DVA - DaVita down 6% after hours following Q1 misses as COVID weighs on patient volumes

DaVita (NYSE:DVA) shares are down 6% in after-market trading after the dialysis services company missed on both the top and bottom lines in its Q1 2022 results. Net income of $162M ($1.61 per diluted share) in the quarter was a ~32% decline from the year-ago period. Revenue of ~$2.8B was flat year over year. DaVita said it was continuing to face volume pressures due to COVID-19 that has led to missed treatments. Also, its EPS was impacted by higher than normal wage rate increases. Results also showed that although revenue per treatment increased modestly year over year, so did patient care costs per treatment. For 2022 guidance, the company expects adjusted diluted net income per share of $7.50-$8.50 vs. consensus of $7.99. Seeking Alpha's Quant Rating views DaVita (DVA) as a hold.

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DaVita down 6% after hours following Q1 misses as COVID weighs on patient volumes