Surgery Partners (SGRY) Insider Teresa Deluca Purchases 10,000 S
Teresa Deluca, a director at Surgery Partners Inc (SGRY), recently purchased 10,000 shares at $14.35 each, increasing her total holdings to 66,843 shares and signaling confidence in the company. Despite this insider buying, the stock is classified as a "Possible Value Trap" by GuruFocus, trading significantly below its intrinsic value, which suggests investors should exercise caution. The mixed insider activity and balanced guru ownership indicate a cautious but not entirely negative outlook for the surgical services provider.
Surgery Partners Director Teresa DeLuca Acquires 10,000 Shares at $14.35 Each
Surgery Partners, Inc. director Teresa DeLuca purchased 10,000 shares of the company's common stock at a weighted average price of $14.35 per share on August 18, 2026. This transaction, revealed in a Form 4 filing on August 19, 2026, increases her direct beneficial ownership to 66,843 common shares. The filing indicates a commitment by DeLuca to provide detailed pricing information upon request.
Surgery Partners (SGRY) Q2 2026 Earnings Call Transcript
Surgery Partners (SGRY) reported Q2 2026 earnings, highlighting revenue of $848.9 million and Adjusted EBITDA of $125.2 million, driven by high-acuity surgical growth. The company announced the significant divestiture of its Idaho Falls market for $795 million to focus on a pure-play short-stay surgical model, aiming to simplify operations and reduce debt. Despite missing the annual M&A investment target, Surgery Partners reaffirmed its full-year 2026 guidance and emphasized its strategy of organic growth, de novo development, and disciplined capital allocation.
Surgery Partners Beats Q2 Estimates, Divests Idaho Falls Hospitals in Strategic Pivot
Surgery Partners exceeded Q2 revenue and adjusted EBITDA estimates, driven by growth in higher-acuity procedures. The company announced the strategic divestiture of its Idaho Falls hospitals to Intermountain Health for $795 million, a move expected to reduce leverage and exposure to acute care services. Management reaffirmed its full-year 2026 guidance and highlighted strong physician recruitment and ongoing portfolio optimization.
Does Surgery Partners’ (SGRY) Slower M&A Pace Clarify or Complicate Its ASC-Focused Strategy?
Surgery Partners (SGRY) recently reported Q2 2026 results with higher sales but wider net losses and a slower-than-planned M&A pace. The company is prioritizing portfolio optimization and divestitures to better align with its short-stay surgical focus, while still reaffirming its 2026 revenue guidance. This strategy emphasizes disciplined deal selection and tuck-in opportunities in a fragmented market, but investors should consider the potential impact of rising interest costs and slower deal flow on earnings.
Does Surgery Partners’ (SGRY) Slower M&A Pace Clarify or Complicate Its ASC-Focused Strategy?
Surgery Partners (SGRY) reported Q2 2026 results with higher sales but wider losses, alongside a slower-than-planned M&A pace as it focuses on portfolio optimization. Despite reaffirming revenue guidance, the company's disciplined but slower acquisition strategy, combined with rising interest costs, poses questions about its ability to achieve profitability targets and support its investment case around scale in ambulatory surgery centers. Investors are encouraged to assess how smaller tuck-in deals and divestitures will impact future earnings.
Surgery Partners (SGRY) Q2 2026 Earnings Call Transcript
Surgery Partners (SGRY) reported Q2 2026 earnings, highlighting revenue of $848.9 million and Adjusted EBITDA of $125.2 million. The company announced the significant divestiture of its Idaho Falls market for $795 million, aiming to streamline operations, reduce debt, and focus on its core short-stay surgical model. Despite missing its M&A investment target for 2026, the company reaffirmed its full-year guidance and emphasized growth through high-acuity procedures, physician recruitment, and de novo development.
The Top 5 Analyst Questions From Surgery Partners’s Q2 Earnings Call
Surgery Partners reported strong Q2 results, exceeding revenue and adjusted EBITDA expectations due to growth in high-acuity surgical procedures. Analysts focused on key areas including the sustainability of high-acuity procedure growth, payer mix dynamics, the financial implications of the Idaho Falls transaction, commercial payer pressures, and future acquisition strategies. The company provided optimistic outlooks on these fronts, with management addressing concerns about flat overall surgical volumes and evolving market conditions.
