Fresenius Medical Care Corporation
- Fresenius Medical Care increased 0.4% to €27.71 after the dialysis service provider lifted its annual outlook.
Revenue in the third quarter declined 3% to €4.9 billion from €5.03 billion, net income fell to €84 million from €230 million, and net income dropped to 29 cents from 7 cents a year ago.
The company reiterated its 2023 revenue to grow at a low to mid-single-digit percentage rate from €19.4 billion in 2022.
The company raised its 2023 operating earnings to grow at a low single-digit percentage rate from €1.54 billion in 2022, from the previous outlook of flat to a decline in the low single-digit percentage rate.
The German company also said it had resolved its legal dispute with the U.S. Department of Defense and finalized its settlement for payment of dialysis services provided under the Tricare program to members of military service, their dependents, and retirees.
The company sought to receive payment for services provided under the Tricare program on or before January 11, 2023.
As a consequence of the settlement agreement, Fresenius anticipates a positive impact on operating income of €175 million in the fourth quarter.
Nov 22, 2023
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