Stock Monitor: Providence Service Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 20, 2018 / Active-Investors.com has just released a free earnings report on DaVita Inc. (NYSE: DVA). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=DVA. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on February 13, 2018. The kidney dialysis provider beat earnings expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for The Providence Service Corporation (NASDAQ: PRSC), which also belongs to the Healthcare sector as the Company DaVita. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, DaVita most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For Q4 2017, DaVita recorded revenues of $2.78 billion, up 3% compared to $2.70 billion in Q4 2016. The Company's revenue numbers fell short of analysts' estimates of $3.9 billion.
For the full year FY17, DaVita's revenues gained 2% to $10.88 billion versus $10.71 billion in FY16.
During Q4 2017, DaVita recognized a non-cash other-than-temporary impairment charge of $280 million on its investment in the Company's Asia/Pacific joint venture (APAC JV). This charge resulted from changes in expectations for the joint venture based on the APAC JV's continuing market research and assessments concerning the available market opportunities.
DaVita's operating income was $150 million in Q4 2017 compared to $363 million in Q4 2016. The Company's adjusted operating income was $430 million in the reported quarter versus $423 million in the year ago same period.
DaVita's net income from continuing operations attributable to common shareholders was $156 million, or $0.85 per share, in Q4 2017 compared to $143 million, or $0.73 per share, in Q4 2016.
For Q4 2017, DaVita's adjusted net income from continuing operations attributable to common shareholders totaled $170 million, or $0.92 per share, compared to $177 million, or $0.90 per share, in Q4 2016. The Company's earnings beat Wall Street's estimates of $0.91 per share.
DaVita's net income from continuing operations attributable to common shareholders was $901 million, or $4.71 per share, in FY17 compared to $1.032 billion, or $5.04 per share, in FY16. The Company's adjusted net income from continuing operations attributable to common shareholders was $635 million, or $3.32 per share, in FY17 compared to $692 million, or $3.38 per share, in FY16. As a result of the enactment of the US tax reform legislation in December 2017, DaVita recorded a reduction in tax expenses of $252 million in Q4 2017 and FY17, related to the remeasurement of its net deferred tax liabilities to the new federal tax rate.
Operating Results
DaVita's total US dialysis treatments were 7,244,555, or 92,287 treatments per day, in Q4 2017, representing a per day increase of 5.8% on a y-o-y basis. The Company's normalized non-acquired treatment growth was 3.5% in the reported quarter versus the year ago comparable period.
As of December 31, 2017, DaVita provided dialysis services to a total of approximately 220,600 patients at 2,747 outpatient dialysis centers; of which 2,510 centers were located in the United States, and 237 centers were located in 11 countries outside of the United States. During Q4 2017, the Company acquired 9 dialysis centers; opened a total of 36 new dialysis centers; and closed 4 centers in the United States. DaVita also acquired 6 dialysis centers; opened 2 dialysis centers; and closed 1 dialysis center outside of the United States.
Cash Matters
For the full fiscal year ended December 31, 2017, DaVita's consolidated operating cash flow was $1.91 billion, of which $1.56 billion was from continuing operations. In Q4 2017, the Company's consolidated operating cash flow was $343 million, of which $287 million was from continuing operations. DaVita's free cash flow from continuing operations was $150 million and $1.04 billion, for the quarter and full year ended December 31, 2017, respectively.
During FY17, DaVita repurchased a total of 12.97 million shares of its common stock, or a total of $811 million, at an average price of $62.54 per share. During Q4 2017, the Company repurchased a total of 7.41 million shares of its common stock for approximately $462 million, at an average price of $62.37 per share.
On October 10, 2017, DaVita's Board of Directors approved an additional share repurchase authorization in the amount of approximately $1.25 billion. As of February 12, 2018, the Company had a total of approximately $1.05 billion in outstanding Board repurchase authorizations remaining under its stock repurchase program.
Stock Performance Snapshot
March 19, 2018 - At Monday's closing bell, DaVita's stock marginally dropped 0.18%, ending the trading session at $68.41.
Volume traded for the day: 2.03 million shares, which was above the 3-month average volume of 1.46 million shares.
Stock performance in the previous six-month period - up 14.72%; and past twelve-month period - up 0.90%
After yesterday's close, DaVita's market cap was at $12.62 billion.
Price to Earnings (P/E) ratio was at 19.93.
The stock is part of the Healthcare sector, categorized under the Specialized Health Services industry.
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