RBC Capital Adjusts Price Target on Surgery Partners to $19 From $20, Keeps Outperform Rating
RBC Capital has adjusted its price target for Surgery Partners (SGRY) to $19, down from the previous $20, while maintaining an "Outperform" rating on the stock. This revision reflects a minor change in their valuation outlook for the company. The "Outperform" rating suggests that RBC Capital expects Surgery Partners to perform better than the broader market or its sector.
King Street Capital discloses 4.6% Surgery Partners (SGRY) holding in Schedule 13G
King Street Capital Management, L.P., along with King Street Capital Management GP, L.L.C., and Brian J. Higgins, have reported a joint beneficial ownership of 6,058,141 shares of Surgery Partners, Inc. (SGRY) common stock. This holding represents 4.6% of the company's outstanding shares, based on 130,918,260 shares as of August 3, 2026. The disclosure was made via a Schedule 13G filing, indicating shared voting and dispositive power over these shares.
Surgery Partners (SGRY) Reaffirmed Guidance On Revenue Growth, Is It Still A Bargain?
Surgery Partners (SGRY) recently reaffirmed its full-year guidance on revenue growth, despite continued net losses, by focusing on higher acuity procedures. The stock has seen a short-term rebound but remains undervalued according to analyst narratives, with a fair value estimated at $17.95 compared to its current share price of $15.19. However, the company faces challenges from higher interest costs and slower than planned acquisitions, which could impact margins and cash generation.
Surgery Partners (SGRY) Reaffirmed Guidance On Revenue Growth, Is It Still A Bargain?
Surgery Partners (SGRY) has garnered attention after reaffirming its full-year guidance and emphasizing a focus on higher acuity procedures, despite continued net losses. The company's stock is considered 15.4% undervalued, with a fair value estimated at $17.95, driven by the migration of high-acuity surgical procedures to outpatient settings and investments in robotics. However, the narrative faces risks from higher interest costs and slower-than-planned acquisitions.
Surgery Partners (SGRY) Reaffirmed Guidance On Revenue Growth, Is It Still A Bargain?
Surgery Partners (SGRY) recently reaffirmed its full-year guidance for revenue growth despite continued net losses, focusing on higher acuity procedures. The company's stock has seen a short-term rebound, but its one-year return remains weaker, with a popular narrative suggesting it is 15.4% undervalued compared to a fair value of $17.95. This valuation is driven by the migration of high-acuity surgical procedures to outpatient settings and strategic investments, though risks like higher interest costs and slower acquisitions persist.
TD Cowen Initiates Surgery Partners(SGRY.US) With Buy Rating, Announces Target Price $19
TD Cowen has initiated coverage on Surgery Partners (SGRY.US) with a Buy rating. The firm has set a price target of $19 for the company's stock. This indicates a positive outlook on Surgery Partners' future performance.
Outpatient & Specialty Care Stocks Q2 Highlights: Surgery Partners (NASDAQ:SGRY)
The outpatient and specialty care industry showed strong Q2 results, with revenues beating analysts' consensus estimates. Surgery Partners (NASDAQ:SGRY) reported a 2.7% year-on-year revenue increase to $848.9 million, exceeding expectations, but delivered the slowest revenue growth and weakest full-year guidance among its peers. In contrast, LifeStance Health Group (NASDAQ:LFST) achieved the highest analyst estimate beat and fastest revenue growth, with revenues up 26.1% to $435.4 million.
Surgery Partners (NASDAQ:SGRY) Downgraded by Zacks Research to Hold
Zacks Research downgraded Surgery Partners (NASDAQ:SGRY) from "Strong Buy" to "Hold," leading to a 6% drop in the stock price despite the company exceeding Q2 earnings and revenue estimates. While the broader analyst consensus remains a "Moderate Buy" with an average target of $19.45, concerns were raised about weakening profitability, a wider net loss, and elevated net debt. The company reaffirmed its full-year guidance, suggesting continued growth in revenue and adjusted EBITDA.
Surgery Partners, Inc. (SGRY) Investor Outlook: Navigating a 16.84% Potential Upside in the Healthcare Sector
Surgery Partners, Inc. (SGRY) is a key player in the healthcare sector, showing a promising 16.84% potential upside according to analysts. The company operates a network of surgical facilities specializing in non-emergency procedures, with a market capitalization of $2.09 billion. Despite no dividend yield, its forward P/E ratio and favorable analyst ratings suggest confidence in future growth.
