Montag, 01.08.2022 16:05 von PR Newswire | Aufrufe: 140

DaVita Inc. 2nd Quarter 2022 Results

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PR Newswire

DENVER, Aug. 1, 2022 /PRNewswire/ -- DaVita Inc. (NYSE: DVA) announced financial and operating results for the quarter ended June 30, 2022.

"We are living in a dynamic time with a sustained global pandemic, labor shortage, supply chain disruption, and more. Despite all this, my confidence in our business and our dedicated caregivers and team has never wavered," said Javier Rodriguez. "Their hard work and commitment has enabled us to continue delivering high quality and equitable care to all of our constituents."

Financial and operating highlights for the quarter ended June 30, 2022:

  • 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.
  • Repurchased 3.9 million shares of our common stock at an average cost of $95.56 per share.

Three months ended


Six months ended June 30,


June 30, 2022


March 31, 2022

Kurse

  
82,78 $
0,00%
DaVita Chart

2022


2021

Net income attributable to DaVita Inc.:

(dollars in millions, except per share data)

Net income

$                225


$                162


$          387


$          531

Diluted per share

$               2.30


$               1.61


$         3.90


$         4.72

 


Three months ended

Six months ended June 30,


June 30, 2022


March 31, 2022


2022


2021


Amount


Margin


Amount


Margin


Amount


Margin


Amount


Margin


(dollars in millions)

Operating income

$      433


14.8 %


$      338


12.0 %


$ 771


13.4 %


$   933


16.3 %

 

U.S. dialysis metrics:

Volume: Total U.S. dialysis treatments for the second quarter of 2022 were 7,269,160, or an average of 93,194 treatments per day, representing a per day increase of 0.9% compared to the first quarter of 2022. Normalized non-acquired treatment growth in the second quarter of 2022 compared to the second quarter of 2021 was (1.9)%.


Three months ended


Quarter

change


Six months ended


Year to date

change


June 30, 2022


March 31, 2022



June 30, 2022


June 30, 2021



(dollars in millions, except per treatment data)

Revenue per treatment

$          365.54


$          361.35


$             4.19


$        363.47


$        357.35


$             6.12

Patient care costs per treatment

$          247.14


$          252.61


$           (5.47)


$        249.85


$        237.79


$          12.06

General and administrative

$               241


$                217


$                24


$              458


$              456


$                  2

 

Primary drivers of the changes in the table above were as follows:

Revenue: The quarter change was primarily due to normal seasonal improvements driven by patients meeting their co-insurance and deductibles, as well as the continued shift to Medicare Advantage plans. The quarter change was negatively impacted by a seasonal decrease in hospital inpatient dialysis treatments and decreased government rate related to the reinstatement of 1% Medicare sequestration beginning April 1, 2022. The year to date change was primarily due to an increase in commercial mix and rate, an increase in the Medicare base rate in 2022 and the continued shift to Medicare Advantage plans, partially offset by the reinstatement of 1% Medicare sequestration described above.

Patient care costs: The quarter change was primarily due to decreased other direct operating expenses associated with our dialysis centers, including decreased utilities expense due to seasonality and our virtual power purchase arrangements. In addition, our fixed other direct operating expenses positively impacted patient care costs per treatment due to increased treatments in the second quarter of 2022. Other drivers of this change include declines in compensation expenses primarily related to seasonal decreases in payroll taxes, as well as decreases in health benefit expenses, professional fees, pharmaceutical unit costs and medical supplies expense. These decreases were partially offset by increased insurance expense. The year to date change was primarily due to increased compensation expenses driven by increased wage rates and increases in other direct operating expenses associated with our dialysis centers, which include increases in utilities expense resulting from lower expense in the first half of 2021 related to our virtual power purchase arrangements. In addition, our fixed other direct operating expenses negatively impacted patient care costs per treatment due to decreased treatments in the first half of 2022. Other drivers of this change include increases in insurance expense and costs related to travel and management meetings, partially offset by decreased pharmaceutical unit costs and professional fees.

General and administrative: The quarter change was primarily due to increased advocacy costs to counter union policy efforts, including a California ballot initiative, increased compensation expense including increased wage rates, as well as increased travel costs. These increases were offset by gains recognized on the sale of our self-developed properties. The year to date change was primarily due to increases in advocacy costs, as described above, travel costs and compensation expenses partially offset the gains on sale, as described above, and decreases in professional fees and contributions to our charitable foundation.

Share repurchases: During the three months ended June 30, 2022, we repurchased 3.9 million shares of our common stock for $370 million, at an average cost of $95.56 per share.

Subsequent to June 30, 2022 through July 29, 2022, we repurchased 0.9 million shares of our common stock for $75 million, at an average cost of $82.94 per share.

Financial and operating metrics:


Three months ended

June 30,


Twelve months ended

June 30,


2022


2021


2022


2021

Cash flow:

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