Philips Tops Q3 EPS by 1c; Offers Guidance

  • Investing.com
Philips Tops Q3 EPS by 1c; Offers Guidance
Credit: © Reuters.

Philips (PHG) reported Q3 EPS of EUR0.25, EUR0.01 better than the analyst estimate of EUR0.24. Revenue for the quarter came in at EUR4.3 billion versus the consensus estimate of EUR4.49 billion.

GUIDANCE:

Looking ahead, the company sees prolonged operational and supply challenges, a worsening macro-economic environment and continued uncertainty related to COVID-19 measures in China, which will be partly offset by Philips’ productivity and pricing actions. Consequently, Philips now expects a mid-single-digit comparable sales decline for the fourth quarter of 2022, with a high-single-to-double-digit Adjusted EBITA margin range.

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