Surgery Partners (SGRY) Stock Drops As Idaho Falls Sale Reshapes Debt Story
Surgery Partners (SGRY) stock dropped almost 6% despite a recent quarter showing revenue of US$849 million and adjusted EBITDA margin near 14.7%. The company plans to divest its Idaho Falls asset for US$795 million to reduce debt and simplify its business, though the sale will only trim leverage by about 0.3 turns, leaving balance sheet risks elevated. While bulls point to operational growth in higher acuity outpatient services and physician recruitment, bears highlight slow volume growth, pressured margins, and high leverage as ongoing concerns.
Surgery Partners, Inc. 2026 Q2 - Results - Earnings Call Presentation (NASDAQ:SGRY) 2026-08-10
Surgery Partners, Inc. (SGRY) has released its Q2 2026 earnings call presentation. The company reported an EPS of $0.10, beating estimates by $0.04, and revenue of $848.90M, surpassing expectations by $18.58M with a 2.75% year-over-year increase. This article provides access to the slide deck published in conjunction with the earnings call.
Cantor Fitzgerald reiterates Surgery Partners stock rating at Overweight
Cantor Fitzgerald has reiterated its Overweight rating and $18.00 price target for Surgery Partners (NASDAQ:SGRY) stock, citing that the market undervalues the positive impact of the Idaho Falls divestiture on cash conversion. This sale is expected to improve free cash flow conversion by approximately 3% and accelerate organic growth. The firm maintains its positive long-term outlook for Surgery Partners, bolstered by portfolio optimization and favorable market trends.
Benchmark reiterates Buy rating on Surgery Partners stock at $24
Benchmark has reiterated a Buy rating on Surgery Partners (NASDAQ:SGRY) with a $24 price target, implying a 50% upside from its current stock price. This follows the company's Q2 results and reaffirmed full-year guidance, including details on the planned sale of two Idaho Falls hospitals for $795 million to optimize its portfolio. Despite a recent loss per share, analysts predict profitability for the company this year, with significant EBITDA margin improvement expected in the second half of the year.
Surgery Partners (SGRY) Q2 Earnings: What To Expect
Surgery Partners (SGRY) is set to announce its Q2 earnings before market hours on Monday. The company beat revenue expectations last quarter but the market anticipates flat year-on-year revenue growth for the upcoming quarter, a slowdown from the previous year. Analysts have reconfirmed their estimates, and while the outpatient & specialty care segment has seen positive investor sentiment, Surgery Partners's stock is down heading into earnings.
RBC Capital Adjusts Price Target on Surgery Partners to $19 From $20, Keeps Outperform Rating
RBC Capital has adjusted its price target for Surgery Partners (SGRY) from $20 to $19, while maintaining an "Outperform" rating on the stock. This adjustment follows several recent announcements from Surgery Partners, including their Q2 2026 earnings report, which showed increased revenue despite a decline in earnings, and the company's reaffirmation of its earnings guidance for 2026. Additionally, Surgery Partners recently entered into definitive agreements to sell ownership stakes in two hospitals for $795 million.
Earnings call transcript: Surgery Partners misses Q2 2026 EPS, revenue beats
Surgery Partners (SGRY) reported a wider-than-expected loss for Q2 2026, with adjusted earnings of negative $0.12 per share against an estimated profit of $0.06, despite revenue beating forecasts at $848.9 million. The company announced a significant portfolio optimization with the sale of its Idaho Falls market interests for approximately $795 million, aiming to streamline operations, focus on core short-stay surgical facilities, and strengthen its balance sheet. Management reaffirmed full-year guidance, excluding the impact of the pending Idaho Falls transaction, and highlighted strong same-facility revenue growth driven by higher acuity procedures like orthopedics and vascular surgeries.
Surgery Partners, Inc. 2026 Q2 - Results - Earnings Call Presentation (NASDAQ:SGRY)
Surgery Partners, Inc. (SGRY) released its Q2 2026 earnings, reporting an EPS of $0.10, which beat estimates by $0.04. The company also reported revenue of $848.90 million, a 2.75% year-over-year increase, exceeding expectations by $18.58 million. This article provides access to the slide deck published in conjunction with their earnings call.
