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Fresenius Medical beats earnings expectations, keeps outlook; shares sink

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- Fresenius Medical Care beat first-quarter operating earnings expectations on Tuesday amid higher pricing and cost-cut savings, but the German company still maintained its profit outlook for 2024, sending its shares down in early trading.

"Despite a strong start, FY guidance was reiterated, which may disappoint some, given recent outperformance of the shares," Jefferies analysts said in a note to investors. Supported by its cost-cutting plan FME25, the firm saved about 52 million euros in the first quarter.

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