SIEGY - Siemens crushes Q3 expectations raises guidance on broad demand increase

Siemens (OTCPK:SIEGY) powers ~3% higher in Europe after reporting stronger FQ3 profits and revenues while raising its full-year guidance for the third time this year. Q3 net profit attributable to shareholders jumped to €1.35B (~$1.6B) from €539M in the year-earlier quarter, beating the €948M consensus of analyst forecasts gathered by the company. Siemens says Q3 revenues rose 24% Y/Y to €16.1B from €12.98B a year ago, beating forecasts for €15.11B, led by double-digit growth in the Healthineers subsidiary as well as its digital industries and smart infrastructure units. Orders jumped 47% to €20.49B from €3.91B a year earlier and ahead of forecasts for €16.32B. In Siemens' core industrial business, adjusted EBITDA climbed 29% to €2.32B, beating expectations for €2.09B, while adjusted EBITDA margin for the business rose to 15.3%. As a result of the strong showing, Siemens raised its full-year profit guidance again, following previous increases in February and May.

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Siemens crushes Q3 expectations, raises guidance on broad demand increase