The Bad Homburg, Germany-based company posted profits of $303.2 million, or 99¢ per share, on sales of approximately $4.62 billion for the three months ended March 31, seeing the bottom line shrink 2.9% while sales grew 4% when compared with the same period during the previous year.
Adjusted to exclude one-time items, earnings per share were $1.16, significantly ahead of the 57¢ per share consensus on Wall Street. Analysts on Wall Street were also looking for sales of $4.49 billion, which the company also beat.
“In the first quarter we achieved healthy organic growth across all regions. All of our major initiatives are underway. We have completed the acquisition of NxStage, and started its integration process as well as an expansion of the infrastructure necessary for home dialysis. We are very well positioned to reach the investment milestones set for 2019, and to meet our full-year targets,” CEO Rice Powell said in a press release.
The company reaffirmed its guidance for the full fiscal year, expecting to see adjusted revenue growth of between 3% and 7% with adjusted net income growth of between -2% and 2%.
Shares in Fresenius have risen approximately 1.1% so far today, at $42.65 as of 12:29 p.m. EDT.
Last month, the U.S. Federal Trade Commission said that it granted a final order of approval to Fresenus for its $2 billion acquisition of NxStage Medical.
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