Fresenius Medical cuts outlook on slower recovery, rising costs By Reuters

BERLIN (Reuters) – Kidney dialysis provider Fresenius Medical Care (NYSE:) (FMC (NYSE:)) 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.

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