Fresenius (NYSE:FMS) shares have stayed steady today after the company released third quarter earnings that saw profits and sales shrink compared to the previous year.
The Bad Homburg, Germany-based company posted profits of $322.6 million (EU €285 million), or $1.05 per share (EU €0.93), on sales of approximately $4.6 billion (EU €4.1 billion) for the three months ended September 30, seeing profits shrink 7.8% while sales shrunk 6.4% compared with the same period during the previous year.
“Our third quarter was affected by several developments whose combined impact on our results was greater than expected. Growth did not accelerate to the extent previously projected. We anticipate the impact from the current level of growth and less acquisitions to continue in the fourth quarter. We have identified countermeasures and have begun implementation. Fresenius Medical Care’s growth will continue,” CEO Rice Powell said in a press release.
Fresenius released upcoming guidance for the remaining fiscal year, expecting to see revenue growth of between 2% and 3%, or 11% to 12% at a constant currency basis.
Shares in Fresenius have risen 0.2% so far today, at $39.22 as of 10:52 a.m. EDT.
Earlier today, NxStage Medical (NSDQ:NXTM) once more delayed its pending $2 billion merger with Fresenius as the U.S. Federal Trade Commission continues to examine the deal.
The post Fresenius posts shrinking sales, profits in Q3 appeared first on MassDevice.
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