Surgery Partners Inc (NASDAQ:SGRY), a leading short-stay surgical facility owner and operator, stock fell 0.83% (As on March 5, 11:18:27 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY 24. Same-facility revenues increased 5.6% for the fourth quarter and 8.0% for the full year. Same-facility cases increased 5.1% for the fourth quarter and 3.9% for the full year. Net loss attributable to Surgery Partners, Inc. was $108.5 million for the fourth quarter and $168.1 million for the full year. Adjusted EBITDA increased 15.1% to $163.8 million for the fourth quarter. The Company is not expected to pay federal income taxes until 2029. Surgery Partners had cash and cash equivalents of $269.5 million and $501.5 million of borrowing capacity under its revolving credit facility as of December 31, 2024. Cash flows from operating activities was $111.4 million for the fourth quarter of 2024, compared to $62.6 million for the same period in 2023. The year-over-year change is due to operational growth and working capital improvements. Full year 2024 operating cash flows were $300.1 million compared to $293.8 million in 2023. The Company’s ratio of total net debt to EBITDA, as calculated under the Company’s credit agreement, was approximately 3.7x at the end of the fourth quarter of 2024.

Further, during 2024 the company deployed nearly $400 million on accretive acquisitions and opened eight de novo facilities to further expand the portfolio of high quality, short-stay surgical facilities offering exceptional value to the patients, health plans, and the communities it serves.

Meanwhile, the company has received a non-binding proposal, dated January 27, 2025, from Bain Capital Private Equity, LP (“Bain Capital”) to acquire all of the outstanding shares of Surgery Partners not already owned by Bain Capital for a cash consideration of $25.75 per share (the “Bain Capital Proposal”). Bain Capital and its affiliates own approximately 39% of the Company’s outstanding common stock, based on the Schedule 13D/A filing dated January 28, 2025.

SGRY in the fourth quarter of FY 24 has reported the adjusted earnings per share of 44 cents, beating the analysts’ estimates for the adjusted earnings per share of 39 cents. The company had reported the adjusted revenue growth of 17.5 percent to $864.4 million in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $827.9 million.

Surgery Partners Inc sees FY 2025 revenue to be in the range of $3.30B-$3.45B versus the analyst consensus of $3.38B. In fiscal 2025, Adjusted EBITDA is expected to be in the range of $555 million to $565 million.