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Fresenius Medical cuts 2026 profit outlook as US treatment decline deepens

By Reuters News

By Kira Britten

Nov 3 (Reuters) - German dialysis specialist Fresenius Medical Care FMEG.DE cut the upper end of its 2026 operating income outlook on Tuesday after US treatment volumes declined for a third consecutive quarter, as regulatory and inflation headwinds weighed on quarterly earnings.

FMC's transformation programme has improved profitability, but investors continue to monitor US treatment growth closely as the company seeks to return its largest market to growth under new CEO Shervin J. Korangy.

• The company now expects 2026 operating income to range from flat to a mid-single-digit percentage decline, compared with its previous forecast for a mid-single-digit percentage decline to a mid-single-digit increase.

• Third-quarter operating income excluding special items fell 5% to €545 million ($610 million) from €574 million a year earlier, below Vara Research consensus of €518 million.

• US same-market treatments declined 1.1%, accelerating from declines of 0.4% in the first quarter and 0.9% in the second quarter.

• The US business accounts for more than half of the company's revenue.

• Metzler analyst Victor Beyer said the decline in US same-market treatments was less severe than management had indicated, while the narrower 2026 outlook was largely expected.

• Reported earnings were hit by 108 million euros in one-off costs related to FMC's China strategy overhaul, including the discontinuation of a dialysis system and exit from peritoneal dialysis.

• Shares fell 4% shortly after market open before reversing losses to trade 1% higher at 0945 GMT.


https://www.reuters.com/graphics/FRESENIUSMEDICALCARE-RESULTS/dwpkmbmxapm/chart.png


($1 = 0.8937 euros)

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