DaVita Inc. (DVA) delivered adjusted earnings per share (EPS) of $2.59 in the second quarter of 2024, up 24.5% year over year. The figure topped the Zacks Consensus Estimate by 4.9%. GAAP EPS for the quarter was $2.50, reflecting a surge of 30.9% year over year. Revenues in Detail Revenues of $3.19 billion in the second quarter increased 6.2% year over year. The figure surpassed the Zacks Consensus Estimate by 0.7%. Per management, the revenue uptick primarily resulted from a seasonal improvement from patie ...

DaVita Inc. (NYSE:DVA) Q2 2024 Earnings Conference Call August 6, 2024 5:00 PM ET Company Participants Nic Eliason - Group Vice President, Investor Relations Javier Rodriguez - Chief Executive Officer Joel Ackerman - Chief Financial Officer Conference Call Participants Pito Chickering - Deutsche Bank Justin Lake - Wolfe Research AJ Rice - UBS Andrew Mok - Barclays Ryan Langston - TD Cowen Operator Good evening. My name is Michelle, and I will be your conference facilitator today. At this time, I would like ...

DaVita HealthCare (DVA) came out with quarterly earnings of $2.59 per share, beating the Zacks Consensus Estimate of $2.47 per share. This compares to earnings of $2.08 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 4.86%. A quarter ago, it was expected that this kidney dialysis provider would post earnings of $1.96 per share when it actually produced earnings of $2.38, delivering a surprise of 21.43%. Over the last four qua ...

Financial Performance - Total consolidated revenues for Q2 2024 reached $3,187 million, an increase of $116 million or 3.8% compared to Q1 2024[113]. - U.S. dialysis revenues for Q2 2024 were $2,841 million, up $85 million or 3.1% from $2,756 million in Q1 2024[113]. - For the six months ended June 30, 2024, total consolidated revenues were $6,257 million, an increase of $384 million or 6.5% compared to the same period in 2023[115]. - Total revenues for the six months ended June 30, 2024, were $5,597 million, an increase of 4.8% compared to $5,343 million for the same period in 2023[121]. - Operating income for the six months ended June 30, 2024, was $1,076 million, representing a 30.9% increase from $822 million in the same period of 2023[136]. - U.S. dialysis operating income for Q2 2024 was $550 million, an increase of $24 million or 4.6% from Q1 2024[113]. Treatment and Patient Care - In Q2 2024, treatment per day volumes increased compared to Q1 2024, driven by census gains, but revenue and treatment volume were negatively impacted by elevated mortality rates among patients[107]. - The average treatments per day for Q2 2024 were 93,147, an increase of 988 treatments or 1.1% from Q1 2024[116]. - U.S. dialysis treatment volume for Q2 2024 was 7,265,444, reflecting an increase of 113,932 treatments or 1.6% from Q1 2024[116]. - The ongoing impact of COVID-19 has contributed to higher mortality rates among patients, adversely affecting patient census and treatment volumes[107]. - Future revenues and treatment volumes may be negatively impacted by sustained elevated mortality levels in the ESKD and CKD populations[107]. Operational Challenges - The company is facing challenges related to supply chain disruptions and elevated labor costs, which may impact operational efficiency[106]. - The company is currently focused on mitigating the impact of the CHC outage through alternative claim processing methods and has secured interest-free funding from United and its affiliates[102]. - The CHC cybersecurity breach led to a significant reduction in cash flow, with claims processing suspended since February 2024, resulting in increased days sales outstanding (DSOs)[102][103]. - The company is actively monitoring its information technology infrastructure following the CHC outage to prevent potential data breaches[105]. - General economic conditions, including inflation and labor market pressures, are expected to have a material adverse impact on the company's operations and financial condition[106]. Revenue and Cost Management - Average patient service revenue per treatment increased to $390.22 in Q2 2024, a rise of 1.5% from $384.54 in Q1 2024[120]. - The company expects continued elevated staffing and labor costs due to a challenging healthcare labor market, which could materially impact operations[109]. - The company is implementing cost savings initiatives to mitigate inflationary pressures, including optimizing clinic operations and improving procurement[109]. - U.S. dialysis patient care costs per treatment for the six months ended June 30, 2024, increased to $255.19, a slight increase of 0.1% from $254.94 in the prior year[125]. Cash Flow and Debt Management - Net cash provided by operating activities for the six months ended June 30, 2024, was $664 million, a decrease of 27.3% compared to $913 million for the same period in 2023[161]. - Free cash flow for the six months ended June 30, 2024, decreased to $327 million, down 37.7% from $525 million in the same period in 2023[163]. - Significant sources of cash included a $1,640 million extension of the maturity date for a portion of Term Loan B-1 and $393 million in temporary funding assistance from Change Healthcare[164]. - As of June 30, 2024, DaVita had $1,240 million available and $260 million drawn on its $1.5 billion revolving line of credit[167]. - The company believes its cash flow from operations and other liquidity sources will be sufficient to fund scheduled debt service and other obligations for the next 12 months[168]. Shareholder Returns and Investments - DaVita repurchased 4,774,415 shares of common stock for $616 million during the six months ended June 30, 2024, with an average price of $127.98 per share[167]. - DaVita Inc. has entered into purchase agreements to acquire dialysis service operations in Chile, Ecuador, Colombia, and Brazil, with expected cash payments of approximately $180 million for the remaining transactions[182]. Tax and Income - The effective income tax rate for Q2 2024 was 19.3%, up from 17.7% in Q1 2024[151]. - The effective income tax rate attributable to DaVita Inc. for the six months ended June 30, 2024, decreased compared to the same period in 2023, primarily due to increased benefits recognized for forecasted tax credits and a nontaxable noncash gain on change in ownership[156]. - Net income attributable to noncontrolling interests for Q2 2024 was $77 million, an increase of 16.7% from $66 million in Q1 2024[151]. - Income before income taxes attributable to DaVita Inc. was $294 million for the three months ended June 30, 2024[177]. Debt Structure - As of June 30, 2024, total fixed and economically fixed debt amounted to $8,454 million, with an average interest rate of 4.13%[186]. - Total variable rate debt not subject to caps was $594 million, with an average interest rate of 7.51%[186]. - The average fixed interest rate for the company's long-term debt is 4.07%[184]. - The average variable interest rate for the company's long-term debt is 4.64%[184]. - The company has principal amounts of $950 million for Term Loan B-1, $1,640 million for Extended Term Loan B-1, and $910 million for Term Loan A-1, which are effectively hedged by interest rate cap agreements[186].

