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Surgery Partners down 35% after ugly Q2, lowered guidance

Published 08/09/2017, 11:05 AM
Updated 08/09/2017, 11:05 AM
© Reuters.  Surgery Partners down 35% after ugly Q2, lowered guidance
  • Thinly traded Surgery Partners (SGRY -34.7%) is getting roughed up in early trading on more than a 10x surge in volume on the heels of its Q2 results the badly missed consensus.
  • Revenues were $288.4M, down 0.5% while EPS turned negative ($0.09) (-325%). The company attributed the soft results to the broad industry trend of slower patient volumes, a shift to less favorable payers and slow improvement of its integrated physician practice acquisition.
  • 2017 Guidance: Revenues: $1.18B - 1.20B (+8% from midpoint, down from Q1 guidance of 9 - 11% growth); Non-GAAP EBITDA: $174M - 181M (down 1% from midpoint and down from Q1 guidance of 10 - 15% growth) on a standalone basis.
  • Previously: Surgery Partners misses by $0.19, misses on revenue (Aug. 8)
  • Now read: Q2 beat propels Natera, up 30%


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