

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

sgry-202603020001638833FALSE00016388332026-03-022026-03-02

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549 Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 2, 2026

Surgery Partners, Inc. (Exact Name of Registrant as Specified in Charter)

Delaware001-3757647-3620923 (State or Other Jurisdiction of Incorporation)(Commission File Number)(IRS Employer Identification No.)

340 Seven Springs Way, Suite 600 Brentwood, Tennessee 37027 (Address of Principal Executive Offices) (Zip Code) (615) 234-5900 (Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, par value $0.01 per shareSGRYThe Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On March 2, 2026, Surgery Partners, Inc. (the "Company") issued a press release announcing results for the fourth quarter and the full year ended December 31, 2025. See the press release attached as Exhibit 99.1. In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933. The Company makes reference to non-GAAP financial measures in the attached press release and a reconciliation of such non-GAAP financial measures to the most directly comparable GAAP financial measures is provided therein.

Item 7.01 Regulation FD Disclosure. The Company will hold a conference call on March 3, 2026 at 8:30 a.m. (Eastern Time) to discuss the Company’s financial results for the quarter and year ended December 31, 2025. In addition to the press release, an earnings presentation will be made available on the Investor Relations section of the Company's website at www.surgerypartners.com. A copy of the earnings presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K and incorporated herein by reference. The information furnished pursuant to this Item 7.01 to this Current Report on Form 8-K, including the exhibit, is being “furnished” and, as such, shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits. (d) Exhibits:

99.1 Press release dated March 2, 2026

99.2 Q4 2025 Earnings Presentation

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SURGERY PARTNERS, INC.

Date: March 2, 2026By:/s/ David T. Doherty David T. Doherty Executive Vice President and Chief Financial Officer

sgry-202511100001638833FALSE00016388332025-11-102025-11-10

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549 Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 10, 2025

Surgery Partners, Inc. (Exact Name of Registrant as Specified in Charter)

Delaware001-3757647-3620923 (State or Other Jurisdiction of Incorporation)(Commission File Number)(IRS Employer Identification No.)

340 Seven Springs Way, Suite 600 Brentwood, Tennessee 37027 (Address of Principal Executive Offices) (Zip Code) (615) 234-5900 (Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, par value $0.01 per shareSGRYThe Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On November 10, 2025, Surgery Partners, Inc. issued a press release announcing results for the three and nine months ended September 30, 2025. See the press release attached as Exhibit 99.1. In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933. Surgery Partners makes reference to non-GAAP financial measures in the attached press release and a reconciliation of such non-GAAP financial measures to the most directly comparable GAAP financial measures is provided therein.

Item 9.01. Financial Statements and Exhibits. (d) Exhibits:

99.1 Press release dated November 10, 2025

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SURGERY PARTNERS, INC.

Date: November 10, 2025By:/s/ David T. Doherty David T. Doherty Executive Vice President and Chief Financial Officer