DaVita (DVA) is trading higher in the latest session as investors reposition ahead of the company’s first-quarter 2026 earnings report, due after the market close on Tuesday, May 5, 2026. With the stock already up sharply from earlier-year levels, the pre-earnings bid suggests the market is leaning toward a solid report and/or confident commentary.

DaVita’s most recent quarterly update set an optimistic tone for 2026, with guidance calling for adjusted operating income of $2.085 billion to $2.235 billion, adjusted diluted EPS from continuing operations of $13.60 to $15.00, and free cash flow of $1.0 billion to $1.25 billion. Those targets have supported the narrative that earnings growth can be driven by operating discipline and capital returns even if top-line growth remains modest.

Key swing factors for the earnings reaction include any change to full-year guidance, commentary on patient volumes and payer mix, and how quickly cost pressures (especially labor and supplies) are easing or re-accelerating. Investors will also focus on share repurchases, since buybacks can materially influence per-share results when the company is generating meaningful free cash flow.