Siemens Healthineers (XETRA: SHL.DE) is standing by its 4.5–6.5% growth projections for the year, even as it faces some headwinds in China.
The Erlangen, Germany–based medtech giant earned €431 million (U.S. $466 million), or €0.38 ($0.41) per share, off of €5.435 billion ($5.88 billion) in revenue for the second quarter ended March 31, 2024. Profits nearly quadrupled and revenue ticked up 1.7% compared to the same quarter a year ago.
Adjusted to exclude one-time items, Siemens Healthineers’ EPS was €0.55, equivalent to $0.59. According to Yahoo! Finance, analysts expected quarterly earnings of $0.52 and revenue of $5.46 billion.
Siemens Healthineers noted that its business around China declined by a low double-digit percentage due to temporarily delayed customer orders in preceding quarters, and relative to an outstanding prior-year quarter.
Overall, CEO Bernd Montag was positive about the results. The company is sticking with its full-year outlook of 4.5–6.5% revenue growth (between 5.0% and 7.0% excluding revenue from rapid COVID-19 antigen tests) and adjusted EPS etween €2.10 and €2.30 ($2.27 and $2.49).
“The Healthineers team has continued its successful growth trajectory, even relative to an excellent prior-year quarter,” Montag said in a news release. “After an overall strong first half of the year, we are once again well on our way to achieving our targets for the financial year.”
