Siemens Healthineers today reported third-quarter financial results that included projections of more than 5% sales growth in 2024.
The company reported revenue growth of 4.3% for the quarter, delivering sales of €5.4 billion in the latest three-month period. That growth total rises to 10.1% when excluding rapid COVID-19 antigen tests.
Siemens Healthineers reported profits of €472 million, equating to earnings per share of €0.42. Adjusted to exclude one-time items, the company posted an EPS of €0.52. A higher tax rate and higher financing costs offset increased earnings contributions, Siemens Healthineers said in a news release.
The company reported strong sales growth in the Americas and EMEA, while Asia Pacific Japan rose moderately. In China, revenue declined by a low-double-digit percentage, due to temporarily delayed customer orders, the company said.
Siemens Healthineers reported 9.6% growth in its Varian business, with Imaging growing 3.8%. Diagnostics grew 2.1% and Advanced Therapies grew 0.4% year-over-year.
The company confirmed its expectations for comparable revenue growth totaling between 4.5% and 6.5% for the year. That total grows to 5% and 7% when excluding revenue from rapid COVID-19 antigen tests. Siemens Healthineers also projects adjusted earnings per share to range between €2.10 and €2.30.
“We made good progress again in the third quarter, despite ongoing order delays in China,” said CEO Bernd Montag. “Varian and Diagnostics especially contributed to the strong operating performance. We confirm our outlook for the financial year.”
