Dialysis firm FMC's earnings miss market view, hit by severe flu season in US
FMC, which makes the bulk of its sales in the U.S. and employs most of its staff there, however was "encouraged by the strong and accelerating momentum in patient referrals" that had continued in the second quarter, CEO Helen Giza said in a statement.
But the positive development in patient inflow was offset by a higher than expected outflow due to higher mortality rates in the U.S. following the severe flu season, she added.
That has impacted treatment numbers for the second quarter and for the remainder of the year, FMC said.
The world's largest dialysis provider said its adjusted operating income grew 9% to 476 million euros ($550.2 million) in the second quarter, but missed analysts' average estimate of 492 million euros in a company-provided consensus.
Its shares were down around 3% in early Frankfurt trade.
U.S. same market treatment growth was flat year-on-year, as a rise in newly started treatments partially offset patient outflow. FMC has guided for same market treatment growth of more than 0.5% in the U.S. in 2025.
Quarterly revenue grew 5% in constant currency terms to 4.79 billion euros, slightly above analysts' expectations, helped by savings of 58 million euros attributable to the group's FME25 transformation program.
The German group confirmed its full-year guidance, as it expects "to realize further significant operational and financial improvements" in the second half of the year, Giza said.
It also said it would initiate the first tranche of its 1 billion euro share buyback programme in August.
($1 = 0.8651 euros)
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