Earnings summaries and quarterly performance for DAVITA.
Executive leadership at DAVITA.
Javier Rodriguez
Detailed
Chief Executive Officer
CEO
Christopher Berry
Detailed
Chief Accounting Officer
David Maughan
Detailed
Chief Operating Officer, DaVita Kidney Care
James Hearty
Detailed
Chief Compliance Officer
Joel Ackerman
Detailed
Chief Financial Officer and Treasurer
Kathleen Waters
Detailed
Chief Legal and Public Affairs Officer
Board of directors at DAVITA.
Research analysts who have asked questions during DAVITA earnings calls.
Andrew Mok
Barclays
4 questions for DVA
Also covers: ACHC, ADUS, AGL +21 more
Pito Chickering
Deutsche Bank
4 questions for DVA
Also covers: ACHC, AHCO, AVAH +18 more
Ryan Langston
TD Cowen
4 questions for DVA
Also covers: ACHC, ADUS, AGL +15 more
Albert Rice
UBS
3 questions for DVA
Also covers: ACHC, AMED, AMN +20 more
Justin Lake
Wolfe Research, LLC
3 questions for DVA
Also covers: AGL, CI, CNC +8 more
Joanna Gajuk
Bank of America
2 questions for DVA
Also covers: ACHC, ADUS, AGL +21 more
Lisa Clive
Sanford C. Bernstein & Co., LLC
2 questions for DVA
Also covers: FMS, PHG, SNN
A.J. Rice
UBS Group AG
1 question for DVA
Also covers: ACHC, AMED, AMN +20 more
Christian Malachy Porter
Bank of America
1 question for DVA
Also covers: CHE, EHC, SEM
Dean Rosales
Wolfe Research
1 question for DVA
Kevin Fischbeck
Bank of America
1 question for DVA
Also covers: AMN, ARDT, CCRN +9 more
Recent press releases and 8-K filings for DVA.
DaVita enters into Eighth Amendment to credit agreement
DVA
Debt Issuance
- On November 24, 2025, DaVita entered into an Eighth Amendment to its Credit Agreement, replacing its prior $1.95 billion term loan and $1.5 billion revolving facility with a new five-year $2 billion Term A-2 facility and a $1.5 billion revolving facility maturing in 2030.
- Borrowings under the new facilities bear interest at the Base Rate + 50 bps or Term SOFR + 150 bps, with margins resetting to 0–175 bps after delivery of Q1 2026 financials; the Term A-2 facility amortizes quarterly starting March 31, 2026.
- Proceeds will refinance the prior facilities, cover amendment fees, and be used for working capital and general corporate purposes, including potential stock repurchases and acquisitions.
Nov 25, 2025, 10:01 PM
DaVita outlines 2025 performance challenges and 2026 growth drivers
DVA
Guidance Update
- 2025 volume down 1%, driven by a severe flu season in Q1 and a cyber incident in Q2, with core dialysis growth running roughly –25 to –50 bps after adjusting for non-core impacts.
- Mortality remains elevated by over 100 bps versus pre-COVID levels, and mistreatment rates run at ~7%, about 100 bps above historical norms, both exacerbated by flu and cyber disruptions.
- New patient starts are volatile but remain within their pre-COVID range, and there is no observable impact from GLP-1 therapies on admission trends.
- For 2026, the focus is on reducing mortality through enhanced clinical operations—longer therapy duration, improved pharmaceuticals, and new dialysis technologies—to drive volume recovery alongside ~3% top-line growth via a balanced mix of rate and volume improvements.
Nov 17, 2025, 4:20 PM
DaVita CFO outlines 2025 performance and 2026 outlook at Wolfe Research Conference
DVA
Guidance Update
Demand Weakening
- 2025 challenges: faced a 1% volume decline due to a tough flu season in Q1 and a cyber incident in Q2, which also pressured revenue per treatment, yet full-year guidance was maintained.
- Mortality and mistreatments remain elevated, with mortality >100 bps above pre-COVID and mistreatment rates around 7% versus 6% historically; focus is on clinical improvements and new dialytic technologies to drive volume recovery.
- New patient starts have stayed within the pre-COVID range, and the Q4 2024 dip linked to GLP-1 was deemed noise with no sustained impact observed.
- 2026 outlook targets ~3% U.S. dialysis revenue growth through mortality improvements and balanced price/volume contributions, while expiration of enhanced premium tax credits is expected to create a $40 million headwind.
Nov 17, 2025, 4:20 PM
DaVita CFO discusses 2026 outlook at Wolfe Research Healthcare Conference
DVA
Guidance Update
Share Buyback
- 2025 volume down 1% due to a severe Q1 flu season and a Q2 cyber incident, driven primarily by elevated mortality and mistreatment rates, yet DaVita maintained full-year guidance.
- Mortality remains over 100 bps above pre-COVID levels, and mistreatment rates run at ~7% versus a historical ~6%, underscoring the need to reduce patient mortality to drive future volume growth.
- The anticipated expiration of enhanced premium tax credits is expected to create a ~$40 million headwind in 2026, based on a 1% mix shift from exchanges and an assumption that one-third of those patients retain commercial coverage.
