Philips Expects Mid-Single-Digit Comparable Sales Growth And Upper End Of The High-Single-Digit Adjusted EBITA Margin In FY23
Portfolio Pulse from Benzinga Newsdesk
Philips has revised its FY23 expectations to mid-single-digit comparable sales growth and an adjusted EBITA margin at the upper end of the high-single-digit range. This is due to improved performance in H1, a solid order book, and ongoing actions to improve execution. The outlook excludes the impact of ongoing litigation and a US Department of Justice investigation related to the Respironics field action.
July 24, 2023 | 5:41 am
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Philips has revised its FY23 outlook upwards due to improved performance and a solid order book. However, ongoing litigation and a US Department of Justice investigation could pose risks.
The revised outlook indicates that Philips is performing well and has a solid order book, which could lead to an increase in its stock price. However, the ongoing litigation and DOJ investigation could pose risks and create uncertainty, potentially limiting the stock's upside.
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