Healthcare company Surgery Partners (NASDAQ: SGRY) will be announcing earnings results this Monday before market hours. Here’s what to expect.
Surgery Partners beat analysts’ revenue expectations last quarter, reporting revenues of $810.9 million, up 4.5% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates.
Is Surgery Partners a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Surgery Partners’s revenue to be flat year on year, slowing from the 8.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Surgery Partners has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Surgery Partners’s peers in the outpatient & specialty care segment, some have already reported their Q2 results, giving us a hint as to what we can expect. LifeStance Health Group delivered year-on-year revenue growth of 26.1%, beating analysts’ expectations by 5%, and agilon health reported revenues up 7.2%, topping estimates by 2.9%. LifeStance Health Group traded up 4.5% following the results while agilon health was down 19.5%.
Read our full analysis of LifeStance Health Group’s results here and agilon health’s results here.
There has been positive sentiment among investors in the outpatient & specialty care segment, with share prices up 3.2% on average over the last month. Surgery Partners is down 5.3% during the same time and is heading into earnings with an average analyst price target of $18.64 (compared to the current share price of $15.53).
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