Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

Fresenius Medical cuts outlook on slower recovery, rising costs

Published : , on

BERLIN (Reuters) -Kidney dialysis provider Fresenius Medical Care (FMC) on Sunday revised down its forecast for 2022, expecting net income to decline this year, dragged down by rising labour costs and a slower than expected recovery in North America business.

The company now expects net income to decline in the high-teens to mid-20s percentage range this year, down from its previous outlook of a high-teens percentage drop. It still expects revenue to grow at a low single digit percentage rate.

FMC said net income dropped 16% in third quarter to 230 million euros ($229.15 million) while operating income fell by 7% to 472 million euros in the quarter.

“As expected, inflationary developments persisted and weighed on our earnings,” FMC finance chief Helen Giza said in a statement.

The company has been facing staff shortages, high turnover rates and higher costs in the united states, it said, adding that it expects its North America business to improve in 2023.

It said the decline in its U.S. patients numbers due to COVID-19 mortality was within expectations, adding that some 24,600 patients have died since the start of the pandemic.

Revenue rose by 15% in the third quarter to 5.1 billion euros while basic earnings per share (EPS) dropped 16% to 0.78 euros, above Refinitiv’s analysts expectations of a 1.4% revenue jump and 0.74 EPS.

($1 = 1.0037 euros)

(Reporting by Riham Alkousaa;Editing by Alison Williams and Angus MacSwan)

 

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post