$SGRY
Surgery Partners, Inc.

2023 Q4 Form 10-Q Financial Statement

#000163883323000097 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $735.4M $674.1M $620.6M
YoY Change 4.0% 8.62% 10.98%
Cost Of Revenue $521.2M $487.2M $467.8M
YoY Change 3.78% 4.15% 13.19%
Gross Profit $214.2M $186.9M $152.8M
YoY Change 4.54% 22.32% 4.73%
Gross Profit Margin 29.13% 27.73% 24.62%
Selling, General & Admin $41.50M $57.90M $39.50M
YoY Change -15.82% 46.58% -19.22%
% of Gross Profit 19.37% 30.98% 25.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $31.10M $28.90M $29.80M
YoY Change 5.07% -3.02% 18.25%
% of Gross Profit 14.52% 15.46% 19.5%
Operating Expenses $68.30M $591.5M $546.5M
YoY Change -2.01% 8.23% 10.27%
Operating Profit $145.9M $82.60M $74.10M
YoY Change 7.91% 11.47% 16.51%
Interest Expense -$43.90M -$49.80M -$60.70M
YoY Change -22.44% -17.96% 11.99%
% of Operating Profit -30.09% -60.29% -81.92%
Other Income/Expense, Net $1.200M $1.100M
YoY Change 9.09%
Pretax Income $52.70M $32.80M $13.40M
YoY Change 58.73% 144.78% 42.55%
Income Tax $6.000M $3.100M $7.800M
% Of Pretax Income 11.39% 9.45% 58.21%
Net Earnings -$1.000M -$4.900M -$25.00M
YoY Change -95.73% -80.4% 9.17%
Net Earnings / Revenue -0.14% -0.73% -4.03%
Basic Earnings Per Share -$0.04 -$0.28
Diluted Earnings Per Share -$0.01 -$0.04 -$0.28
COMMON SHARES
Basic Shares Outstanding 126.5M shares 126.5M shares 89.94M shares
Diluted Shares Outstanding 125.7M shares 88.91M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $195.9M $236.0M $154.8M
YoY Change -30.75% 52.45% -53.15%
Cash & Equivalents $195.9M $236.0M $154.8M
Short-Term Investments
Other Short-Term Assets $96.50M $73.30M $56.60M
YoY Change 22.15% 29.51% 96.53%
Inventory $75.20M $69.40M $68.60M
Prepaid Expenses $31.00M $34.70M $36.00M
Receivables $496.4M $462.8M $422.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $895.0M $876.2M $738.3M
YoY Change -2.82% 18.68% -12.28%
LONG-TERM ASSETS
Property, Plant & Equipment $1.224B $1.184B $1.151B
YoY Change 5.91% 2.92% 33.39%
Goodwill $4.326B $4.245B $4.145B
YoY Change 4.57% 2.41% 14.71%
Intangibles $54.80M
YoY Change 29.55%
Long-Term Investments $184.1M $196.3M $189.1M
YoY Change -3.26% 3.81% 111.05%
Other Assets $103.3M $117.4M $169.1M
YoY Change -28.36% -30.57% 236.18%
Total Long-Term Assets $5.982B $5.904B $5.798B
YoY Change 3.83% 1.82% 21.05%
TOTAL ASSETS
Total Short-Term Assets $895.0M $876.2M $738.3M
Total Long-Term Assets $5.982B $5.904B $5.798B
Total Assets $6.877B $6.780B $6.537B
YoY Change 2.91% 3.73% 16.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $171.8M $148.8M $138.4M
YoY Change 13.32% 7.51% 18.8%
Accrued Expenses $219.9M $222.6M $225.5M
YoY Change 15.55% -1.29% 10.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $73.30M $62.10M $116.9M
YoY Change 16.72% -46.88% 92.27%
Total Short-Term Liabilities $523.0M $501.4M $624.3M
YoY Change 6.0% -19.69% 15.5%
LONG-TERM LIABILITIES
Long-Term Debt $2.702B $2.640B $3.103B
YoY Change 5.58% -14.9% 11.13%
Other Long-Term Liabilities $41.10M $78.90M $95.60M
YoY Change -45.49% -17.47% -23.15%
Total Long-Term Liabilities $41.10M $78.90M $95.60M
YoY Change -45.49% -17.47% -23.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $523.0M $501.4M $624.3M
Total Long-Term Liabilities $41.10M $78.90M $95.60M
Total Liabilities $564.1M $580.3M $719.9M
YoY Change -0.83% -19.39% 8.27%
SHAREHOLDERS EQUITY
Retained Earnings -$569.2M -$568.2M -$533.9M
YoY Change 2.14% 6.42% 6.23%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.987B $2.005B $1.173B
YoY Change
Total Liabilities & Shareholders Equity $6.877B $6.780B $6.537B
YoY Change 2.91% 3.73% 16.07%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$1.000M -$4.900M -$25.00M
YoY Change -95.73% -80.4% 9.17%
Depreciation, Depletion And Amortization $31.10M $28.90M $29.80M
YoY Change 5.07% -3.02% 18.25%
Cash From Operating Activities $62.60M $104.6M $29.70M
YoY Change 769.44% 252.19% 99.33%
INVESTING ACTIVITIES
Capital Expenditures $19.80M $18.90M -$17.30M
YoY Change -12.78% -209.25% 11.61%
Acquisitions
YoY Change
Other Investing Activities -$38.30M -$6.700M -$37.00M
YoY Change -22.63% -81.89% -56.73%
Cash From Investing Activities -$58.10M -$25.60M -$54.30M
YoY Change -19.53% -52.85% -46.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -44.60M -20.40M -48.00M
YoY Change -123.1% -57.5% -0.62%
NET CHANGE
Cash From Operating Activities 62.60M 104.6M 29.70M
Cash From Investing Activities -58.10M -25.60M -54.30M
Cash From Financing Activities -44.60M -20.40M -48.00M
Net Change In Cash -40.10M 58.60M -72.60M
YoY Change -131.3% -180.72% -45.98%
FREE CASH FLOW
Cash From Operating Activities $62.60M $104.6M $29.70M
Capital Expenditures $19.80M $18.90M -$17.30M
Free Cash Flow $42.80M $85.70M $47.00M
YoY Change -376.13% 82.34% 54.61%

Facts In Submission

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dei Document Fiscal Period Focus
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dei Amendment Flag
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