Fresenius Medical Care (NYSE:FMS) shares rose today on second-quarter results that topped the consensus forecast.
The Bad Homburg v. d. Höhe, Germany-based dialysis company posted profits of $150.3 million (€147 million), or 51¢ (€0.50) per share, on sales of $4.9 (€4.75 billion) billion for the three months ended June 30, 2022, for a 32.9% bottom-line slide on sales growth of 10.1%.
Adjusted to exclude one-time items, earnings per share were 78¢ (€0.77), 34¢ ahead of Wall Street, where analysts were looking for sales of $4.7 billion.
Headwinds from labor issues and inflation harmed the company’s results, according to a news release, with “meaningfully higher than assumed wage inflation, surcharges, retention payments and additional costs for contract labor to contain the increasing staff shortages.”
The company said that, despite additional investments in labor, staff shortages and turnover rates remain on the rise, affecting se…