Oakland, Calif.-based Kaiser Permanente recorded an operating income of $932 million (2.9% operating margin) in the first quarter of 2025, compared to an operating income of $935 million (3.4% margin) in the first quarter of 2024, according to its May 9 financial report.
Five things to know:
1. Kaiser posted operating revenues of $31.8 billion in the three months ended March 31, up from $27.4 billion during the same period last year.
2. The system reported total operating expenses of $30.9 billion in the quarter, up from $26.5 billion.
3. The system recorded a net income of $2 billion in the first quarter of 2025. Excluding Risant Health’s acquisition of Danville, Pa.-based Geisinger on March 31, 2024, Kaiser posted $2.7 billion in net income in the first quarter of 2024. The acquisition resulted in a one-time nonoperating gain of $4.6 billion. Including the acquisition, Kaiser posted a net income of $7.4 billion for the quarter.
4. Capital spending was $1 billion in the first quarter compared to $808 million during the same period last year.
5. “Our first-quarter financial results reflect our sharp focus on delivering access to high-quality care and continually becoming more effective in our operations,” Kaiser’s Executive Vice President and CFO Kathy Lancaster said in the report. “We are investing in our facilities, services, and capabilities to meet the evolving needs of our members and patients.”
