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Mar 31, 2024
DaVita Q1 2024 Earnings Report
DaVita's financial and operating results for Q1 2024 were announced, demonstrating operational discipline and investments in innovation.
Key Takeaways
DaVita Inc. reported consolidated revenues of $3.071 billion for the first quarter of 2024. The company's operating income was $484 million, with a diluted earnings per share of $2.65. They also repurchased 2.1 million shares of common stock.
Consolidated revenues reached $3.071 billion.
Operating income totaled $484 million, while adjusted operating income was $463 million.
Diluted earnings per share stood at $2.65, and adjusted diluted earnings per share was $2.38.
The company repurchased 2.1 million shares at an average price of $112.76 per share.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
DaVita provided its 2024 financial outlook, including adjusted operating income between $1.875 billion and $1.975 billion, adjusted diluted net income per share between $9.00 and $9.80, and free cash flow between $900 million and $1.150 billion.
Positive Outlook
- Adjusted operating income is projected between $1,875 million and $1,975 million.
- Adjusted diluted net income per share is expected to be in the range of $9.00 to $9.80.
- Free cash flow is anticipated to be between $900 million and $1,150 million.
- Company has current cash collections used to pay down the revolving line of credit.
- Company received interest-free funding from UnitedHealth Group under the Temporary Funding Assistance Program.
Challenges Ahead
- Macroeconomic and marketplace conditions continue to generate significant risk and uncertainty.
- Future results could vary materially from the guidance provided.
- Change Healthcare outage increased days sales outstanding which negatively impacted operating cash flows for the quarter
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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