A mix of negatives weighed on FMC’s profitability. The re-occurrence of the pandemic proved costly as the number of isolation clinics had to be re-ramped and the labour shortage resulted in higher wages. In addition, excess deaths increased despite high vaccination rates. Higher input costs were added to the mix making it a perfect storm. Consensus was slightly beaten at the top-line (+1.2%), whereas the EBIT line came in slightly above (+1.8%) street expectations.