Fresenius Lowers 2022 Outlook on Fresenius Medical Care Warning
28 Juli 2022 - 8:33AM
Dow Jones News
By Sarah Sloat
German health care company Fresenius SE lowered its 2022 outlook
late Wednesday after Fresenius Medical Care AG was hit by U.S.
labor shortages and inflation in the second quarter and cut its
guidance.
Fresenius now expects sales growth in a low-to-mid single-digit
percentage range, compared with a previous forecast for the
mid-single digit range. Net income should fall in a low-to-mid
single-digit percentage range, compared with a previous forecast
for an increase in a low-single-digit percentage range.
Dialysis care company Fresenius Medical Care, in which Fresenius
holds about 32%, cut its 2022 outlook and withdrew its 2025
targets.
In the second quarter, revenue grew about 1% and after-tax
income excluding extraordinary items fell about 7%.
In 2022, net income is expected to fall in a high-teens
percentage range, compared with previous guidance for growth in a
low-to-mid single-digit percentage range. Fresenius Medical Care
expects revenue to grow at the low end of the low-to-mid
single-digit percentage range previously forecast.
The company expects most challenges to be temporary but due to
the labor situation and inflationary environment and the
substantially reduced earnings base it no longer expects to be able
to reach its 2025 targets.
Write to Sarah Sloat at sarah.sloat@wsj.com
(END) Dow Jones Newswires
July 28, 2022 02:18 ET (06:18 GMT)
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