SGRY GUIDED FOR MARGIN EXPANSION WHILE HEADWINDS MOUNTED -- LEVI & KORSINSKY, LLP INVESTIGATES

Core Viewpoint - Surgery Partners (SGRY) faced a significant decline in stock value following disappointing Q4 2025 results and a downgraded FY 2026 outlook, raising questions about the accuracy of prior guidance regarding margin expansion and growth expectations [1][3]. Group 1: Financial Performance and Guidance - CEO Eric Evans previously expressed "high confidence" in the company's growth outlook and anticipated "significant visibility" into expected rate growth for 2025 [2]. - CFO Dave Doherty projected a minimum of $200 million in M&A capital deployment and indicated comfort with the company's cash-flow generation and growth trajectory [2]. - The FY 2026 guidance downgrade highlighted that factors such as payer-mix shifts, anesthesia-cost dynamics, and lower-than-expected case growth were already impacting margins at the time of earlier optimistic statements [3]. Group 2: Acquisition and Capital Deployment - Surgery Partners aimed for at least $200 million in acquisitions but only managed to deploy $182 million in capital towards acquisitions in 2025 [3]. - The company had plans for the development of at least 10 new ambulatory surgery centers annually, projecting meaningful long-term organic growth starting two years post-opening of each facility [2].