Fresenius Medical Care Q1 Profit Down, Revenues Rise; Confirms FY23 Outlook

(RTTNews) - Fresenius Medical Care AG & Co. KGaA (FMS), a German- American healthcare company, repored Tuesday that its first-quarter net income attributable to shareholders decreased 45 percent to 86 million euros from last year's 157 million euros.

Basic earnings per share decreased 45 percent to 0.29 euro from 0.54 euro a year ago.

Adjusted net income was 154 million euros, compared to 197 million euros a year ago. Adjusted earnings per share were 0.53 euro, compared to 0.67 euro last year.

Revenue, however, increased 3 percent to 4.70 4 billion euros from prior year's 4.55 billion euros. Revenue grew 2 percent at constant currency as well as organically.

Looking ahead for fiscal 2023, the company confirmed financial outlook based on positive developments.

Fresenius Medical Care still expects revenue to grow at a low to mid-single digit percentage rate from last year's 19.40 billion euros. Operating income is still projected to remain flat or decline by up to a high-single digit percentage rate from prior year's 1.54 billion euros.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.