Siemens Healthineers Shares Tumble After Reporting Lower 3Q Earnings
03 August 2022 - 6:01PM
Dow Jones News
By Cecilia Butini
Shares in Siemens Healthineers AG fell in opening trade on
Wednesday after the company reported lower earnings and dwindling
sales from coronavirus-related products.
At 0726 GMT, shares in Siemens Healthineers traded 7.3% lower at
EUR46.08.
The German medical-equipment maker said that cost increases
burdened profits as it posted a decline in net profit, earnings
before interest and taxes as well as basic earnings per share for
the quarter ending June 30.
Revenue grew slightly in the quarter, reaching 5.19 billion
euros ($5.28 billion) from EUR5 billion the previous year, though a
markedly lower contribution from sales of Covid-19 tests drove a
decline in revenue on a comparable basis, the company said.
Nonetheless, the company backed its full-year guidance and
continues to expect comparable revenue growth of between 5.5% and
7.5%, and adjusted basic earnings per share of between EUR2.25 and
EUR2.35.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
August 03, 2022 03:46 ET (07:46 GMT)
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