DaVita said consolidated revenue for Q1 2025 (ended March 31) was $3.224 billion, operating income was $439 million, and diluted earnings per share was $2.00. Operating margin was 13.6%, compared with 15.8% a year earlier.

1. 01

   DaVita said consolidated revenue for Q1 2025 (ended March 31) was $3.224 billion, operating income was $439 million, and diluted earnings per share was $2.00. Operating margin was 13.6%, compared with 15.8% a year earlier.

2. 02

   The company said revenue per U.S. dialysis treatment for Q1 was $400.14, up from $384.54 a year earlier, and patient care costs per treatment were $271.77, up from $255.13 a year earlier. For the year-to-date change, it cited the incorporation of phosphate binders into the ESRD PPS bundle and Medicare base rate increases as drivers of revenue.

3. 03

   DaVita said it repurchased 3.7 million shares in Q1 2025 at an average price of $148.94 per share for $550 million. It also said operating cash flow was $180 million and free cash flow was $(45) million.

4. 04

   DaVita gave its full-year 2025 outlook, with adjusted operating income of $2,010 million to $2,160 million, adjusted diluted net income per share of $10.20 to $11.30, and free cash flow of $1,000 million to $1,250 million. The company said it does not provide GAAP operating income or GAAP diluted net income per share outlook.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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