Quarterly ResultMay 5, 2026, 06:13 AM
Fresenius Medical Care Q1 Adjusted Operating Income +10%; EPS +16%
AI Summary
Fresenius Medical Care reported strong adjusted operational and financial progress in Q1 2026, with organic revenue growth of 4% and adjusted operating income increasing 10% at constant currency. Adjusted EPS also rose 16%, benefiting from the completed EUR 1.0 billion share buyback program. However, reported operating income and net income declined significantly due to EUR 166 million in one-time costs related to the FME25+ transformation program. The company confirmed its full-year 2026 outlook for broadly flat revenue and mid-single digit operating income growth.
Key Highlights
- Organic revenue grew 4% at constant currency, with growth across all operating segments.
- Adjusted operating income increased 10% at constant currency to EUR 467 million, expanding margin to 10.1%.
- Adjusted earnings per share (EPS) rose 16% at constant currency to EUR 0.91, supported by share buyback.
- Reported operating income declined 14% to EUR 286 million due to EUR 166 million in FME25+ transformation costs.
- The EUR 1.0 billion share buyback program was successfully completed on April 30, repurchasing 24.8 million shares.
- Operating cash flow significantly increased 39% to EUR 227 million, with free cash flow up 94% to EUR 40 million.
- Care Delivery segment's adjusted operating income grew 26% at constant currency.
- FY 2026 outlook confirmed: broadly flat revenue and mid-single digit operating income growth.