Fresenius Medical Care Q2 Profit Rises; On Track To Achieve Full Year Guidance

(RTTNews) - Fresenius Medical Care (FMS) reported that its second-quarter net income attributable to shareholders increased by 22% to $294 million, mainly driven by the strong performance of the North America segment. Basic earnings per share increased to $0.96 from $0.79 in the previous year's second quarter. Basic earnings per ADS was $0.48 compared to $0.40. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.49 for the quarter. Analysts' estimates typically exclude special items.

Second-quarter net revenue improved by 5% to $4.42 billion, or up 7% at constant currency, driven by very good health care services revenue growth in North America. Analysts expected revenue of $4.54 billion for the quarter. Health care services revenue increased by 7% to $3.57 billion, mainly due to organic revenue growth. Dialysis products revenue decreased by 1% to $849 million in the second quarter.

Fresenius Medical Care confirmed its full year outlook 2016. The company expects a currency-adjusted revenue growth between 7% and 10% for 2016. Net income attributable to shareholders of Fresenius Medical Care is expected to increase by 15% to 20% over the previous year.