DVA - DaVita shares fall after Q3 results FY forecast

DaVita (NYSE:DVA) shares fell over 4% post market after the company reported third-quarter results and provided an update on its FY financial forecast. The company cut the higher end of its FY adjusted profit per share forecast to a range of $8.80-$9.15, compared to a prior guidance of 8.80-$9.40. Analysts were expecting $9.18 per share. Quarterly revenue increased slightly to $2.94B, beating analysts' estimate by $30M. The revenue performance was primarily due to favorable changes in commercial mix and increased hospital inpatient dialysis revenue per treatment driven by COVID-19, partially offset by unfavorable changes in government rates. The company also posted adjusted quarterly profit of $2.36 per share, beating analysts' estimate by 10 cents. Previously (Oct. 28): DaVita HealthCare Partners EPS beats by $0.10, beats on revenue, narrows guidance range.

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DaVita shares fall after Q3 results, FY forecast