DVA
DaVita Inc.117.94
-2.11-1.76%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A clarifies volume lag, ACA details
Q&A detailed a multi-year lag for clinical initiatives to lift treatments back toward 2% growth, with initial benefits in two years and full impact by 2029. Management broke out ACA headwinds at $40 million in 2026, ramping to $70 million in 2027 amid resilient enrollment and patient sophistication. IKC's profitability beat traced to stronger shared savings, with $20 million growth deemed sustainable as the unit matures. Elara's $200 million stake blends financial returns and operational ties to cut hospitalizations. No Q4 shifts in mortality or missed treatments. Answers largely reaffirmed guidance. Watch execution timelines.
Key Stats
Market Cap
8.43BP/E (TTM)
12.17Basic EPS (TTM)
9.69Dividend Yield
0%Recent Filings
10-K
FY2025 results
DaVita posted FY2025 revenues of $13.6B, up 6.5% y/y, driven by 3.5% U.S. dialysis growth from $18 higher revenue per treatment amid phosphate binder bundling, while ancillary services surged 27% on international expansion to 585 centers serving 94,500 patients. U.S. dialysis treatments fell 1.1% y/y to 28.7M on elevated mortality and flu impacts, yet operating income held at $2.1B adjusted; Q4 momentum showed sequential volume stabilization but cyber incident costs weighed. Free cash flow of $1.0B funded $1.8B buybacks, cutting shares 14.9%, with leverage steady at 3.0-3.5x. Repaid old term loans, issued $1B 6.75% notes due 2033. Complex regulations risk quarterly reimbursement volatility.
8-K
Q4 revenues $3.620B, hit targets
DaVita posted Q4 revenues of $3.620B and operating income of $561M, hitting full-year targets amid headwinds. Adjusted EPS hit $3.40, yet full-year net income fell to $747M from $936M as treatments dipped 0.1% daily. Repurchased 2.7M shares at $122.78 average. Guides 2026 adjusted operating income $2.085B-$2.235B. Share buybacks signal confidence.
8-K
DaVita refinances $3.45B credit facilities
DaVita refinanced its $1.950B term loan A and $1.5B revolver maturing April 2028 with new $2B five-year term loan A-2 and $1.5B five-year revolver on November 24, 2025. New facilities carry SOFR/EURIBOR/SONIA plus 1.50% margin (grid pricing post-Q1 2026), quarterly amortization starting 2.5% after two years, and extend maturities to 2030. JPMorgan replaces Wells Fargo as agent.
8-K
Q3 results on track
DaVita posted Q3 revenues of $3.420 billion and operating income of $506 million, aligning with full-year guidance despite a 0.5% dip in U.S. dialysis treatments. Strong cash flow hit $842 million operating, $604 million free, fueling $465 million share repurchases at $140.67 average. Debt refinanced with $1.9 billion Term Loan B-2. Repurchases signal confidence.
10-Q
Q3 FY2025 results
DaVita posted Q3 revenues of $3.4B, up 4.8% y/y but flat q/q (derived), with U.S. dialysis up 2.3% q/q on higher treatments and revenue per treatment; operating income slipped 5.4% y/y to $506M yet held steady q/q while margins held at 14.8%. YTD revenues climbed 5.3% to $10.0B, but operating income edged down 2.8% to $1.5B on cybersecurity costs and higher debt expense up 12% y/y to $432M; diluted EPS fell to $6.62 from $7.66, reconciling to 77.4M shares. Cash swelled to $706M with $1.3B operating cash flow, funding $430M capex for $716M FCF (derived); long-term debt rose to $10.2B including new 6.75% notes due 2033, with $1.5B revolver available. Brazil dialysis ops closed Aug 2025 for $94M cash, adding $69M goodwill. Share buybacks aggressive. Antitrust suits drag on.
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