Siemens Healthineers rises on Q4 revenue beat

Original from: massdevice

Siemens Healthineers (ETR:SHL) shares ticked up today on fourth-quarter results that topped the consensus sales forecast.

The Erlangen, Germany-based company posted profits of $538 million (€466 million), or 47￠ per share, on sales of $6 billion (€5.2 billion) for the three months ended Sept. 30, 2021, for a 7.9% bottom-line gain on sales growth of 33.2%.

Adjusted to exclude one-time items, earnings per share were 61￠, 6￠ behind Wall Street, where analysts were looking for sales of $5.7 billion.

Diagnostics revenues saw the largest bump year-over-year (22.3%), even excluding $184.7 million in revenues from COVID-19 antigen tests.

“The Siemens Healthineers team successfully ended the record year 2021 with a strong quarter. We demonstrated an agile and prudent response to the pandemic,” Siemens Healthineers CEO Bernd Montag said in a news release. “We start the new fiscal year as an even more holistic and relevant healthcare company with a record order backlog, and we expect to continue our strong business development.”

Siemens Healthineers projects 2022 adjusted EPS to come in a range between $2.40 and $2.54 per share, with revenues expected to grow between 0% and 2%.

SHL shares were up 1.5% at $70.26 per share in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.2%.

Source: Siemens Healthineers rises on Q4 revenue beat