The earnings call reflects a company that is successfully managing financial performance and operational challenges despite external setbacks. Highlights included strong cost management and reaffirmation of financial guidance. However, challenges such as the impact of a cyber incident, declining treatment volumes, and elevated mortality rates were notable concerns.

Company Guidance

During the DaVita Second Quarter 2025 Earnings Call, the company reaffirmed its guidance for adjusted operating income (OI) of $2.01 billion to $2.16 billion and adjusted earnings per share (EPS) of $10.20 to $11.30, despite the impact of a cyber incident. The call detailed that adjusted operating income for the quarter was $551 million, with adjusted EPS at $2.95, and free cash flow at $157 million. DaVita reported a decline in U.S. treatments per day by 1.1% compared to the second quarter of 2024, attributing this to a higher-than-expected missed treatment rate, primarily driven by the cyber incident. However, the company highlighted strong patient care cost management, which offset the impact of lower treatment volumes and revenue per treatment, with patient care costs per treatment declining by approximately $3.50 sequentially. Despite challenges, DaVita remains optimistic about achieving its long-term growth targets and emphasized ongoing investments in systems and IT to drive future efficiencies.

Positive Financial Performance

Adjusted operating income and adjusted earnings per share came in slightly ahead of expectations, with adjusted operating income at $551 million and adjusted earnings per share at $2.95.

Cost Management Success

Patient care costs per treatment declined by approximately $3.50 sequentially, primarily due to improved labor productivity and higher treatment count compared to Q1.

Strong Cash Flow and Share Repurchase

Free cash flow was $157 million, and the company repurchased 3.1 million shares in Q2, with an additional 2.7 million shares repurchased since the end of the quarter.

Resilience Amid Cyber Incident

Despite the cyber incident, the company maintained uninterrupted patient care and expects limited ongoing effects on adjusted results.

Reaffirmed Guidance

The company reaffirmed its guidance for adjusted operating income of $2.01 billion to $2.16 billion and adjusted earnings per share range of $10.20 to $11.30.

DaVita (DVA) Earnings, Revenues Date & History

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DVA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2025 (Q3)	3.23 / -	2.59	―	―	―
Aug 05, 2025	2025 (Q2)	2.77 / 2.95	2.59	13.90% (+0.36)	―
May 12, 2025	2025 (Q1)	1.95 / 2.00	2.38	-15.97% (-0.38)	―
Feb 13, 2025	2024 (Q4)	2.13 / 2.24	1.87	19.79% (+0.37)	―
Oct 29, 2024	2024 (Q3)	2.72 / 2.59	2.85	-9.12% (-0.26)	―
Aug 06, 2024	2024 (Q2)	2.59 / 2.59	2.08	24.52% (+0.51)	―
May 02, 2024	2024 (Q1)	1.95 / 2.38	1.58	50.63% (+0.80)	―
Feb 13, 2024	2023 (Q4)	1.63 / 1.87	1.11	68.47% (+0.76)	―
Nov 07, 2023	2023 (Q3)	2.01 / 2.85	1.45	96.55% (+1.40)	―
Aug 03, 2023	2023 (Q2)	1.71 / 2.08	2.3	-9.57% (-0.22)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DVA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	$140.52	$127.81	-9.04%
May 12, 2025	$144.43	$143.98	-0.31%
Feb 13, 2025	$177.06	$157.42	-11.09%
Oct 29, 2024	$158.31	$141.22	-10.80%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.