DaVita HealthCare Partners Inc. announced financial results for the 2nd quarter ended, June 30, 2016. Reported net income attributable to DaVita Healthcare Partners Inc. for the quarter was $53.4 million, down $117.1 million (-69%) from the end of the 2nd quarter of 2015.
The current quarter net income includes certain items that DaVita does not believe are indicative of ordinary results, including a goodwill impairment charge ($176 million), a gain on the partial sale of Tandigm ($40.3 million), a loss on the sale of HCP Arizona ($10.5 million) and related income tax ($10.4 million). When adjusted for these items net income was $210.0 million for the quarter. The adjusted net income for the 2nd quarter 2015 was $211.2 million, essentially flat year over year.
Adjusted operating income for the 3 months ended June 30, 2016 was $475.3 million, a 1.9% decrease when compared to adjusted operating income of $484.6 million for the same time period last year.
Net Revenues for the 2nd quarter 2016 were $3,717.7, a $283.1 million (8.2%) increase over the quarter ended, June 30, 2015. Net operating revenues for US Dialysis and Related Lab Services grew 5.1% to $2,264 million in the 2nd quarter 2016, from $2,154 million in the 2nd quarter of 2015.
DaVita projects adjusted consolidated operating income for the full year 2016 to be in the range of $1.785 billion to $1.875 billion. This projection is lower than the previous guidance of $1.800 billion to $1.950 billion.
Click here to view DaVita’s complete 2nd quarter 2016 financial results.
To Download to PDF: DaVita 2nd Quarter 2016 Results