Filing Flows › Fresenius Medical Care AG (FMS) › Q1 2026
Fresenius Medical Care AG (FMS) Q1 2026 earnings results (first quarter 2026)
6-K filed May 5, 2026
Fresenius Medical Care AG (FMS) reported revenue of $9.2B for the first quarter 2026 (Q1 2026), -6% from a year earlier. Operating margin was 3.1%, net earnings $118M (1.3% of revenue).
Fresenius Medical Care AG, Q1 2026: revenue $9.2B (-6% year over year), operating margin 3.1%, net earnings $118M, operating cash flow $227M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.2B | — | -6% |
| Operating profit | $286M | — | -14% |
| Net earnings | $118M | — | -22% |
| Operating cash flow | $227M | — | +39% |
| Free cash flow | $37.0M | — | +118% |
What changed
Revenue was €9.2B in Q1 2026, down 6% year over year. 2 a), 12 was the largest line at 50% of revenue. 2 a), 12 lost €0.27B year over year (down 6%), 50% of the total change.
Operating profit was €0.29B, a 3.1% margin (down 0.3 points year over year). Total costs fell 5% while revenue fell 6%. Net earnings were €0.12B, down 22% year over year. The effective tax rate was 20.6%.
Operating cash flow was €0.23B (up 39% year over year), 138% of net income including minority interests. Working capital and other items added €0.06B. Capital expenditures of €0.19B left free cash flow of €0.04B.
Questions
What was Fresenius Medical Care AG's revenue in the first quarter 2026?
Fresenius Medical Care AG (FMS) reported revenue of $9.2B for the first quarter 2026 (Q1 2026), -6% from a year earlier.
Was Fresenius Medical Care AG profitable in the first quarter 2026?
Operating profit was $286M (3.1% of revenue) and net earnings $118M.