Surgery Partners (NASDAQ: SGRY) posts Q2 2026 loss and plans $795M hospital sale
Surgery Partners (NASDAQ: SGRY) reported a widened net loss of $15.0 million in Q2 2026, up from $2.5 million a year prior, despite a 2.7% increase in revenues to $848.9 million, primarily due to rising operating costs and interest expenses. The company also disclosed plans to sell controlling interests in two hospitals for approximately $795 million, a transaction pending regulatory and board approvals, which would include amounts related to associated debt. As of June 30, 2026, Surgery Partners had $216.7 million in cash and $3,751.2 million in total debt.
Is Surgery Partners Inc (SGRY) a Value Trap? Q2 EPS at -$0.15 on $848.9 Million Revenue; GF Score: 57/100
Surgery Partners Inc (SGRY) reported Q2 2026 results with revenue up 2.7% year-over-year to $848.9 million, but a net loss of $15 million, significantly higher than the $2.5 million loss in Q2 2025. Despite revenue growth and reaffirmed 2026 guidance, the company faces challenges with declining profitability and rising operating expenses, indicated by a low GF Score of 57/100 and moderate financial strength. While undervalued at $15.53 compared to a GF Value of $26.82, its low profitability and growth ranks suggest caution for investors.
Surgery Partners, Inc. Announces Second Quarter 2026 Results Reaffirms Full Year 2026 Guidance
Surgery Partners, Inc. announced its financial results for the second quarter ended June 30, 2026, reporting a 2.7% increase in revenue to $848.9 million and reaffirming its full-year 2026 revenue guidance of $3.35 billion to $3.45 billion and Adjusted EBITDA of at least $530 million. The company's CEO, Eric Evans, highlighted progress in strategic priorities and portfolio optimization, including the pending Idaho Falls transaction, while CFO Dave Doherty emphasized the positive impact of ongoing initiatives and disciplined capital allocation. Despite a net loss attributable to Surgery Partners, Inc. of $15.0 million, same-facility revenues saw a 5.0% increase, reflecting momentum in their operations.
Surgery Partners Reports $15M Q2 Net Loss, Revenue Up 2.7%
Surgery Partners (NASDAQ: SGRY) reported a Q2 2026 net loss of $15.0 million, widening from $2.5 million in the prior year, despite a 2.7% increase in revenue to $848.9 million. Adjusted EBITDA decreased to $125.2 million from $129.0 million, and operating cash flow also declined. The company reaffirmed its full-year 2026 guidance for revenue between $3.35 billion and $3.45 billion and Adjusted EBITDA of at least $530 million, excluding a pending divestiture.
Surgery Partners (NASDAQ:SGRY) Beats Q2 CY2026 Sales Expectations
Surgery Partners (NASDAQ:SGRY) reported Q2 CY2026 results, exceeding Wall Street's revenue expectations with sales up 2.7% year-on-year to $848.9 million. The company's non-GAAP profit of $0.10 per share also beat analyst estimates by 49.4%. Despite a year-on-year decrease in adjusted operating margin and EPS, the company reconfirmed its full-year revenue and EBITDA guidance, with analysts anticipating significant EPS growth in the next 12 months.
Surgery Partners (SGRY) Q2 Earnings: What To Expect
Surgery Partners (SGRY) is set to announce its Q2 earnings before market hours on Monday. The company beat revenue and EPS expectations last quarter, but analysts expect flat year-on-year revenue growth for the upcoming quarter. Despite some positive sentiment in the outpatient & specialty care segment, Surgery Partners' share price has been down, and the company has missed Wall Street's revenue estimates multiple times in the past two years.
Surgery Partners, Inc. (SGRY) stock price, news, quote and history
This Yahoo Finance page provides comprehensive financial information for Surgery Partners, Inc. (SGRY), including its current stock price, recent news, historical data, and analyst insights. It details the company's business overview, performance against benchmarks like the S&P 500, and key financial metrics. The page also features an upcoming Q2 2026 earnings call and comparison tools for similar companies.
SURGERY PARTNERS Q2 2026 Earnings Preview: Recent $SGRY Insider Trading, Hedge Fund Activity, and More
SURGERY PARTNERS ($SGRY) is set to release its Q2 2026 earnings on August 10th, with analysts expecting $846.97 million in revenue and $0.06 EPS. Recent insider trading shows 12 sales and no purchases in the last six months, totaling over $1.2 million in sales by executives. Hedge fund activity indicates mixed sentiment, with 102 institutional investors increasing positions and 74 decreasing, while analysts have a median price target of $20.0 for SGRY.
