Siemens Healthineers Profit Rises on Revenue Growth
By Adria Calatayud
Siemens Healthineers reported a rise in net profit for the first quarter of fiscal 2024, helped by higher sales driven by growth in its Varian radiation-oncology business.
Net profit for the quarter to December amounted to 431 million euros ($466.3 million) compared with EUR421 million in the same period a year before, the German healthcare-equipment company said.
Revenue rose to EUR5.18 billion from EUR5.08 billion. Revenue was up 5.7% on a comparable basis, with rises in Varian and the company's imaging and advanced-therapies segments offsetting a drop in diagnostics sales.
Adjusted earnings before interest and taxes grew to EUR742 million from EUR685 million, while the margin expanded to 14.3% from 13.5%.
Analysts had expected Siemens Healthineers to report a net profit of EUR395 million, adjusted EBIT of EUR742 million and revenue of EUR5.11 billion, according to consensus estimates provided by the company.
The company reiterated its guidance for the year ending in September.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
February 01, 2024 01:16 ET (06:16 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
These Stocks Are (Still) Powering the Bull Market
-
5 Undervalued Energy Stocks to Play the AI Data Center Demand Boom
-
After Earnings, Is Lowe’s Stock a Buy, Sell, or Fairly Valued?
-
5 Stocks With the Largest Fair Value Estimate Cuts After Q1 Earnings
-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
3 Dividend Stocks for June 2024
-
After Earnings, Is Alibaba Stock a Buy, Sell, or Fairly Valued?
-
MongoDB Earnings: Slashing Valuation as Execution and Macro to Blame for Lower Guidance
-
Marvell Earnings: We Raise Our Medium-Term AI Forecast and Bring Our Valuation Up to $75
-
Zscaler Earnings: Impressive Traction in Emerging Products Drives Sales Growth for the Quarter
-
Dell Earnings: Raising Valuation on Strong AI, but the Stock Remains Severely Overvalued
-
After Earnings, Is Nvidia Stock a Buy, Sell, or Fairly Valued?
-
The 10 Best Companies to Invest in Now