Fresenius Medical Care reported a 23% increase in operating income at constant currency for the second quarter of 2026, driven by strong performance in Care Delivery and value-based care. Organic group revenue grew 5%, supported by all three operating segments, while the operating margin expanded by 180 basis points. The company completed its initial EUR 1 billion share buyback program and launched a second EUR 1 billion program, maintaining a net leverage ratio of 2.6x. U.S. same-market treatment growth declined 0.9% due to an operational miss in capturing referrals, prompting an organizational change and a revised full-year expectation around the Q2 level. The 5008X hemodialysis machine rollout accelerated, with 227 clinics converted across 23 states, representing 10% of the company's U.S. machine base. Full-year guidance was confirmed, with operating income expected to remain at a consistently elevated level and a mid-single-digit percentage change range.
Fresenius Medical Care AG & Co. KGaAQ2 operating income rose 23% at constant currency, margin expanded, and a second EUR 1 billion buyback was launched.
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