Surgery Partners Inc (SGRY) Earnings Forecast: Future EPS & Revenue Growth Estimates
This article provides an earnings forecast for Surgery Partners Inc (SGRY), highlighting its current earnings forecast score, analyst ratings, and price targets. It details expected revenue and EPS for upcoming quarters and compares SGRY's ratings to its peers in the Healthcare Providers & Services industry.
Does Surgery Partners' (SGRY) Reaffirmed 2026 Outlook Clarify Its Execution Strength or Strategic Limits?
Surgery Partners, Inc. (SGRY) has reaffirmed its 2026 revenue outlook of US$3.35 billion to US$3.45 billion, signaling management's confidence in operational execution. While this provides near-term clarity, it does not alleviate concerns regarding the company's leverage, rising interest costs on US$2.2 billion of debt, and the need for profitability. Investors are encouraged to consider both the company's positive outlook and more cautious analyst views.
Surgery Partners, Inc. (NASDAQ:SGRY) Given Consensus Rating of "Moderate Buy" by Brokerages
Surgery Partners, Inc. (NASDAQ:SGRY) has received a consensus "Moderate Buy" rating from brokerages, with an average 12-month price target of $21.60. The company recently exceeded earnings expectations, reporting a smaller-than-expected loss and higher revenue. Institutional ownership has also shown a recent increase, indicating growing investor confidence.
Does Surgery Partners' (SGRY) Reaffirmed 2026 Outlook Clarify Its Execution Strength or Strategic Limits?
Surgery Partners (SGRY) recently reaffirmed its 2026 revenue outlook of US$3.35 billion to US$3.45 billion, signaling management's confidence in operational execution. While this provides clearer near-term visibility for investors, it does not fully address existing risks like high leverage, rising interest costs, and execution of acquisitions. Investors still need to monitor if increased volumes translate into improved margins and profitability, as the company remains loss-making despite Q1 2026 revenue of US$810.9 million.
SGRY|Surgery Partners Inc|Price:16.400|Chg%:+0.820
This article provides a comprehensive stock analysis of Surgery Partners Inc (SGRY) from TradingKey, highlighting its strong fundamentals, high growth potential, and "fairly valued" status. The company operates 162 surgical facilities and has seen steady revenue and profit growth. Despite recent weak market performance, analysts rate it as "Buy" with a target price of $19.10, indicating potential upside.
Intermountain acquires 2 Idaho hospitals from Surgery Partners
Intermountain Health is acquiring two Idaho hospitals and over 60 clinics from Surgery Partners for nearly $1.2 billion, with Surgery Partners netting about $800 million. This deal allows Surgery Partners to focus on its outpatient-heavy model, while Intermountain continues its expansion and capital expenditures. The transaction awaits crucial approvals, including from Mountain View Hospital's governing board, and is expected to close in the coming months.
Should Surgery Partners’ Reaffirmed 2026 Revenue Outlook Require Action From Surgery Partners (SGRY) Investors?
Surgery Partners, Inc. (SGRY) recently reaffirmed its 2026 revenue guidance in the US$3.35 billion to US$3.45 billion range, indicating management's confidence despite mixed short-term share performance. While this supports near-term guidance achievement, it doesn't significantly reduce risks associated with higher interest costs and slower acquisition deployment. Investors should also consider the tension between growth investments, balance sheet priorities, and the company's new US$200 million share repurchase authorization.
Should Surgery Partners’ Reaffirmed 2026 Revenue Outlook Require Action From Surgery Partners (SGRY) Investors?
Surgery Partners, Inc. reaffirmed its 2026 revenue guidance of US$3.35 billion to US$3.45 billion, signaling management's confidence despite mixed short-term share performance. This outlook supports the near-term catalyst of hitting guidance but does not fully address risks like higher interest costs or slow acquisition deployment. Investors should also consider the new US$200 million share repurchase authorization, the contrast between it and minimal actual buybacks, and the potential impact of rising interest expenses on cash flows.
