RTTNews | Nov 2, 2021 02:25AM EDT

02:25 Tuesday, November 2, 2021 (RTTNews.com) - Fresenius Medical Care AG & Co. KGaA (FMS) said the continued and increasing presence of COVID-19 has led to a significant increase in excess mortality in the third quarter which was not included in the company's 2021 outlook. As a result, the company now expects to reach the lower end of its guidance ranges for both revenue and net income.

Third quarter net income excluding special items declined by 22% to 277 million euros, or down 21% at constant currency. Earnings per share excluding special items declined by 22% to 0.94 euros, or down 21% at constant currency.

Net income attributable to shareholders of FMC-AG & Co. KGaA was 273 million euros compared to 354 million euros, last year. Basic earnings per share was 0.93 euros compared to 1.21 euros. Basic earnings per ADS was 0.47 euros compared to 0.60 euros.

Total revenue was 4.44 billion euros, compared to 4.41 billion euros, prior year, an increase of 1% at constant currency, up 1% organic.

Based on current projections, the company confirmed its outlook for revenue to grow at a low- to mid-single digit percentage rate and net income to decline at a high-teens to mid-twenties percentage rate against the 2020 base and now projects to be at the lower end of these guidance ranges.

Read the original article on RTTNews ( https://www.rttnews.com/3238030/fresenius-medical-care-q3-adj-profit-declines-confirms-outlook-at-lower-end-of-range.aspx)

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