Shares of DaVita Inc. fell in the extended session on Thursday after dialysis service provider’s earnings failed to meet Wall Street estimates, as the company said COVID-19 factors and higher wages affected its results.
shares fell more than 6% after hours, after a 3.5% drop in the regular session to close at $ 106.94.
The company posted first quarter net income of $ 162.1 million, or $ 1.61 per share, compared to $ 237.4 million, or $ 2.09 per share, in the first quarter. ‘last year.
“Diluted earnings per share in the first quarter of 2022 were affected by continued volume pressures from COVID-19, including excess patient mortality and higher lost treatments as a result of the omicron variant,” he said. said DaVita in a statement. “In addition, diluted earnings per share in the first quarter were affected by higher-than-normal wage increases.”
Revenue was relatively stable, at about $ 2.5 million lower than the $ 2.82 billion reported last quarter.
Analysts polled by FactSet had forecast $ 1.87 billion in revenue of $ 2.89 billion.
“Right now is an interesting time, as our country and the world are facing a unique portfolio of one-off events happening at the same time,” Javier Rodriguez, CEO of DaVita, said in a statement. “As our organization works on these challenges, I think it’s important to consider why DaVita exists: We are a patient-centered organization that provides vital care to more than 240,000 people in 12 countries.”