2023-10-23 01:04:59 ET
- Philips ( NYSE: PHG ) has raised its FY23 outlook and reported Q3 results .
- Q3 Non-GAAP EPS of €0.33.
- Revenue of €4.47B (+4.0% Y/Y).
- Comparable sales increased by 11%, driven by growth in all business segments.
- Adjusted EBITA increased to €457 million and the margin improved to 10.2%, compared to 4.8% in Q3 2022.
- Comparable order intake was -9% compared to Q3 2022; order book remains strong
- Operating cash flow improved to €489 million, compared to an outflow of €180 million in Q3 2022
- Restructuring and productivity plans on track with total savings of EUR 258 million in the quarter.
- Outlook for full-year 2023 raised to 6-7% comparable sales growth and an Adjusted EBITA margin of 10-11%
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Philips Non-GAAP EPS of €0.33, revenue of €4.47B; raises FY23 outlook