DaVita outlook cut, conference call info

 Outlook:

The following forward-looking measures and the underlying assumptions involve significant known and unknown risks and uncertainties, including those described below, and actual results may vary materially from these forward-looking measures. For example, the widespread impact of the COVID-19 pandemic continues to generate significant risk and uncertainty, and as a result, our future results could vary materially from the guidance provided below. We do not provide guidance for operating income or diluted net income per share attributable to DaVita Inc. on a basis consistent with United States generally accepted accounting principles (GAAP) nor a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures on a forward-looking basis because we are unable to predict certain items contained in the GAAP measures without unreasonable efforts. These non-GAAP financial measures do not include certain items, including capacity closure charges and foreign currency fluctuations, which may be significant. The guidance for our effective income tax rate on adjusted income attributable to DaVita Inc. also excludes the amount of third-party owners' income and related taxes attributable to non-tax paying entities.

	Current 2022 guidance				Prior 2022 guidance
	Low		High		Low		High
	(dollars in millions, except per share data)
Adjusted operating income	$1,375		$1,450		$1,525		$1,675
Adjusted diluted net income per share attributable to DaVita Inc.	$6.20		$6.70		$7.50		$8.50
Free cash flow	$800		$1,000		$850		$1,100

Key drivers of 2023 adjusted operating income growth(1):

(dollars in millions)
Absence of ballot initiative expenses	$60
Integrated Kidney Care	($25) - $0
Treatment volume growth	($200) - $0
Revenue per treatment growth	$200 - $250
Labor pressure and inflation	($300) - ($250)
Cost savings initiatives	$125 - $175
2023 Adjusted operating income growth	($50) - $150

_____________________
(1)	Adjusted operating income growth outlook relative to 2022 adjusted operating income outlook, excluding certain items in both periods.

We will be holding a conference call to discuss our results for the third quarter ended September 30, 2022, on October 28, 2022, at 8:30 a.m. Eastern Time. To join the conference call, please dial (877) 918-6630 from the U.S. or (517) 308-9042 from outside the U.S., and provide the operator the password 'Earnings'. This call is being webcast and can be accessed at the DaVita Investor Relations website investors.davita.com. A replay of the conference call will also be available at investors.davita.com for the following 30 days.

https://finance.yahoo.com/news/davita-inc-3rd-quarter-2022-103000296.html