Surgery Partners, Inc. (NASDAQ:SGRY) Q2 2023 Earnings Conference Call August 1, 2023 8:30 AM ET
Company Participants
Dave Doherty - CFO
Wayne DeVeydt - Executive Chairman
Eric Evans - CEO
Conference Call Participants
Jason Cassorla - Citigroup
Kevin Fischbeck - Bank of America
Gary Taylor - Cowen
Brian Tanquilut - Jefferies
Whit Mayo - Leerink Partners
Lisa Gill - JPMorgan
Operator
Good morning, and welcome to the Surgery Partners Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Dave Doherty, CFO. Please go ahead.
Dave Doherty
Good afternoon. My name is Dave Doherty, CFO of Surgery Partners and I am here with our CEO, Eric Evans and our Executive Chairman, Wayne DeVeydt. Thank you for joining us for our second quarter 2023 announcement.
During our call, we’ll make forward-looking statements. There are risk factors that could cause future results to be materially different from these statements. These risk factors are described in this morning’s press release and the reports we file with the SEC, each of which are available on our website at surgerypartners.com. The company does not undertake any duty to update these forward-looking statements.
In addition, we will reference certain financial measures that are considered non-GAAP, which we believe can be useful in evaluating our performance. The presentation of this information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. These measures are reconciled to the most applicable GAAP measure in this morning’s press release.
With that, I’ll turn the call over to Wayne. Wayne?
Wayne DeVeydt
Thank you, Dave. Good morning and thank you all for joining us today. We are pleased to report another quarter of strong topline revenue of $667.6 million, an adjusted EBITDA of $100.2 million, both of which exceeded our expectations inclusive of the cyber headwind that occurred in the quarter.
Before we dive into our financial results, I want to remind everyone that in late May, a few of our facilities in Idaho were impacted by a cyber event. Out of an abundance of caution, we immediately enacted a well-rehearsed business continuity plan designed to help protect our patients, key stakeholders and the integrity of our IT environment. This deliberate process was completed within the month of June and all activities in these facilities have returned to normal.