Siemens Healthineers Q3 earnings fall, outlook confirmed
Reuters
Published Aug 03, 2022 06:18
Updated Aug 03, 2022 06:36
BERLIN (Reuters) -U.S.-German medical device maker Siemens Healthineers reported a dip in its third-quarter earnings on Wednesday, as revenue from rapid COVID-19 antigen tests dropped and COVID-19 lockdowns in China took their toll on business.
Net income fell 8% year on year to 364 million euros ($370 million), the company said. Analysts had expected a rise to 415 million euros, according to a consensus published on Healthineers' website.
Adjusted earnings before interest and tax (EBIT) dropped 19% to 765 million euros on revenues of 5.19 billion euros, compared to 5 billion euros a year ago.
The company stuck with its outlook for the 2022 financial year as supply-chain headwinds and COVID-19 lock-downs pushed some sales into next quarters.
It said it expected comparable revenue growth of between 5.5% and 7.5% and adjusted basic earnings per share of between 2.25 euros and 2.35 euros.
"Supply-chain headwinds and pandemic-related lockdowns pushed out some sales into the next quarters, and cost increases burdened profits," Chief Executive Bernd Montag said.
($1 = 0.9826 euros)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.