Fresenius Medical Care AG & Co. KGaA reported a decrease in treatment volumes within its US dialysis operations for the first quarter, alongside a decline in net profit attributed to restructuring expenses, causing its stock price to fall by 5.09%.

During early European trading on Tuesday, shares of Fresenius Medical Care plunged by as much as 9.4% before paring some losses. Over the past year, the company's market value has decreased by nearly 20%.

The company indicated that its largest and most profitable dialysis services business experienced a drop in treatment volumes in the key US market last quarter.

US same-market treatment volumes declined by 0.4% year-over-year in the first quarter, compared to a nearly flat performance in the fourth quarter of the previous year.

Fresenius Medical Care had previously noted that more frequent extreme weather conditions in the US during January and February led to patients missing dialysis treatments, impacting overall volumes.

Analysts at Jefferies highlighted that the 0.4% year-over-year decline in US same-market treatment volumes deserves significant market attention.

The company stated that organic revenue from its US dialysis business grew by 7% year-over-year, while international operations also delivered solid organic growth.

Fresenius Medical Care has initiated a restructuring plan for its US operations network, planning to close up to 64 out of approximately 100 dialysis clinics.

The company cited one-time costs associated with this transformation and restructuring as the primary reason for the profit decline in the first quarter.

First-quarter net profit was €118 million (approximately $138 million), down from €151 million in the same period last year.

According to consensus estimates compiled by Vara Research, analysts had anticipated a net profit of €109 million.

Revenue decreased to €4.61 billion from €4.88 billion a year earlier. Excluding currency effects, revenue increased by 3% year-over-year, largely in line with analyst expectations of €4.59 billion.

Operating profit, excluding special items, rose by 2% to €467 million. After adjusting for currency impacts, the increase was 10%, generally meeting market consensus.

The company maintained its full-year financial guidance.