DaVita stock up nearly 5% after dialysis services company sees 'improving macro environment'

DaVita Inc. (DVA) shares rose nearly 5% in the extended session Monday after the provider of kidney dialysis services reported first-quarter adjusted earnings above Wall Street expectations, saying it benefited from "an improving macro environment." DaVita earned $116 million, or $1.25 a share, in the quarter, compared with $162 million, or $1.61 a share, in the year-ago period. Adjusted for one-time items, the company earned $1.58 a share. Revenue rose slightly to $2.87 billion, from $2.82 billion a year ago. FactSet consensus called for EPS of $1.18 a share on sales of $2.84 billion. "While some external uncertainty remains, 2023 is off to a strong start and the continuation of current trends would put us on a path to deliver strong results for the full year," Chief Executive Javier Rodriguez said in a statement. Shares of DaVita ended the regular trading day up 0.8%.

-Claudia Assis

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05-08-23 1650ET

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