Siemens Expects Its Industrial Business To Continue Profitable Growth: Details
Portfolio Pulse from Lekha Gupta
Siemens AG (SIEGY) reported Q4 FY23 revenue of €21.4 billion, a 4% Y/Y increase, and a 7% rise in Profit Industrial Business to €3.38 billion. EPS was €2.17, down from €3.39 Y/Y. The company experienced a loss in Siemens Energy Investment but proposed a dividend increase to €4.70/share. FY24 guidance includes 4-8% comparable revenue growth and EPS pre-PPA of €10.40 to €11.00, excluding Siemens Energy Investment. Shares closed up 1.32% at $75.15.
November 16, 2023 | 10:57 am
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Siemens AG reported strong Q4 FY23 results with revenue growth and increased Profit Industrial Business. The company also proposed a dividend increase and provided positive FY24 guidance.
The positive earnings report, dividend increase, and optimistic FY24 outlook are likely to instill investor confidence and could lead to a short-term increase in the stock price. The recent 1.32% rise in share price post-earnings indicates a positive market reaction.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100