Fresenius Medical Care AG: Release of a capital market information

Fresenius Medical Care (FMS) reported Q2 2026 revenue of EUR 4,861 million, up 5% organically, and adjusted operating income of EUR 569 million (+23% at constant currency). Adjusted basic EPS was EUR 1.13 (+28% constant currency). Management reaffirmed broadly flat 2026 revenue and operating income growth, citing U.S. referral execution issues and China regulatory headwinds.

Fresenius Medical Care reported Q2 2026 operating income up 23%, helped by EUR 67m FME25+ transformation savings. U.S. same-market treatment growth fell 0.9% due to referral capture and confirmation execution issues. The company exited about 100 underperforming clinics, revised 2026 outlook including a EUR 50m TDAPA headwind and EUR 150m to EUR 200m value-based care revenue decline, and launched a second EUR 1bn buyback.

Fresenius Medical Care (NYSE:FMS) reported Q2 call highlights, including clinic closures of about 100 underperforming sites and rollout of high-volume hemodiafiltration. The company said U.S. same-market treatment growth for 2026 should stay around Q2 levels due to lower referrals. Care Delivery operating income rose 45% and FCF was EUR 625 million. It expects TDAPA to be a EUR 50 million full-year headwind and is buying back shares under a EUR 1 billion program.

Fresenius Medical Care shares fell 8.0% to about €41.29 after its Q2 2026 results. The company reported operating income excluding special items of €569 million and revenue of €4.861 billion, both above consensus, but U.S. same-market treatment volumes declined about 0.9% YoY. Analysts cited unchanged guidance and volume risk, reiterating lower price targets.

Fresenius Medical Care reported Q2 2026 organic revenue growth of 5% and operating income up 23% to a margin of 11.7%. Reported operating income rose 10%, while net income fell 3%. EPS increased 28% supported by share buybacks. The company said 227 U.S. clinics converted to its 5008X CAREsystem with 600,000+ treatments and reaffirmed its FY 2026 outlook.

The U.S. Air Force awarded Boeing a $131.23 billion contract for F-15 production, modernization, and sustainment through 2037. The contract includes options for foreign military sales to several countries. Initial funding is $343,740 for fiscal 2026. Boeing will perform the work in St. Louis. The contract does not guarantee full spending and includes no immediate jet orders.