SIEGY - Siemens turns red as solid Q4 results overshadowed by conservative guidance

Siemens ([[SIEGY]] -2.6%) slips after reporting mixed FQ4 results that included net profit rising to €1.76B ($2.07B) from €1.32B in the year-ago quarter, but providing a cautious outlook on its recovery from the pandemic.Siemens posted Q4 adjusted EBITA of €2.64B ($3.11B) in its industrial business, beating analyst forecasts for €1.98B in a company-gathered poll.Q4 revenues fell 6% Y/Y to €15.31B, missing analyst consensus forecast of €15.5B, while orders slipped 1% to €15.56B but came in above consensus of €15.48B, as the coronavirus weighed on demand.Siemens says it expects the downturn to linger and structural changes such as the auto sector's move away from diesel cars will weigh on demand.The company expects moderate revenue and earnings improvement in 2021, described as increases of 3%-5%.While Q4 was solid overall, analysts at Berenberg and Jefferies call the company's new growth guidance conservative.Siemens also said it plans to split its Intelligent Traffic Systems business

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Siemens turns red as solid Q4 results overshadowed by conservative guidance