Surgery Partners, Inc. (NASDAQ:SGRY) Q4 2022 Earnings Conference Call March 1, 2023 10:00 AM ET
Company Participants
Dave Doherty – Executive Vice President and Chief Financial Officer
Wayne DeVeydt – Executive Chairman
Eric Evans – Chief Executive Officer
Conference Call Participants
Ben Rossi – Citigroup
Kevin Fischbeck – Bank of America
Tao Qiu – Stifel
Ben Hendrix – RBC Capital Markets
Bill Sutherland – Benchmark
Lisa Gill – JPMorgan
Gary Taylor – Cowen and Company
Whit Mayo – SVB Securities
Brian Tanquilut – Jefferies
Operator
Greetings, and welcome to the Surgery Partners, Inc. Fourth Quarter 2022 Earnings 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. Please go ahead, sir.
Dave Doherty
Good morning, and welcome to Surgery Partners' fourth quarter 2022 earnings call. I'm Dave Doherty, the company's CFO. With me today is Eric Evans, CEO; and Wayne DeVeydt, our Executive Chairman. During this call, we will make forward-looking statements. Risk factors that may impact those statements and could cause actual future results to differ materially from currently projected results are described in this morning's press release and the reports we file with the SEC. The company does not undertake any duty to update such forward-looking statements.
Additionally, during today's call, we will discuss certain non-GAAP measures, which we believe can be useful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of these measures can be found in this morning's press release, which is posted on our website at surgerypartners.com and in our most recent annual report on Form 10-K when filed.
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. This morning, we are pleased to report full year 2022 adjusted EBITDA of $380.2 million, 12% higher than the prior year, and over 20% year-over-year growth when adjusting for the non-recurring benefit of grants. Including our non-consolidating joint ventures, we performed approximately 680,000 cases in 2022, nearly 12% more than 2021, with all specialties growing in line or in excess of our expectations, despite the early 2022 impact from the Omicron variant.