The world's largest dialysis provider posted operating income excluding special items of €569 million for the three months ended June 30, above a consensus forecast of €515 million. Revenue rose to €4.86 billion, edging past estimates of €4.79 billion, while basic earnings per share of €0.81 beat the €0.68 consensus.
Fresenius reaffirmed guidance for revenue growth to be "broadly flat" in 2026 and operating income to grow within "a range between a positive and negative mid-single digit percent growth rate".
The company said operating income growth in the first half "was in line with our planned phasing for the full year".
This points to management's expectation that a temporary Medicare payment boost for certain new drugs and equipment, known as TDAPA, which has flattered profits so far this year, will taper off and start working against earnings in the second half.
