Shares in Fresenius Medical Care (NYSE:FMS; ETR:FRE) have fallen slightly today after the dialysis-focused medical device company missed sales expectations on Wall Street with its 3rd quarter earnings results, despite topping EPS results.
The Bad Homburg, Germany-based company posted profits of $359.9 million, or $1.18 per share, on sales of $5.1 billion for the 3 months ended September 30, for bottom-line growth of 1.6% while sales grew 3% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were 58¢, just ahead of the 56¢ per share consensus on Wall Street, while sales fell short of the $5.2 billion expectations on The Street.
“This was a very challenging quarter for many of our patients and employees in North America. Thanks to the spirit and commitment of our employees, we were able to provide dialysis to patients under extreme circumstances in the disaster areas. I am very proud of what our team has achieved in helping both patients and employees. We delivered a solid quarter despite the effects from several natural disasters,” CEO Rice Powell said in a press release.
Fresenius confirmed its outlook for its fiscal year 2017, expecting to see revenue growth between 8% and 10% with net income attributable to shareholders between 7% and 9% over the previous year.
Shares in Fresenius have fallen 0.9% so far today, at $48.08 as of 10:08 a.m. EDT.