Filing Flows › Surgery Partners (SGRY) › Q1 2026
Surgery Partners (SGRY) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Surgery Partners (SGRY) reported revenue of $811M for the first quarter 2026 (Q1 2026), +4% from a year earlier and -8% from the quarter before. Operating margin was 8.1%, net loss $2.1M (0.3% of revenue).
Surgery Partners, Q1 2026: revenue $811M (+4% year over year), operating margin 8.1%, net loss $2.1M, operating cash flow $11.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $811M | -8% | +4% |
| Operating profit | $65.8M | -40% | +6% |
| Net earnings | −$2.1M | -107% | — |
| Operating cash flow | $11.7M | -89% | +95% |
What changed
Revenue was $810.9M in Q1 2026, up 4% year over year and down 8% from the previous quarter. Private insurance was the largest line at 49% of revenue. Government added $28.9M year over year (up 9%), 83% of the total change. Self-pay declined 4%.
Operating profit was $65.8M, a 8.1% margin (up 0.1 points year over year). Of the extra revenue versus Q1 2025, 11% reached operating profit, above the 8% margin then. Total costs grew 4% against revenue growth of 4%. The quarter ended with a net loss of $2.1M, after a profit of $29.0M the previous quarter. Net interest and other expense of $69.1M was the main reason.
Operating cash flow was $11.7M (up 95% year over year). Non-cash charges added back $38.5M of depreciation and amortization and $5.8M of share-based compensation. Working capital and other items used $30.5M. Capital expenditures of $16.0M exceeded it, leaving free cash flow of −$4.3M.
Questions
What was Surgery Partners' revenue in the first quarter 2026?
Surgery Partners (SGRY) reported revenue of $811M for the first quarter 2026 (Q1 2026), +4% from a year earlier and -8% from the quarter before.
Was Surgery Partners profitable in the first quarter 2026?
Operating profit was $65.8M (8.1% of revenue) and net loss $2.1M.
Source: Surgery Partners 10-Q on SEC EDGAR.