DaVita earnings beat expectations

DENVER BUSINESS JOURNAL - DaVita Inc. reported what CEO Kent Thiry characterized Tuesday as a “solid” second quarter of earnings, boosting profit despite facing problems with its international division and with continued legislative attacks in California.

The Denver-based kidney-care provider (NYSE: DVA) upped its net income for the quarter to $127 million, from $53 million during the second quarter of 2016. Its adjusted net income was $179 million, or 92 cents per share, slightly exceeding the consensus earnings par share forecast of 90 cents per share, according to Nasdaq.com.

The results were enough to get the company to raise the bottom end of its guidance on kidney-care operating income, which makes up the vast majority of its overall operating income, by $40 million to $1.565 billion, said Javier Rodriguez, CEO of that division.

CFO Joel Ackerman increased the expected losses in its international division to $13 million for the year, however, due largely to slower-than-anticipated acquisition activity overseas.

Read more at the Denver Business Journal: http://bit.ly/2wm7H86

Copyright 2017 Denver Business Journal


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