Fresenius Medical Care’s 2Q Performance Remains on Track Despite Weaker-Than-Expected Profitability
Fresenius Medical Care reported second-quarter results mostly in line with our expectations. Management left its year-end outlook unchanged as the 9% constant-currency growth during this quarter keeps the company's top-line performance on a stable trajectory. Operating margin declined a bit more than we anticipated to 13% from 14.2% last year. Regardless, we don't anticipate a material change in our fair value estimate as we make a few adjustments to our model. We’re also leaving our narrow-moat...RegistrarFresenius Medical Care is a kidney dialysis company, operating in both the field of dialysis services and the field of dialysis products for the treatment of end-stage renal disease (ESRD). Co.'s dialysis business is vertically integrated, providing dialysis treatment at dialysis clinics it owns or operates and supplying these clinics with a range of products. In addition, Co. sells dialysis products to other dialysis service providers. In the U.S.A., Co. also provides inpatient dialysis services and other services under contract to hospitals. Co. provides patient services, including renal pharmaceutical products and in the U.S.A., laboratory services.
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