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Jun 30
DaVita Q2 2025 Earnings Report
DaVita delivered solid performance in Q2 2025 with strong earnings and revenue growth, offset slightly by one-time cybersecurity-related costs.
Key Takeaways
DaVita exceeded earnings expectations in Q2 2025, driven by strong operating performance in U.S. dialysis and growth in international operations, while managing the financial impact of a cybersecurity event.
Revenue reached $3.38 billion in Q2 2025, up from $3.11 billion in Q2 2024.
GAAP EPS was $2.58; Adjusted EPS excluding one-time items was $2.95.
Net income totaled $200 million, despite $54 million in cybersecurity-related costs.
Free cash flow was $164 million in the quarter.
DaVita
DaVita
DaVita Revenue by Segment
DaVita Revenue by Geographic Location
Revenue by Segment
U.S. Dialysis Revenue
CapyFin.comInternational Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
DaVita reaffirmed its full-year 2025 adjusted operating income guidance and raised adjusted EPS guidance slightly, while managing elevated labor and cybersecurity-related costs.
Positive Outlook
- Raised full-year 2025 adjusted EPS guidance to $9.10–$9.70.
- Reaffirmed adjusted operating income guidance of $1.43B–$1.53B.
- International operations continue to expand revenue and margin.
- Strong underlying operational performance in U.S. dialysis.
- Maintained solid free cash flow generation.
Challenges Ahead
- Cybersecurity incident resulted in $54M of incremental costs in Q2.
- Labor costs and contract labor levels remain elevated.
- Some missed treatment days due to operational disruptions.
- Adjusted SG&A and other operating expenses increased YoY.
- International segment continues to face FX and geopolitical headwinds.