Fresenius Medical Care Q2 Profit Down; Narrows FY Operating Income Guidance

(RTTNews) - Fresenius Medical Care AG & Co. KGaA (FMS), a German-American healthcare company, reported that its second quarter net income attributable to shareholders decreased to 140 million euros from last year's 147 million euros, with earnings per basic share declining to 0.48 euros from 0.50 euros in the previous year.

Excluding special items and PRF, net income increased 51% to 175 million euros from the prior year.

Revenue for the second-quarter increased 1.4% to 4.83 billion euros from last year. Revenue grew 6% at constant currency as well as organically.

Fresenius Medical Care said it is fully on track to achieve sustainable savings of 250 million euros to 300 million euros by year end 2023 and 650 million euros by year end 2025.

The company continues to expect for 2023 revenue to grow at a low to mid-single digit percentage rate compared to 19.40 billion euros reported in 2022.

The company narrowed its operating income target range for 2023. It now expects operating income to remain flat or decline by up to a low-single digit percentage rate. Previously, it expected operating income to remain flat or decline by up to a high-single digit percentage rate.

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