- DaVita targets a 3.0–3.5× leverage range, funding share repurchases with excess free cash flow; ~$1 billion of buybacks have been executed year-to-date, with disciplined M&A continuing to be a secondary use of capital.
Nov 17, 2025, 4:20 PM
DaVita reports Q3 2025 results
DVA
Earnings
Guidance Update
Share Buyback
- Q3 adjusted operating income of $517 million, adjusted EPS of $2.51, and free cash flow of $604 million.
- U.S. dialysis treatments per day declined 1.5% year-over-year in Q3 2025.
- Reaffirmed full-year adjusted operating income guidance of $2.035 billion–$2.135 billion and adjusted EPS of $10.35–$11.15.
- Year-to-date share repurchases of ~10 million shares (~$1.5 billion) and ended Q3 with leverage at 3.37x consolidated EBITDA.
- Continued investment in technology infrastructure and AI—including clinical platform upgrades and revenue operations—expected to drive long-term cost efficiencies despite near-term G&A growth.
Oct 29, 2025, 9:00 PM
DaVita reports Q3 2025 results
DVA
Earnings
Guidance Update
Share Buyback
- DaVita delivered Q3 adjusted operating income of $517 million, adjusted EPS of $2.51, and free cash flow of $604 million; U.S. treatments per day declined 1.5% year-over-year, while revenue per treatment rose ~$6 sequentially.
- Reaffirmed full-year guidance: adjusted operating income of $2.035 billion to $2.135 billion and adjusted EPS of $10.35 to $11.15, with narrowed ranges at the midpoints.
- Repurchased 3.3 million shares in Q3 (plus 0.4 million post-quarter), totaling ~10 million shares year-to-date (~$1.5 billion) and maintained leverage at 3.37× EBITDA.
- Continued investments in AI-enabled technology infrastructure—enhancing the next-gen clinical platform, scheduling systems, and revenue operations—to improve patient care, drive cost efficiencies, and support long-term growth.
Oct 29, 2025, 9:00 PM
DaVita announces Q3 2025 results
DVA
Earnings
Share Buyback
Debt Issuance
- Consolidated revenues of $3.420 billion, operating income of $506 million (adjusted $517 million), diluted EPS of $2.04 (adjusted $2.51).
- Operating cash flow of $842 million and free cash flow of $604 million for the quarter.
- Refinance of Term Loan B-1 with a $1.9 billion Term Loan B-2 and repurchase of 3.3 million shares at an average price of $140.67.
- U.S. dialysis treatments totaled 7.24 million (avg 91,680 per day), down 0.5% QoQ; normalized non-acquired treatment growth was -0.6% YoY.
Oct 29, 2025, 8:09 PM
DaVita reports Q3 2025 results
DVA
Earnings
Debt Issuance
Share Buyback
- Consolidated revenues were $3.420 billion, operating income $506 million (adjusted $517 million), diluted EPS $2.04 (adjusted $2.51), operating cash flow $842 million and free cash flow $604 million.
- Total U.S. dialysis treatments in Q3 were 7,242,725 (average 91,680 per day), with normalized non-acquired treatment growth down 0.6% YoY.
- In July 2025, refinanced Term Loan B-1 with a new $1.9 billion Term Loan B-2, retiring $1.6 billion of prior debt and $250 million of Term Loan A-1.
- Repurchased 3.3 million shares for $465 million at an average price of $140.67/share during Q3 and 0.4 million shares for $54 million post-quarter at $135.36/share.
Oct 29, 2025, 8:05 PM
DaVita: VSee Health Secures FedRAMP High ATO from HHS
DVA
Revenue Acceleration/Inflection
- VSee Health received FedRAMP High ATO from the U.S. HHS, enabling secure telehealth service deployment to federal agencies with stringent cybersecurity requirements.
- Q2 2025 revenue rose to $3.4 million (up 98% YoY) and gross profit margin improved from 45% to 47%.
- The company eliminated over $5 million in legacy SPAC debt, strengthening its balance sheet.
- FedRAMP approval is expected to simplify procurement and accelerate VSee’s adoption across federal healthcare programs.
- Intraday stock highs reached $2.84 and trading volume surged to 273 million shares, reflecting strong investor interest.
Oct 28, 2025, 12:59 PM
DaVita amends credit agreement and adds $250 M incremental term loan
DVA
Debt Issuance
- On July 17, 2025, DaVita Inc. entered into a Seventh Amendment to its Credit Agreement, repricing its senior secured Tranche B-1 Term Loans into a new Tranche B-2 facility maturing May 2031 and updating interest provisions.
- The amendment lowers the Applicable Margin on Term SOFR loans from 200 bps to 175 bps and on Base Rate loans from 100 bps to 75 bps; the Base Rate is the highest of Fed Funds + 50 bps, Wells Fargo’s prime rate, or 1-month Term SOFR + 100 bps.
- DaVita borrowed $250 million of Incremental Tranche B-2 Term Loans, using the proceeds to repay an equal amount of its outstanding Tranche A Term Loans maturing April 2028.
Jul 17, 2025, 12:00 AM
Quarterly earnings call transcripts for DAVITA.
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