Siemens Healthineers Shares Fall After Decline in 2Q Earnings, Revenue
10 Mai 2023 - 10:25AM
Dow Jones News
By Pierre Bertrand
Siemens Healthineers shares fell Wednesday after the German
healthcare company posted a decline in quarterly net profit and
revenue.
At 0751 GMT shares traded 7.1% lower to EUR52.52.
The company reported 105 million euros ($115.1 million) in net
profit attributable to shareholders for the quarter ended March 31
compared with EUR579 million a year earlier.
The company said its result was hurt by lower Covid-19 testing
revenue and by transformation costs at its diagnostics business,
which saw revenue fall by 39% in the quarter.
Overall revenue for the company fell 2% to EUR5.35 billion.
Diagnostics was the only division to miss sales-growth
expectations, with organic sales growth around 5 percentage points
below consensus, Citi analysts said in a research note. Excluding
antigen revenue, the unit's organic growth declined 1.4%.
With organic sales at the company's peers growing in the
mid-single digits, the decline is somewhat concerning, the analysts
said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
May 10, 2023 04:10 ET (08:10 GMT)
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