Siemens sees profits, sales shrink in Q3 earnings release

Siemens (NYSE:SI) today posted third quarter fiscal year 2018 earnings that saw profits and sales shrinking compared to the same period in 2017. The Munich, Germany-based company posted profits of $1.4 billion (EU €1.2 billion), or $1.55 per share (EU €1.34 per share), on sales of $23.7 billion (EU €20.4 billion) for the three months ended June 30, seeing profits shrink 12.5% while sales shrunk 4% when compared with the same period last year. “Our global team delivered a strong quarter, highlighted by outstanding order intake, outperforming the market. We diligently address our opportunities and challenges going forward,” prez & CEO Joe Kaeser said in a press release. Siemens reiterated its existing EPS outlook for the year, expecting to post between $8.92 and $9.27 (EU €7.70 to €8.00) with a profit margin of between 11% and 12%. Shares in Siemens fell 4.7% today, closing at $114.20. In June, Siemens Healthineers said it won FDA clearance for its Biograph Vision positron emission tomography and computed tomography system. The post Siemens sees profits, sales shrink in Q3 earnings release appeared first on MassDevice.
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News MassDevice Earnings Roundup Wall Street Beat Siemens Source Type: news