Contact: Investor Relations DaVita Inc. ir@davita.com DaVita Inc. 2nd Quarter 2024 Results Denver, Colorado, August 6, 2024 — DaVita Inc. (NYSE: DVA) announced financial and operating results for the quarter ended June 30, 2024. "On behalf of all the teammates who provide life-saving care to our patients, I am grateful for the opportunity to report another positive quarter for DaVita," said Javier Rodriguez, CEO of DaVita Inc. "We continue to enhance our clinical capabilities while optimizing our revenue op ...

DENVER, Aug. 6, 2024 /PRNewswire/ -- DaVita Inc. (NYSE: DVA) announced financial and operating results for the quarter ended June 30, 2024. "On behalf of all the teammates who provide life-saving care to our patients, I am grateful for the opportunity to report another positive quarter for DaVita," said Javier Rodriguez, CEO of DaVita Inc. "We continue to enhance our clinical capabilities while optimizing our revenue operations and cost structure." Financial and operating highlights for the quarter ended Ju ...

The investment community will be closely monitoring the performance of DaVita HealthCare in its forthcoming earnings report. The company is scheduled to release its earnings on August 6, 2024. In that report, analysts expect DaVita HealthCare to post earnings of $2.47 per share. This would mark year-over-year growth of 18.75%. Meanwhile, our latest consensus estimate is calling for revenue of $3.16 billion, up 5.43% from the prior-year quarter. In the context of valuation, DaVita HealthCare is at present tr ...

DaVita Inc. (DVA) - The company's market capitalization is $12.05 billion, with a stock price of $137 as of July 26, 2024, reflecting a year-to-date increase of over 28% [1][2] - In Q1 2024, DaVita reported revenue of $3.071 billion, exceeding estimates of $3.028 billion, and net income of $240 million, surpassing the expected $179 million, with an EPS of $2.65 compared to the anticipated $1.95 [2] - DaVita specializes in kidney care services, particularly dialysis, and is well-positioned to benefit from the increasing global prevalence of chronic kidney disease [9][10] Floor & Decor Holdings (FND) - Floor & Decor focuses on hard surface flooring and related accessories, appealing to both professional contractors and DIY enthusiasts, which has driven significant consumer interest and sales growth [3][5] - The company has a market capitalization of approximately $10.27 billion, with a stock price of $96, and is attempting to recover from a year-to-date loss of about 13% [11] - Floor & Decor's aggressive expansion strategy, including new store openings across the U.S., enhances its market reach and growth potential [16] Investment Insights - Warren Buffett's investment philosophy emphasizes long-term value and growth potential, with his stakes in DaVita and Floor & Decor indicating confidence in their business models and prospects [6][12] - Berkshire Hathaway holds 36.1 million shares of DaVita, representing 40.33% of the company's outstanding stock, highlighting Buffett's significant investment in the company [13] - The potential for significant growth in both DaVita and Floor & Decor suggests that a modest investment could yield substantial returns by 2025 [12][17]

In the latest market close, DaVita HealthCare (DVA) reached $139.96, with a +1.46% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 1.08% for the day. At the same time, the Dow added 0.32%, and the tech-heavy Nasdaq gained 1.58%. Investors should also take note of any recent adjustments to analyst estimates for DaVita HealthCare. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimat ...

When calling in, please provide the operator the password "Earnings" and provide your name and company affiliation. Investors unable to listen to the conference call will be able to access a replay via our website at investors.davita.com. There will be no telephone replay. This call is also being webcast and can be accessed at the DaVita IR web page. You can join this call as follows: DaVita (NYSE: DVA) is a health care provider focused on transforming care delivery to improve quality of life for patients g ...