After beating second-quarter sales forecasts, Siemens (SIEGn.DE) boosted its full-year revenue and profit guidance on Wednesday.
The train and industrial software provider now predicts comparable sales growth of 9% to 11% in the 12 months to September, up from 7% to 10%.
Siemens anticipates its underlying basic earnings per share to rise from 9.60 euros to 9.90 euros from 8.90 euros to 9.40 euros in February.
A partial charge reversal will likely boost EPS to 11.61 to 11.91 euros.
In February, the company upped its full-year projection, citing solid demand and its large order backlog, which rose to 105 billion euros ($115.58 billion) in the second quarter.
Siemens upped guidance after Q2 revenue rose 14% to 19.42 billion euros. A company’s consensus expectation was 18.59 billion euros.
Industrial profit grew 47% to 2.61 billion euros in the three months to March, missing expectations of 2.70 billion euros.
“Siemens continues its outstanding performance, delivering several records, including impressive margin increases and all-time highs in profit for Digital Industries and Smart Infrastructure, as well as another record in order backlog,” stated CEO Roland Busch.
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