NYSE$DVA

DaVita HealthCare Partners Inc · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

DaVita's financial and operating results for Q2 2022 were announced.

DaVita Inc. reported consolidated revenues of $2.927 billion, operating income of $433 million, and diluted earnings per share of $2.30 for the quarter ended June 30, 2022. They repurchased 3.9 million shares of their common stock at an average cost of $95.56 per share. Operating cash flow and free cash flow were $188 million and $95 million, respectively.

  • Consolidated revenues were $2.927 billion.
  • Operating income was $433 million.
  • Diluted earnings per share was $2.30.
  • Operating cash flow and free cash flow were $188 million and $95 million, respectively.

Headline financials

Total Revenue

$2.93B

Previous: $2.92B+0.4%
EPS (adj)

$2.30

Previous: $2.64-12.9%
U.S. Dialysis Treatments

7.3M

Previous: 7.4M-1.9%
U.S. Dialysis Avg Treatments per Day

93.2K

Previous: 95.0K-1.9%
U.S. Dialysis Avg Revenue per Treatment

$365.54

Previous: $360.14+1.5%
Capital Expenditures

-$265M

Previous: -$294M+9.8%
Free Cash Flow

-$40.7M

Previous: -$618K-6478.0%
Net Income

$225M

Previous: $294M-23.5%
Operating Income

$433M

Previous: $490M-11.8%
Gross Profit

$2.93B

Previous: $2.92B+0.4%
Cash & Equivalents

$263M

Previous: $1.04B-74.8%
Total Assets

$17.1B

Previous: $17.8B-4.0%
Stock-Based Comp

$25.2M

Previous: $28.1M-10.4%

Revenue & EPS history

DaVita · Revenue · Quarterly

$2.93B

Q2 2022+0.4%vs Q2 2021
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Revenue by segment

DaVita · $2.94B total across 3 segments · Q2 2022

  • U.S. Dialysis Patient Services
    $2.66B-0.5%
  • International Dialysis Patient Service
    $175M+0.6%
  • Integrated Kidney Care
    $103M

Forward guidance

DaVita provided its 2022 guidance, expecting adjusted operating income between $1.525 billion and $1.675 billion, adjusted diluted net income per share attributable to DaVita Inc. between $7.50 and $8.50, and free cash flow between $850 million and $1.1 billion.

Tailwinds

  • Absence of ballot initiative expenses: $60 million
  • Integrated Kidney Care: $0 - $25 million
  • Treatment volume growth: ($25) - $125 million
  • Revenue per treatment growth: $200 - $250 million
  • Cost savings initiatives: $125 - $175 million

Headwinds

  • Labor pressure and inflation: ($275) - ($225) million
  • The widespread impact of the COVID-19 pandemic continues to generate significant risk and uncertainty.
  • Future results could vary materially from the guidance provided.
  • Guidance for operating income or diluted net income per share attributable to DaVita Inc. on a basis consistent with United States generally accepted accounting principles (GAAP) is not provided.
  • Non-GAAP financial measures do not include certain items, including foreign currency fluctuations, which may be significant.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2022

Historical avgQ2 2022

+0.2%

Avg return

Earnings day

+0.5%

Avg return

5 days after

+1.6%

Avg return

30 days after

54%

39 / 72 earnings

Positive

+14.7%

Q3 2019

Best reaction

-24.5%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.6%+22.2%+22.4%
Q4 2025+11.0%+26.7%+34.9%
Q3 2025-6.0%-5.2%-5.4%
Q1 2025-0.2%+0.7%-4.9%
Q4 2024-11.1%-12.5%-19.0%
Q3 2024-10.1%-9.8%+5.5%
Q2 2024-1.1%+3.6%+9.8%
Q1 2024-3.8%-1.5%+5.3%
Q4 2023+8.0%+6.9%+19.0%
Q3 2023+7.4%+5.1%+33.9%
Q2 2023+6.7%+8.6%+1.0%
Q1 2023+13.8%+5.9%+13.7%
Q4 2022-0.3%-0.3%-8.4%
Q3 2022-24.5%-27.9%-23.6%
Q2 2022+2.7%+1.8%+1.3%
Q1 2022-7.1%-5.0%-12.7%
Q4 2021-1.2%+3.5%-2.6%
Q3 2021-6.9%-6.2%-12.3%
Q2 2021+10.2%+9.7%+10.0%
Q1 2021+2.8%+8.9%+6.0%
Q4 2020-7.4%-8.1%-4.4%
Q3 2020-0.0%+7.7%+27.4%
Q2 2020-4.3%-8.5%-4.8%
Q1 2020+9.6%+7.5%+9.7%
Q4 2019+8.8%+5.7%-8.0%
Q3 2019+14.7%+13.6%+17.9%
Q2 2019+0.4%-1.5%-5.8%
Q1 2019-10.4%-9.8%-19.4%
Q4 2018+1.3%+3.0%-6.7%
Q3 2018+1.3%-1.5%-14.9%
Q2 2018+5.4%+3.9%-1.4%
Q1 2018+4.7%+1.2%+5.9%
Q4 2017+1.8%+0.3%-5.4%
Q3 2017-8.5%-7.4%+13.0%
Q2 2017-9.8%-10.9%-9.6%
Q1 2017-3.8%-5.3%-2.4%
Q4 2016+3.2%+6.2%+4.5%
Q3 2016+1.1%+0.1%+11.1%
Q2 2016-6.0%-10.1%-16.4%
Q1 2016+2.9%
Q4 2015-1.7%
Q3 2015-0.9%
Q2 2015+1.0%
Q1 2015-1.1%
Q4 2014-3.8%
Q3 2014-3.9%
Q2 2014+0.1%
Q1 2014-2.8%
Q4 2013+3.9%
Q3 2013-3.0%
Q2 2013-2.9%
Q1 2013+9.4%
Q4 2012-1.1%
Q3 2012+1.4%
Q2 2012-1.1%
Q1 2012-4.9%
Q4 2011+0.3%
Q3 2011+0.8%
Q2 2011-0.2%
Q1 2011+2.9%
Q4 2010+2.4%
Q3 2010-0.4%
Q2 2010+3.3%
Q1 2009+1.1%
Q1 2010+0.3%
Q4 2009-0.1%
Q3 2009+0.1%
Q3 2008+0.1%
Q2 2008+4.6%
Q4 2008+4.6%
Q2 2009+4.6%
Q4 2007+4.6%

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