DaVita Q1 2024 Financial Report: Insights & Outlook
Uncover key insights and future prospects from DaVita's Q1 2024 earnings
Earnings Q1 2024
(in $ millions, except per share data)
Total revenues 3.070 (2.872)
Total operating expenses 2.586 (2.561)
Operating income 483,8 (311,6)
Operating margin 15.8% (10.8%)
Net income 305,9 (170,6)
EPS Diluted 2.65 (1.25)
Weighted average shares for earnings per share diluted 90,5 (92,4)
Effective income tax rate on income 17.7% (20.5%)
Cash and cash equivalents 345,1 (380,0)
Accounts receivable 2.594 (1.986)
Total assets 17.430 (16.893)
Current portion of long-term debt 127,6 (123,9)
Long-term debt 9.000 (8.268)
Total DaVita shareholders’ equity 206,5 (187,9)
Stock-based compensation expense 24,5 (25,3)
Net cash (used in) provided by operating activities -134,8 (462,5)
Additions of property and equipment 121,0 (147,7)
Acquisitions 105,1 (-)
Borrowings 1.290 (611,8)
Payments on long-term debt 554,5 (880,5)
Purchase of treasury stock 250,9 (-)
Summary of financial results
Revenues
US dialysis patient services and other 2.756 (2.612)
Other-Ancillary services
Integrated kidney care 116 (98)
Other US ancillary 6 (7)
International dialysis patient service and other 342 (284)
Total 342 (284)
Eliminations -27 (-23)
Operating income
US dialysis 526 (361)
Other-Ancillary services
Integrated kidney care -26 (-37)
Other US ancillary -2 (-3)
International 16 (15)
Total -12 (-25)
Corporate administrative support expenses -30 (-25)
Metrics
Volume
Treatments 7.151.512 (7.117.427)
Number of treatment days 77.6 (77.0)
Average treatment per day 92.159 (92.434)
Operating net revenues
Average patient service revenue per treatment 384.54 (366.14)
Expenses
Patient care cost per treatment 255.13 (257.34)
General and administrative expense per treatment 38.39 (36.30)
Depreciation and amortization expense per treatment 24.17 (23.46)
Accounts receivable
Receivables 2.180 (1.769)
DSO 72 (62)
Outlook
Adjusted operating income 1.875-1.975
Adjusted diluted net income per share attributable to DaVita 9.00-9.80
Free cash flow 900-1.150