Oakland, Calif.-based Kaiser Permanente recorded an operating income of $495 million (1.4% operating margin) in the third quarter of 2026, up from $218 million (0.7% margin) during the same period last year, according to its Nov. 6 financial report.
Seven things to know:
1. Kaiser Permanente reported total operating revenue of $34.7 billion during the three months ended Sept. 30, up from $31.8 billion during the same period last year.
2. Total operating expenses were $34.2 billion in the third quarter of 2026, up from $31.6 billion during the same period last year.
3. Capital spending was $1.2 billion in the third quarter of 2026, down from $1.3 billion during the same period last year. As of Sept. 30, Kaiser had more than 60 projects in active design and construction, including seven major hospital construction projects aimed at meeting California seismic regulations. Kaiser Permanente Executive Vice President and CFO Kathy Lancaster said the system continued to invest in the facilities and technology members need to receive care in the setting they prefer, including inpatient, ambulatory and telehealth services.
4. Kaiser Permanente and Risant Health committed nearly $1 billion in charitable grants, loans and investments during the quarter, including more than $315 million in medical financial assistance and charitable health coverage for low-income and uninsured patients. The commitments also included up to $32 million to expand the Hope Emergency Center at Martin Luther King Jr. Community Hospital in Los Angeles and up to $23 million to restore and reopen Kula Hospital on Maui.
5. Risant Health, a nonprofit created by Kaiser Permanente to expand value-based care, announced Oct. 21 that Oklahoma City-based Integris Health has signed a definitive agreement to join, pending regulatory approvals. Integris would be the third system to join Risant, alongside Danville, Pa.-based Geisinger and Greensboro, N.C.-based Cone Health. Integris, which operates 10 acute and 10 specialty hospitals, would keep its name, brand, medical staff and leadership team.
6. Health plan membership across Kaiser Permanente and Risant affiliates was nearly 13.4 million as of Sept. 30.
7. Kaiser reported a net income of $2.3 billion in the third quarter of 2026, down from $2.6 billion during the same period last year.
