BERLIN (Reuters) -U.S.-Siemens Healthineers, a German company that makes medical devices, said Wednesday that its earnings for the third quarter went down. Rapid COVID-19 antigen tests brought in less money, and COVID-19 lockdowns in China hurt business.
According to the company, its net income fell by 8% year on year to 364 million euros ($370 million).A consensus on Healthineers’ website said that analysts had expected the number to go up to 415 million euros.
Adjusted earnings before interest and taxes (EBIT) dropped 19% to 765 million euros on sales of 5.19 billion euros, down from 5 billion euros a year ago.
Even though some sales were pushed into the next quarters because of problems in the supply chain and COVID-19 lock-downs, the company stuck to its plan for the 2022 financial year.
It said that it expected comparable revenue to grow by between 5.5% and 7.5% and that adjusted basic earnings per share would be between 2.25 and 2.35 euros.
“Headwinds in the supply chain and lockdowns due to the pandemic pushed some sales into the next quarters, and cost increases hurt profits,” CEO Bernd Montag said.
($1 = 0.9826 euros)
