Fresenius Medical Care reported a stronger-than-expected second-quarter profit, with net income before special items rising 13% to €303 million ($349 million), surpassing the consensus estimate of €288 million. This positive performance was primarily attributed to its dialysis services business and growth in the Care Delivery segment, which saw revenue increase by 3% in the U.S. to €2,897 million.
Despite the profit beat, investors reacted negatively to a 0.9% decline in comparable U.S. treatment volume, a steeper drop than in the previous quarter. This figure is closely watched as it directly impacts profit growth. Consequently, Fresenius Medical Care's American depositary receipts fell by as much as 3.9% in New York after the announcement, despite the company affirming its full-year outlook and progress on cost-saving initiatives.
The company's FME25+ transformation program delivered €67 million in sustainable savings during Q2, contributing to a total expected savings of €1.2 billion by the end of 2027. Fresenius also completed its 2026 U.S. dialysis clinic optimization plan by closing approximately 100 clinics, aiming for improved network efficiency and profitability in the second half of 2026. Operating income, excluding special items, saw a significant increase of 20% to €569 million, or 23% at constant currency.
