By Isabel Demetz
(Reuters) -World’s largest dialysis specialist Fresenius Medical Care’s first-quarter results beat market expectations across the board on Tuesday, sending its shares 5% higher, as revenue grew organically in all its segments.
While patient treatment in the U.S. took a hit from missed appointments in February due to high numbers of flu and cold cases, analysts were expecting those numbers to improve through March and April.
“Even though it was a tough flu season, it kind of subsided pretty quickly. So we’re very confident in … Q2 and beyond,” CEO Helen Giza told Reuters.
FMC, which made 67% of its quarterly revenue through dialysis procedures in the United States, said payments from medical insurers and favourable U.S. dollar to euro exchange rate offset the decrease in dialysis days.
The dialysis provider for 300,000 patients worldwide also confirmed its guidance for 2025 and continues to expect market treatment growth in the U.S. to be more than 0.5% this year.
“It was positive that the company confirmed its full-year outlook, although it is in constant currencies and current foreign exchange rates should still put pressure on consensus earnings estimates,” analysts at Deutsche Bank said.
FMC, which has focused on restructuring its portfolio over the past four years, expects to announce its medium-term guidance during its Capital Markets Day event on June 17.
“I think with divestitures, we are done for the most part,” Giza said.
The German company’s revenue was 4.88 billion euros ($5.53 billion) in the first quarter, slightly above analysts’ average estimate of 4.85 billion in a poll compiled by Vara Research.
Operating income adjusted for special items grew 13% to 457 million euros, beating analysts’ expectations of 446 million euros.
The shares were up 5.4% at 0803 GMT, trading at their highest level since July 2023 and on top of Europe’s benchmark STOXX 600 index.
($1 = 0.8831 euros)
(Reporting by Isabel Demetz in Gdansk, editing by Milla Nissi-Prussak)
