Report
Michael Waterhouse
EUR 101.80 For Business Accounts Only

Fresenius’ Underlying Performance Stable Despite Currency and Natural Disaster Headwinds

Negative currency effects and natural disasters in the U.S. weighed on Fresenius Medical Care’s third-quarter results of 3% revenue and 2% net income growth, but excluding these temporary issues, performance mostly tracked our expectations. Year-end performance should fall short of management’s unchanged year-end outlook, which excludes the negative effect of these items. We’re leaving our fair value estimate and narrow-moat rating unchanged. Fresenius’ results continue to show less exposure to ...
Underlying
FRESENIUS MEDICAL CARE AG

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.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Michael Waterhouse

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