Siemens Launches €6 Billion Buyback as Orders Rise Despite Profit Miss
Siemens reported second-quarter profit below forecasts while orders surged, and said it would repurchase as much as €6 billion of shares over as long as five years. Orders rose to €24.11 billion, above the €22.6 billion estimate, as bookings across the company’s key divisions increased despite a demanding environment.
Revenue was €19.76 billion, below the €20.07 billion estimate, and net income fell 8.3% from a year earlier to €2.24 billion. Industrial business profit was €2.97 billion versus an estimated €3.05 billion, with a 15.4% margin against a 15.7% expectation. Siemens maintained its full-year outlook for comparable revenue growth of 6% to 8% and EPS pre PPA of €10.70 to €11.10.
From the sources (4 posts)
@firstsquawkSiemens Q2 26 Earnings: - Revenue: €19.76B (est €20.07B) - Orders: €24.11B (est €22.6B) - Net Income: €2.24B, -8.3% Y/Y - Industrial Business Profit: €2.97B (est €3.05B) - Industrial Business Margin: 15.4% (est 15.7%) - EBITDA: €206.1M - S
@businessSiemens will repurchase as much as €6 billion of shares after orders across the company’s key divisions climbed against a demanding environment
@cnbcEuropean markets to open higher as focus returns to earnings; Siemens unveils $7 billion buyback
@reutersbizSiemens Q2 profit misses forecasts, orders surge