DaVita beats quarterly profit estimates amid stable demand for dialysis services

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(Reuters) -DaVita beat Wall Street estimates for first-quarter profit on Monday, driven by steady demand for its kidney dialysis services.

The company provides these services for patients with chronic kidney failure through a network of outpatient clinics and at-home dialysis services across the United States.

DaVita, which had been grappling with rising patient care and operating costs, has also experienced disruptions from hurricanes and a recent ransomware attack, which affected some of its operations.

In its quarterly filing, the company said that some of its data was exfiltrated during the cybersecurity incident and it is currently verifying the extent and nature of the affected files, which include patients’ personal and medical data.

On an adjusted basis, DaVita reported a first-quarter profit of $2 per share, above analysts’ estimates of $1.95 per share, according to data compiled by LSEG.

DaVita also reported a decline in health benefit expenses, center closure costs, insurance costs, and other direct operating expenses related to its dialysis centers.

For the quarter ended March 31, revenue rose by 5% to $3.22 billion, compared to analysts’ estimates of $3.21 billion.

The Denver, Colorado-based company reaffirmed its expectation for an adjusted per-share profit between $10.20 and $11.30 in 2025.

(Reporting by Christy Santhosh in Bengaluru; Editing by Mohammed Safi Shamsi)