Summary by Moomoo AI
DaVita reported Q3 2024 consolidated revenues of $3.26 billion, up 2.4% from Q2 2024, with operating income increasing 5.7% to $535 million. U.S. dialysis revenue grew 2.3% to $2.91 billion, driven by increased average reimbursement rates and treatment volumes. Patient service revenue per treatment rose to $394.49, up 1.1% from Q2.The company's international operations expanded significantly, with revenues increasing 6.6% quarter-over-quarter to $258 million. Operating expenses increased, with patient care costs rising 2.0% to $1.89 billion due to higher compensation expenses and wage rates. The company completed $406 million in share repurchases during the quarter, acquiring 2.73 million shares.Looking ahead, DaVita faces ongoing challenges from labor market pressures and supply chain disruptions, particularly following Hurricane Helene's impact on Baxter's manufacturing facility. The company has implemented operational changes including conservation measures and temporary holds on new peritoneal dialysis starts. As of September 30, 2024, DaVita operated 2,660 U.S. dialysis centers and 453 international centers.
