DaVita(US:DVA) Prnewswireยท2024-08-06 20:05Financial Performance - DaVita Inc. reported consolidated revenues of $3.187 billion for the quarter ended June 30, 2024, an increase from $3.000 billion in the same quarter of 2023 [22] - Operating income for the quarter was $506 million, with an operating margin of 15.9% [3][22] - Net income attributable to DaVita Inc. was $223 million, translating to diluted earnings per share of $2.50 [2][22] - Adjusted diluted earnings per share increased to $2.59 from $2.26 in the previous quarter [2] Cash Flow and Share Repurchase - Operating cash flow for the quarter was $799 million, while free cash flow was $654 million [13][22] - The company repurchased 2.7 million shares at an average price of $140.14 per share during the quarter [13] Dialysis Metrics - Total U.S. dialysis treatments for Q2 2024 were 7,265,444, averaging 93,147 treatments per day, a 1.1% increase from Q1 2024 [4] - Revenue per treatment increased to $390.22 from $384.54 in the previous quarter [5] Patient Care Costs - Patient care costs per treatment were $255.25, showing a slight increase from $255.13 in the previous quarter [5] - The increase in patient care costs was attributed to higher operating expenses, including health benefits and medical supplies [6] Center Activity - As of June 30, 2024, DaVita provided dialysis services to approximately 265,100 patients across 3,124 outpatient dialysis centers [15] - The company acquired and opened 10 new dialysis centers while closing three in the U.S. during the second quarter [15] Debt and Financing - DaVita extended the maturity date for a portion of Term Loan B-1, totaling $1.64 billion [11] - The company incurred charges of approximately $15.3 million related to U.S. dialysis center closures during the quarter [9] Integrated Kidney Care - DaVita had approximately 71,300 patients in risk-based integrated care arrangements, representing about $5.4 billion in annualized medical spend [16]