SGRY|Surgery Partners Inc|Price:15.730|Chg%:+0.510
This article provides a detailed company profile for Surgery Partners Inc (SGRY), a healthcare services company operating a national network of surgical facilities. It covers the company's business scope, financial data, and market performance, including key executives and institutional shareholdings. The main revenue source is highlighted as patient service revenues, contributing significantly to its total revenue.
Surgery Partners Inc (SGRY) Institutional Confidence
The article provides an overview of Surgery Partners Inc (SGRY) institutional confidence score, which stands at 10.00, ranking it 1st in the Healthcare Providers & Services industry. Institutional shareholding has increased by 5.74% quarter-over-quarter, with Bill Nygren | OAKMX being the largest institutional shareholder a 3375% increase in holdings. The article also lists major institutional shareholders and their changes in holdings.
Surgery Partners Inc (SGRY) Earnings Forecast: Future EPS & Revenue Growth Estimates
This article provides an earnings forecast for Surgery Partners Inc (SGRY), highlighting its current earnings forecast score of 8.00 and an average price target of 28.00. Based on 12 analysts, the stock has a "Buy" rating with an upside potential of 25.49%. The article also details expected revenue for the next quarter and past/future EPS performance.
Press Release: Surgery Partners Announces Entry Into Agreement to Sell Ownership Interests in Idaho Falls Facilities to Intermountain Health; Reaffirms Guidance, Excluding Impact of Transaction
Surgery Partners has announced an agreement to sell its ownership interests in two Idaho Falls medical facilities, Idaho Falls Community Hospital and Mountain View Hospital, to Intermountain Health. The transaction, valued at $450 million, is expected to close in Q4 2024 and will allow Surgery Partners to reduce net leverage and focus on its core surgical facility business. The company reaffirmed its full-year 2024 Adjusted EBITDA guidance, excluding the impact of this divestiture.
Surgery Partners, Inc. Revenue Breakdown – MUN:1SP
This article provides a revenue breakdown for Surgery Partners, Inc. (MUN:1SP), highlighting its financial performance for the last fiscal year. The company generated 2.82 billion EUR, with its Surgical Facilities segment contributing the entirety of this revenue. All revenue was sourced from the United States.
Surgery Partners Announces Agreement to Sell Idaho Falls Hospital Interests to Intermountain Health for $795 Million
Surgery Partners announced its plan to sell its interests in Mountain View Hospital and Idaho Falls Community Hospital to Intermountain Health for approximately $795 million. This transaction, which values the combined facilities at about $1.15 billion, is part of Surgery Partners' strategy to optimize its portfolio and focus on the growing ambulatory surgery center market. The deal awaits regulatory and physician approvals and is expected to close in the coming months, with Surgery Partners reaffirming its 2026 revenue guidance excluding the transaction's impact.
Intermountain Health Care, Inc. entered into a definitive agreement to acquire remaining majority stake in Idaho Falls Community Hospital, LLC from Surgery Partners, Inc..
Intermountain Health Care, Inc. has entered into a definitive agreement to acquire the remaining majority stake in Idaho Falls Community Hospital, LLC from Surgery Partners, Inc. This transaction, alongside a related agreement to acquire Mountain View Hospital LLC, will cost Intermountain Health Care approximately $795 million. The deal, which values the combined Idaho Falls facilities at around $1.15 billion, is subject to customary closing conditions and regulatory approvals, with an expected closing in the coming months.
Intermountain to buy Surgery Partners’ stakes in 2 Idaho hospitals
Intermountain is set to acquire Surgery Partners' interests in two Idaho hospitals in a deal estimated to be worth $1.15 billion. The acquisition involves facilities in Idaho and highlights ongoing merger and acquisition activities within the healthcare sector. Hayley DeSilva reported on the transaction.
Surgery Partners (SGRY) plans $1.15B Idaho Falls hospital sale to Intermountain
Surgery Partners (SGRY) is pursuing the sale of its ownership interests in Mountain View Hospital, LLC and Idaho Falls Community Hospital, LLC to Intermountain Health for a total consideration of approximately $795 million, valuing the combined facilities at $1.15 billion. This move is part of the company's portfolio optimization strategy to focus on ambulatory surgery centers. The transaction is subject to various approvals and closing conditions, with Surgery Partners reaffirming its 2026 revenue and Adjusted EBITDA outlook, excluding the deal's impact.
