Filing Flows › Surgery Partners (SGRY) › Q2 2026 › vs Q2 2025
Surgery Partners (SGRY) Q2 2026 vs Q2 2025 (year over year)
Surgery Partners's revenue rose $22.7M (+3%) from $826M in Q2 2025 to $849M in Q2 2026. The biggest changes: Patient service revenues +$20.0M (+2%); Other +$2.7M (+15%). Operating margin 12.0% against 13.5% (-1.5 pts).
Surgery Partners, Q2 2026: revenue $849M (+3% year over year), operating margin 12.0%, net earnings $29.7M, operating cash flow $59.3M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 12.0% | 13.5% | -1.5 pts |
| Net margin | 3.5% | 5.4% | -1.9 pts |
| Free cash flow margin | 4.4% | 7.0% | -2.6 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Private insurance | $401M | $419M | −$17.9M | -4% |
| Government | $381M | $345M | $35.5M | +10% |
| Self-pay | $23.5M | $21.9M | $1.6M | +7% |
| Other service revenues | $22.8M | $22.0M | $800K | +4% |
| Patient service revenues | $828M | $808M | $20.0M | +2% |
| Other | $20.6M | $17.9M | $2.7M | +15% |
| Revenue | $849M | $826M | $22.7M | +3% |
| Operating profit | $102M | $112M | −$9.6M | -9% |
| Costs & expenses | $747M | $714M | $32.3M | +5% |
| Pre-tax earnings | $32.3M | $43.8M | −$11.5M | -26% |
| Other expense, net | $69.8M | $67.9M | $1.9M | +3% |
| General & admin | $36.3M | $36.1M | $200K | +0.6% |
| Other operating costs | $710M | $678M | $32.1M | +5% |
| Net earnings | $29.7M | $44.9M | −$15.2M | -34% |
| Income tax | $2.6M | −$1.1M | $3.7M | — |
| Depreciation & amortization | $39.3M | $40.3M | −$1.0M | -2% |
| Share-based compensation | $3.8M | $6.8M | −$3.0M | -44% |
| Working capital & other | $13.5M | $10.7M | $2.8M | +26% |
| Operating cash flow | $59.3M | $81.3M | −$22.0M | -27% |
| Free cash flow (OCF − capex) | $37.5M | $57.9M | −$20.4M | -35% |
| Capital expenditures | $21.8M | $23.4M | −$1.6M | -7% |
Questions
How much did Surgery Partners's revenue grow year over year in Q2 2026?
Surgery Partners's revenue rose $22.7M (+3%) from $826M in Q2 2025 to $849M in Q2 2026.
What drove Surgery Partners's revenue change in Q2 2026?
Patient service revenues +$20.0M (+2%); Other +$2.7M (+15%).