Filing Flows › Surgery Partners (SGRY) › Q4 2024
Surgery Partners (SGRY) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 7, 2025
Surgery Partners (SGRY) reported revenue of $864M for the fourth quarter 2024 (Q4 2024), +18% from a year earlier and +12% from the quarter before. Operating margin was 14.7%, net loss $46.6M (5.4% of revenue).
Surgery Partners, Q4 2024: revenue $864M (+18% year over year), operating margin 14.7%, net loss $46.6M, operating cash flow $111M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $864M | +12% | +18% |
| Operating profit | $127M | — | — |
| Net earnings | −$46.6M | — | — |
| Operating cash flow | $111M | +71% | +78% |
| Free cash flow | $89.1M | +98% | +108% |
What changed
Revenue was $864.4M in Q4 2024, up 18% year over year and up 12% from the previous quarter. Private insurance was the largest line at 56% of revenue.
Operating profit was $127.1M, a 14.7% margin (up 0.9 points year over year). Of the extra revenue versus a year earlier, 20% reached operating profit, above the 14% margin then. Total costs grew 16% against revenue growth of 18%. The fastest-growing cost line was General & admin (+72%). The quarter ended with a net loss of $46.6M, after a profit of $6.4M the previous quarter. Net interest and other expense of $52.9M was the main reason.
Operating cash flow was $111.4M (up 78% year over year). Non-cash charges added back $33.9M of depreciation and amortization and $6.2M of share-based compensation. Working capital and other items added $117.9M. Capital expenditures of $22.3M left free cash flow of $89.1M.
Questions
What was Surgery Partners' revenue in the fourth quarter 2024?
Surgery Partners (SGRY) reported revenue of $864M for the fourth quarter 2024 (Q4 2024), +18% from a year earlier and +12% from the quarter before.
Was Surgery Partners profitable in the fourth quarter 2024?
Operating profit was $127M (14.7% of revenue) and net loss $46.6M.
Source: Surgery Partners 10-K on SEC EDGAR.