Siemens Posts Q3 Revenues Growth, Industrial Business Profit Dips Y/Y, Reaffirms FY23 Outlook
Portfolio Pulse from Lekha Gupta
Siemens AG reported Q3 FY23 revenue growth of 6% Y/Y to €18.9 billion, missing the consensus estimate of €19.27 billion. Orders rose 10% Y/Y to €24.2 billion, beating the consensus. Profit Industrial Business fell 4% Y/Y to €2.75 billion, missing the consensus of €2.90 billion. Siemens reiterated FY23 guidance of comparable revenue growth at 9% to 11% and a book-to-bill ratio above 1. SIEGY shares closed at $80.27 on Wednesday.
August 10, 2023 | 1:24 pm
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Siemens reported Q3 FY23 revenue growth of 6% Y/Y, missing estimates. However, orders rose 10% Y/Y, beating consensus. The company reaffirmed its FY23 outlook.
Siemens' Q3 FY23 revenue growth missed estimates, which could negatively impact the stock. However, the company beat order estimates and reaffirmed its FY23 outlook, which could offset the negative impact.
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IMPORTANCE 80
RELEVANCE 100