Research Desk Line-up: Providence Service Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 16, 2017 /Pro-Trader Daily has just published a free post-earnings coverage on DaVita Inc. (NYSE: DVA), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=DVA, following the Company's disclosure of its second quarter fiscal 2017 on August 01, 2017. The Company's revenue increased 4.3% on a y-o-y basis and exceeded market estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Specialized Health Services industry. Pro-TD has currently selected The Providence Service Corporation (NASDAQ: PRSC) for due-diligence and potential coverage as the Company reported on August 08, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Providence Service when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on DVA; also brushing on PRSC. With the links below you can directly download the report of your stock of interest free of charge at:
For three months ended June 30, 2017, DaVita's revenue increased 4.3% to $3.88 billion on a y-o-y basis from $3.72 billion in Q2 FY16.The revenue surpassed analysts' expectations of $3.84 billion.
For the reported quarter, DaVita's G&A expenses decreased 50 basis points to 9.9% of revenue from 10.4% of revenue in Q2 FY16. During Q2 FY17, the Company's EBITDA was $578.35 million and adjusted EBITDA was $635.87 million.
For the reported quarter, DaVita's EBIT margin increased 90 basis points to 9.7% of revenue from 8.8% of revenue in Q2 FY16. During Q2 FY17, the Company's adjusted EBIT margin decreased 160 basis points to 11.2% of revenue from 12.8% of revenue in Q2 FY16. During Q2 FY17, DaVita's effective tax rate was 41.4% compared to 58.8% in Q2 FY16.
During Q2 FY17, DaVita's net income increased 137.9% to $127 million on a y-o-y basis from $53.38 million in Q2 FY16. For the reported quarter, the Company's adjusted net income decreased 14.9% to $178.68 million on a y-o-y basis from $210.01 million in Q2 FY16. During Q2 FY17, DaVita's diluted EPS increased 150% to $0.65 on a y-o-y basis from $0.26 in Q2 FY16. For the reported quarter, the Company's adjusted diluted EPS decreased 8.9% to $0.92 on a y-o-y basis from $1.01 in Q2 FY16. The adjusted diluted EPS surpassed analysts' expectations of $0.90.
DaVita's Segment Details
Kidney Care -During Q2 FY17, the Kidney Caresegment's operating revenue increased 3.1% to $2.33 billion from $2.26 billion in Q2 FY16. For the reported quarter, the segment's patient care cost per treatment decreased 6.9% to $211.82 from $227.47 in Q1 FY17. The decrease was due to better performance in center operating expenses and some seasonal factors. During Q2 FY17, the segment's G&A expenses decreased 10 basis points to 8.1% of revenue from 8.2% of revenue in Q2 FY16. For the reported quarter, the segment's EBIT and adjusted EBIT increased 22 basis points to $450 million from $449 million in Q2 FY16.
Davita Medical Group (DMG) -During Q2 FY17, the DMGsegment's operating revenue increased 13.2% to $1.20 billion from $1.06 billion in Q2 FY16. For the reported quarter, the segment's EBIT was negative $13 million compared to negative $102 million Q2 FY16. During Q2 FY17, the segment's adjusted EBIT decreased 22.7% to $34 million from $44 million in Q2 FY16.
The Company's total US dialysis treatments for Q2 2017 were 7,035,894, or 90,204 treatments per day, representing a per day increase of 4.3% on a y-o-y basis. The number of member months for which DMG provided care during the reported quarter was approximately 2.2 million, of which approximately 0.9 million, 1.0 million, and 0.3 million related to senior, commercial, and Medicaid members, respectively.
As on June 30, 2017, DaVita's cash and cash equivalents decreased 22% to $712.00 million from $913.19 million in Q4 FY16. For the reported quarter, the Company's inventories increased 20.9% to $199.30 million from $164.86 million in Q4 FY16.
During Q2 FY17, DaVita's long-term debt decreased 44 basis points to $8.91 billion from $8.95 billion in Q4 FY16. In H1 FY17, DaVita's cash provided by operating activities increased 6.8% to $1.01 billion from $945.64 million in H1 FY16. During Q2 FY17, the Company repurchased 3.6 million shares of its common stock for $232 million.
For fiscal 2017, DaVita expects adjusted EBIT to be in the range of $1.68 billion-1.78 billion, including adjusted EBIT estimate of $1.57 billion-$1.63 billion for its Kidney Care segment and adjusted EBIT of $110 million-$150 million for its DMG segment. The Company expects operating cash flow to be in the range of $1.75 billion-1.95 billion for fiscal 2017.
At the close of trading session on Tuesday, August 15, 2017, DaVita's stock price slightly rose 0.11% to end the day at $56.98. A total volume of 1.24 million shares were exchanged during the session. The Company's shares are trading at a PE ratio of 8.75. At Tuesday's closing price, the stock's net capitalization stands at $10.89 billion.
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