Published by Global Banking & Finance Review®
Posted on August 5, 2025
2 min readLast updated: January 22, 2026
Add as preferred source on GoogleFresenius Medical Care's earnings fell short due to a severe US flu season, impacting patient treatments and financial results.
(Reuters) -Dialysis specialist Fresenius Medical Care missed analysts' earnings forecasts on Tuesday, after a severe flu season in the U.S. led to higher mortality among patients and a greater number of missed treatments in the first months of 2025.
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)
(Reporting by Isabel Demetz and Patricia Weiss; editing by Milla Nissi-Prussak)
Fresenius Medical Care missed analysts' earnings forecasts due to a severe flu season in the U.S., which led to higher mortality among patients.
Despite the flu season, FMC was encouraged by strong and accelerating momentum in patient referrals, although this was offset by a higher outflow due to increased mortality rates.
FMC reported an adjusted operating income of 476 million euros ($550.2 million) for the second quarter, which was a 9% increase but still below analysts' average estimate.
FMC confirmed its full-year guidance, expecting to realize further significant operational and financial improvements in the second half of the year.
FMC plans to initiate the first tranche of its 1 billion euro share buyback program in August.
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