Confirms 2021 and medium-term guidance Outlines cost cutting plans, FMC to follow (Adds details, CEO quotes from call)
May 6 (Reuters) - German healthcare group Fresenius reported a smaller than expected fall in quarterly net income on Thursday, helped by government aid for its hospitals and lower mortality among dialysis patients as more received COVID-19 vaccines.
The pandemic has had a mixed effect on healthcare groups, as demand for coronavirus-related products and services has come alongside a drop in visits to doctors and a rise in patient deaths.
Fresenius, which controls the world’s largest provider of kidney dialysis services and makes COVID-19 treatment dexamethasone, said first-quarter net income fell 2% to 435 million euros ($522 million) on a currency-adjusted basis.
Fresenius Q1 Net Income Before Special Items Declines; Confirms FY21 Guidance
BAD HOMBURG VOR DER HOEHE (dpa-AFX) - Fresenius SE & Co. KGaA (FSNUF.PK, FSNPF.PK) reported first quarter net income attributable to company of 435 million euros, down 5% from prior year. Earnings per ordinary share was 0.78 euros compared to 0.82 euros. Group net income before special items decreased by 6% (down 2% in constant currency) to 435 million euros. Excluding estimated COVID-19 effects, Group net income before special items would have grown between flat to 4% in constant currency. Before special items, earnings per ordinary share was 0.78 euros compared to 0.83 euros.
First quarter sales were 8.98 billion euros, decreased by 2% (increased by 3% in constant currency) from prior year. Organic growth was 2%, for the quarter. Excluding estimated COVID-19 effects, Group sales growth would have been 4% to 5% in constant currency, the company said.
Provided by Dow Jones By Kim Richters Fresenius SE said sales and adjusted profit in the first quarter declined, and the German healthcare company backed its full-year 2021 guidance. Quarterly net profit before special items was 435 million euros ($522.2 million), down from EUR465 million a year earlier. Sales declined to EUR9.0 billion from EUR9.1 billion, the company said. At Fresenius Medical Care, the company s dialysis division, net profit fell to EUR249 million from EUR283 million, while sales fell to EUR4.21 billion from EUR4.49 billion, the company said. Fresenius SE backed its guidance for 2021, expecting low- to mid-single-digit percentage sales growth from EUR36.28 billion in 2020. Net profit before special items for the year is expected to be at least broadly stable compared with the prior year s EUR1.80 billion. Both outlooks are in constant currency, the company said.
Fresenius: Q1 Earnings Snapshot
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BAD HOMBURG, Germany (AP) Fresenius Medical Care AG (FMS) on Thursday reported first-quarter earnings of $300.2 million.
The Bad Homburg, Germany-based company said it had net income of 51 cents per share.
The dialysis services provider posted revenue of $5.07 billion in the period.
Fresenius shares have dropped nearly 5% since the beginning of the year. The stock has risen slightly more than 2% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FMS at https://www.zacks.com/ap/FMS Top Picks In Shopping
Confirms 2021 and medium-term guidance Outlines cost cutting plans, FMC to follow (Adds details, CEO quotes from call)
May 6 (Reuters) - German healthcare group Fresenius reported a smaller than expected fall in quarterly net income on Thursday, helped by government aid for its hospitals and lower mortality among dialysis patients as more received COVID-19 vaccines.
The pandemic has had a mixed effect on healthcare groups, as demand for coronavirus-related products and services has come alongside a drop in visits to doctors and a rise in patient deaths.
Fresenius, which controls the world’s largest provider of kidney dialysis services and makes COVID-19 treatment dexamethasone, said first-quarter net income fell 2% to 435 million euros ($522 million) on a currency-adjusted basis.