DaVita Inc.’s Earnings Miss Expectations (DVA)

DaVita Inc. DVA reports Q2 earnings of $1.06 versus estimates of $1.06. DaVita Inc. reports Q2 revenues of $1.59 billion versus estimates of $1.60 billion. Revenues increased 4.4% year over year. During the first six months of 2010, the company repurchased a total of 1,587,160 shares of common stock for $100 million, or an average price of $63.04 per share. As a result of these transactions, the remaining balance in their current authorization for share repurchases is approximately $400 million. As for guidance, management said, “We are narrowing our operating income guidance for 2010 to a range of $970 million to $1,020 million. We are also revising our operating cash flow guidance for 2010. Our operating cash flow is now projected to be in the range of $725 million to $825 million.” Shares of DVA are bid lower in the after-hours.