Siemens AG (OTC: SIEGY) reported third-quarter FY22 revenue growth of 11% year-on-year to €17.9 billion. Orders rose 7% Y/Y to €22 billion.
Orders increased 1%, and revenue rose 4% on a comparable basis.
Profit Industrial Business increased 27% Y/Y, to €2.9 billion, and the corresponding profit margin excluding severance came in at 17.4% (Q2 2021: 15.1%).
Basic EPS loss was €(2.06), and EPS loss before purchase price allocation accounting was €(1.85).
Siemens generated €2.3 billion in free cash flow.
At the beginning of Q4 FY22, Siemens closed the sales of its stake in Valeo Siemens eAutomotive GmbH (Valeo Siemens) and the mail and parcel-handling business of Siemens Logistics, respectively.
Outlook: For FY22, Siemens continues to see 6% - 8% comparable revenue growth, net of currency translation and portfolio effects, and a book-to-bill ratio above 1.
Siemens currently sees EPS pre PPA of €5.33 - €5.73, including the impact from non-cash impairment of stake in Siemens Energy AG of €3.37. The company's original guidance for EPS pre PPA was €8.70 - €9.10, excluding the impairment.
Price Action: SIEGY shares traded higher by 0.98% at $56.92 on the last check Thursday.
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