USPI's earnings in 2023: A breakdown

Here is a look at how Dallas-based ASC-operating behemoth United Surgical Partners International has performed financially in 2023 thus far:

First quarter

USPI reported $340 million in adjusted earnings in the first quarter. The company saw 7.8% growth in same-facility volume, which is attributed to higher acuity service line expansion and growth in the company's physician population. It added three ASCs in the first quarter and completed two post-transaction buy-ups. The company said surgical cases were 107% of prepandemic levels. 

Second quarter

USPI's operating revenue was $942 million in the second quarter — a 22.2% increase year over year. Its same-facility systemwide surgical cases were up 6.6% in the quarter and 7.2% since the start of 2023. Net revenue per case was up 2.9 percent for the quarter. By the end of the quarter, the company had ownership in 455 ASCs and 24 surgical hospitals in 35 states. 

Third quarter 

The company earned $941 million in third-quarter operating revenue, a growth of 16.7% compared to the same period last year. It reported a 4.1% increase in same-facility systemwide surgical cases year over year. USPI reported adjusted earnings before interest, taxes, depreciation and amortization of $370 million, up from $319 million in the third quarter of 2022. 

For the nine months ending Sept. 30, USPI hit $2.8 billion in revenue, compared to $2.3 billion for the same period last year. It now has interests in 457 ASCs, 316 of which are consolidated, and 24 surgical hospitals, eight of which are consolidated, in 35 states.

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