DaVita Inc. Q2 2024 10-Q Filing

TL;DR

DaVita's Q2 10-Q is in: financials look stable, debt obligations are clear. Hold or sell?

AI Summary

DaVita Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial figures and debt obligations are presented, with specific dates and amounts indicating the company's financial standing and future commitments.

Why It Matters

This filing provides investors and analysts with a detailed look into DaVita's financial health and operational performance during the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — The filing contains detailed financial information, including debt, which can be complex and subject to market fluctuations.

Key Numbers

• 5,000 — Shares (Likely related to share count or options, context unclear without full table.)
• 450,000 — Shares (Likely related to share count or options, context unclear without full table.)
• 85,081 — Value (Financial metric for the period, specific label missing.)
• 88,824 — Value (Financial metric for the period, specific label missing.)

Key Players & Entities

• DAVITA INC. (company) — Filer of the 10-Q
• 2000 16TH STREET, DENVER, CO 80202 (location) — Business and mailing address
• 20240630 (date) — Period of report for the 10-Q
• 20240806 (date) — Filing date of the 10-Q

FAQ

Key Financial Figures

• $0.001 — nge on which registered: Common Stock, $0.001 par value DVA NYSE Indicate by check

Filing Documents

• dva-20240630.htm (10-Q) — 1935KB
• dva-63024ex31110xq.htm (EX-31.1) — 9KB
• dva-63024ex31210xq.htm (EX-31.2) — 9KB
• dva-63024ex32110xq.htm (EX-32.1) — 6KB
• dva-63024ex32210xq.htm (EX-32.2) — 5KB
• dva-20240630_g1.jpg (GRAPHIC) — 32KB
• 0000927066-24-000128.txt ( ) — 8969KB
• dva-20240630.xsd (EX-101.SCH) — 52KB
• dva-20240630_cal.xml (EX-101.CAL) — 79KB
• dva-20240630_def.xml (EX-101.DEF) — 281KB
• dva-20240630_lab.xml (EX-101.LAB) — 715KB
• dva-20240630_pre.xml (EX-101.PRE) — 497KB
• dva-20240630_htm.xml (XML) — 1332KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements: Consolidated Statements of Income for the three and six months ended June 30, 2024 and June 30, 2023 1 Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2024 and June 30, 2023 2 Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Consolidated Statements of Cash Flow for the six months ended June 30, 2024 and June 30, 2023 4 Consolidated Statements of Equity for the three and six months ended June 30, 2024 and June 30, 2023 5 Notes to Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 42

Controls and Procedures

Item 4. Controls and Procedures 42

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 44

Risk Factors

Item 1A. Risk Factors 44

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 44

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 44

Other Information

Item 5. Other Information 44

Exhibits

Item 6. Exhibits 45 Signature 46 i DAVITA INC. CONSOLIDATED STATEMENTS OF INCOME (unaudited) (dollars and shares in thousands, except per share data) Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Dialysis patient service revenues $ 3,061,102 $ 2,890,685 $ 6,002,634 $ 5,650,719 Other revenues 125,620 109,684 254,643 222,349 Total revenues 3,186,722 3,000,369 6,257,277 5,873,068 Operating expenses: Patient care costs 2,142,299 2,055,844 4,221,275 4,114,033 General and administrative 367,845 364,016 730,325 695,630 Depreciation and amortization 175,661 183,672 362,744 361,743 Equity investment income, net ( 5,481 ) ( 8,454 ) ( 12,163 ) ( 15,274 ) Gain on changes in ownership interest — — ( 35,147 ) — Total operating expenses 2,680,324 2,595,078 5,267,034 5,156,132 Operating income 506,398 405,291 990,243 716,936 Debt expense ( 97,747 ) ( 103,507 ) ( 197,165 ) ( 204,281 ) Debt prepayment, extinguishment and modification costs ( 9,732 ) ( 7,962 ) ( 9,732 ) ( 7,962 ) Other (loss) income, net ( 27,479 ) 1,373 ( 40,120 ) 5,125 Income before income taxes 371,440 295,195 743,226 509,818 Income tax expense 71,688 48,818 137,494 92,773 Net income 299,752 246,377 605,732 417,045 Less: Net income attributable to noncontrolling interests ( 77,076 ) ( 67,686 ) ( 143,407 ) ( 122,807 ) Net income attributable to DaVita Inc. $ 222,676 $ 178,691 $ 462,325 $ 294,238 Earnings per share attributable to DaVita Inc.: Basic net income $ 2.56 $ 1.96 $ 5.29 $ 3.24 Diluted net income $ 2.50 $ 1.91 $ 5.15 $ 3.17 Weighted average shares for earnings per share: Basic shares 86,899 90,984 87,337 90,742 Diluted shares 88,950 93,418 89,749 92,952 See notes to condensed consolidated financial statements. 1 DAVITA INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (dollars in thousands) Three months ended June 30, Six months ended June 30, 2024 2023 2024 2023 Net income $ 299,752 $ 246,377 $ 605,732 $ 417

View Full Filing

View this 10-Q filing on SEC EDGAR