Siemens Healthineers Net Profit Rises as Order Momentum Continues

By Nina Kienle

Siemens Healthineers posted a rise in net profit in its third quarter after continued positive order momentum, and reiterated its guidance for the year.

The German healthcare company on Wednesday said it made a net profit of 469 million euros ($507.3 million) for the quarter ended June, up from EUR445 million in the same period of the prior year.

Revenue rose to EUR5.42 billion from EUR5.20 billion, despite continuing order delays in China, the company said.

Adjusted earnings before interest and taxes rose to EUR825 million from EUR758 million, while the margin expanded to 15.2% from 14.6%.

Analysts had expected net profit, revenue and operating profit at EUR460.4 million, EUR5.53 billion and EUR699.7 million, respectively, according to consensus estimates provided by Visible Alpha.

For 2024, the company stuck to its outlook, expecting comparable revenue growth of between 4.5% and 6.5%, and adjusted earnings per share of between EUR2.10 and EUR2.30.

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

July 31, 2024 01:53 ET (05:53 GMT)

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