01:36 PM EDT, 05/07/2024 (MT Newswires) -- (Adds stock move in first paragraph)

Surgery Partners ( SGRY ) advanced almost 9% Tuesday, after reporting improved Q1 results that exceeded Wall Street expectations and the outpatient surgery firm also raising its 2024 revenue forecast above the analyst consensus.

The company this morning reported Q1 adjusted earnings of $0.10 per diluted share, up from $0.08 a year earlier. Analysts polled by Capital IQ expected $0.08.

Revenue for the quarter ended March 31 rose to $717.4 million from $666.2 million a year earlier. Analysts had been looking for $698.2 million.

The company also said it has raised its 2024 revenue guidance to at least $3.05 billion. That compares with its prior outlook expecting more than $3.0 billion and the analyst consensus call looking for $3.01 billion.

Shares of the company were up nearly 4% in premarket activity.

Price: 27.89, Change: +2.29, Percent Change: +8.95