DaVita's second quarter revenue of $3.55B and EPS of $4.02 beat estimates, driven by volume growth and cost management.

DaVita reported second quarter 2026 revenue of $3.554 billion and diluted earnings per share of $4.02, exceeding analyst estimates of $3.49 billion and $3.88, respectively. The company generated operating income of $579 million on an operating margin of 16.3%, an expansion from 14.1% in the prior quarter.

Key Highlights

• U.S. dialysis treatments increased 1.09% per day compared to the first quarter, reaching a total of 7.23 million for the quarter.
• Patient care costs per treatment declined sequentially to $277.40 from $280.11, attributed mainly to decreases in payroll taxes and pharmaceutical costs.
• The company repurchased 2.2 million shares for $348 million during the quarter and generated free cash flow of $256 million.