DaVita Inc. announced its financial and operating results for the second quarter ended June 30, 2025, reporting adjusted diluted earnings per share (EPS) of $2.95. This figure beat analysts' consensus estimates by 7.3%.
Total revenues for Q2 2025 reached $3.38 billion, a 6.1% increase year-over-year, surpassing Wall Street's revenue expectations. Operating income for the quarter increased 22.6% sequentially to $538 million from $439 million in Q1 2025.
U.S. dialysis treatments for the second quarter were 7.19 million, showing a per day increase of 0.4% compared to Q1 2025. However, normalized non-acquired treatment growth was (0.8)% year-over-year, and management revised its full-year 2025 treatment volume outlook to a year-over-year decline of 75 to 100 basis points.
The company incurred approximately $13.5 million in charges related to the cybersecurity incident experienced in April 2025. These costs increased patient care costs by $1.0 million and general and administrative expenses by $12.5 million, reflecting the financial impact of the disruption.
DaVita continued its capital allocation strategy by repurchasing 3.1 million shares for $446 million during Q2 2025, at an average price of $144.00 per share. Subsequent to the quarter, an additional 2.7 million shares were repurchased for $393 million through August 1, 2025.
For the full year 2025, DaVita reaffirmed its adjusted operating income guidance of $2.01 billion to $2.16 billion and adjusted diluted EPS guidance of $10.20 to $11.30. The company also maintained its free cash flow outlook of $1.00 billion to $1.25 billion, despite the volume headwinds and cyber incident costs.
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