DaVita Q1 Profit Falls, Raises FY21 Outlook

Thursday, dialysis service provider DaVita Inc. (DVA) on Thursday posted first-quarter net income of $237.4 million, lower than $240 million in the same period last year. On a per share basis, earnings rose to $2.09 from $1.89 a year ago.

On average, 7 analysts polled by Thomson Reuters expected the company to report earnings of $1.8 per share in the quarter. Analysts' estimates usually exclude one-time items.

The company's net income from continuing operations rose to $291.5 million from $278 million in the prior-year quarter.

Quarterly revenues declined to $2.82 billion from $2.84 billion in the comparable quarter last year, while analysts were looking for revenues of $2.82 billion in the period.

Looking ahead, the company now expects fiscal 2021 adjusted operating income between $1.75 billion and $1.88 billion from the earlier announced $1.68 billion and $1.83 billion.

Adjusted net income from continuing operations per share is now expected between $8.20 and $9.00 from the earlier $7.75 and $8.75.

On average, 10 analysts expect the company to report earnings per share of $8.25 in fiscal 2021.

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