Aug 5 (Reuters) - DaVita ( DVA ) beat Wall Street
estimates for second-quarter profit on Tuesday, driven by
demand for its kidney dialysis services.
The company provides kidney care services for patients with
chronic kidney failure through a network of outpatient clinics
and at-home dialysis across the United States.
DaVita ( DVA ), which had been grappling with rising patient care
and operating costs, has also experienced disruptions from
hurricanes and a ransomware attack in April, which affected some
of its operations.
The company said its higher IT expenses and costs tied to
the cybersecurity incident led to a 10% rise in general and
administrative costs from the first quarter.
Earlier in the day, DaVita's ( DVA ) peer Fresenius Medical Care
missed quarterly profit expectations after a severe
flu season in the U.S. led to higher mortality among patients
and a greater number of missed treatments earlier this year.
However, DaVita ( DVA ) reported quarterly revenue of $3.38 billion,
compared to analysts' estimates of $3.36 billion, according to
LSEG data.
The company said it benefited from seasonal factors,
including more patients meeting their co-insurance and
deductibles, meaning insurance kicked in to cover treatment
costs.
On an adjusted basis, DaVita ( DVA ) reported a second-quarter
profit of $2.95 per share for the quarter, above analysts'
estimates of $2.77 per share.