Pito Chickering's questions to DaVita Inc (DVA) leadership • Q2 2025
Question
In a follow-up, Pito Chickering asked a series of rapid-fire questions covering the free cash flow outlook, IKC performance in the second half, MA penetration, commercial mix, and the recent Berkshire Hathaway stock sale.
Answer
CFO Joel Ackerman addressed each point, stating that free cash flow should improve in the second half due to catch-up from the cyber incident and favorable cash tax timing. He guided for IKC to be negative in the back half, noted MA penetration is stable with the market, confirmed commercial and home dialysis mix were immaterially changed, and described the Berkshire Hathaway sale as a normal course action under their standstill agreement.