Siemens Shares Jump as Order Intake Soars
2022年2月10日 - 6:20PM
Dow Jones News
By Ed Frankl
Shares in Siemens rose sharply Thursday after its first-quarter
revenue and profit rose on expectations-busting orders.
At 0830 GMT, shares were up 6.7% at EUR147.46.
Revenue in the three months to December was 16.50 billion euros
($18.85 billion), up from EUR14.07 in the same period last year, on
orders that climbed 42% on a comparable basis to EUR24.21 billion,
the industrial conglomerate said.
That made for a book-to-bill ratio of 1.47, which Siemens called
"an extraordinarily high level".
Analysts had anticipated revenue at EUR15.95 billion and orders
at EUR18.03 billion, according to consensus forecasts provided by
the company.
"We had a very successful start into fiscal 2022. All our
businesses continued their high-value growth," Chief Executive
Roland Busch said.
Profit of EUR2.46 billion at the Munich-based company's
industrial business rose 12% and also beat analysts' estimates of
EUR2.27 billion, with a healthy 15.7% margin that topped views of
15%. The company also confirmed its 2022 full-year outlook.
However, despite a strong beat on orders and margins, the
unchanged outlook could be seen as conservative, analysts at Citi
said. Market expectations could now be for a guidance raise with
second-quarter earnings, they added.
Speaking to the media, Siemens's Chief Financial Officer Ralf P.
Thomas said after a successful first quarter, the company had the
potential to reach or exceed the upper end of its 2022 EPS target
range of EUR8.70 to EUR9.10.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
February 10, 2022 04:05 ET (09:05 GMT)
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