S&P 500 (NYSE:SPY) component Davita Inc. (NYSE:DVA) reported its results for the first quarter. DaVita operates kidney dialysis centers and provides related lab and ancillary services across the United States.
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Davita Earnings Cheat Sheet for the First Quarter
Results: Net income for Davita Inc. rose to $140.1 million ($1.46 per share) vs. $94.5 million (96 cents per share) in the same quarter a year earlier. This marks a rise of 48.3% from the year-earlier quarter.
Revenue: Rose 19.5% to $1.87 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Davita Inc. was about in line with expectations as the mean analyst estimate of $1.45 per share. Analysts were expecting revenue of $1.85 billion.
The company has now seen its net income rise for three quarters in a row. In the fourth quarter of the last fiscal year, net income rose more than twofold and in the third quarter of the last fiscal year, the figure rose 13.4%.
The company has now beaten estimates the last two quarters. In the fourth quarter of the last fiscal year, it topped expectations with net income of $1.58 versus a mean estimate of net income of $1.48 per share.
Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the second quarter has moved up from $1.53 a share to $1.54 over the last sixty days. The average estimate for the fiscal year is now $6.23 per share, down from $6.24 sixty days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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