DaVita Inc. Reports 5.6% Revenue Growth to $12.8 Billion for Fiscal Year 2024

DaVita Inc. reported a solid financial performance for the fiscal year ending December 31, 2024, with total consolidated revenues reaching $12.8 billion, a 5.6% increase from $12.1 billion in 2023. The U.S. dialysis segment, which constitutes approximately 88% of total revenues, generated $11.4 billion, reflecting a 4.2% growth driven by a rise in average patient service revenue per treatment. Operating income for the company increased by 30.4% to $2.09 billion, with adjusted operating income rising 21.2% to $1.98 billion. The company also reported operating cash flows of $2.02 billion and free cash flows of $1.16 billion.

In terms of operational metrics, DaVita served approximately 200,800 patients across 2,657 outpatient dialysis centers in the U.S. as of December 31, 2024. The company experienced a net increase in consolidated patient growth of 12.4%, with international operations seeing a significant 62.6% growth. However, the U.S. dialysis patient count remained flat compared to the previous year, primarily due to elevated mortality rates and missed treatment days influenced by severe weather events. The company’s international operations expanded to 509 outpatient dialysis centers in 13 countries, serving around 80,300 patients.

Strategically, DaVita has focused on enhancing its integrated kidney care (IKC) business, which provided services to 70,400 patients in risk-based arrangements and an additional 11,600 patients in other integrated care setups. The company also made significant investments in its international operations, acquiring 142 new dialysis centers. In 2024, DaVita repurchased 9.8 million shares of its common stock for approximately $1.39 billion, reducing its outstanding share count by 9.3%.

Looking ahead, DaVita anticipates relatively flat treatment volumes in 2025 due to ongoing challenges such as elevated mortality rates and missed treatments. The company expects to see operating income growth driven by improvements in revenue per treatment, particularly with the incorporation of oral phosphate binders into the reimbursement bundle. However, it also foresees increased costs per treatment due to inflationary pressures and rising labor costs. The company remains committed to its strategic initiatives in integrated kidney care and international expansion, while navigating a complex regulatory environment and competitive landscape.