DaVita Releases 2nd Quarter 2016 Results

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

 

For more information on EthiCare’s Dialysis Claims Settlement, please call Mark S. Hartmann, Jr., MS at (888) 838-4422 extension 703 or e-mail him at Mark@EthiCareAdvisors.com.