Fresenius lifts 2026 expectations after strong Q3

By Reuters News

By Tristan Veyet, Kira Britten and Patricia Weiss

- Healthcare group Fresenius FREn.DE lifted its full-year expectations on Wednesday after reporting higher-than-anticipated third-quarter results, as strong performance at the Kabi and Helios divisions supported earnings.

The company now expects an earnings before interest and tax (EBIT) margin above 11.5%, compared with around 11.5% previously, and 2026 constant-currency core earnings per share (EPS) growth in the upper end of its 10%-15% range.

The latest guidance upgrade is Fresenius' second this year, after raising its core EPS target in August, as it seeks to improve profitability and reduce debt under CEO Michael Sen's turnaround strategy.

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For the third quarter, Fresenius posted earnings before interests and taxes, and special items, of €638 million ($716 million), above the €618.5 million consensus compiled by Vara Research.

Fresenius Kabi generated €391 million in quarterly EBIT, slightly above the €388 million Vara Research consensus and representing more than 60% of the group total, as Kabi plays a growing role in Fresenius' strategy, particularly through its expanding biopharma business.

Hospital operator Helios also beat expectations, reporting EBIT of €293 million in the quarter, 6% above the Vara Research consensus of €277 million, helped by efficiency measures and improving profitability in Germany and Spain.

Fresenius' results contrast those of former unit Fresenius Medical Care FMEG.DE, in which it still owns a 25% stake, after the dialysis specialist cut its operating income outlook following a third consecutive quarterly decline in US treatment volumes.


($1 = 0.8905 euros)

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