Siemens Cautions on Outlook as Earnings Fall Short
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Siemens AG, Europe’s largest engineering company, said reaching its full-year earnings goal has become harder after reporting fiscal third-quarter profit and sales that fell short of analysts’ estimates.
It has become “clearly more ambitious” to reach the target of 5.2 billion euros ($6.31 billion) to 5.4 billion euros in net income from continuing operations, Munich-based Siemens said today. Profit on that basis climbed to 1.23 billion euros in the three months ended June 30, from 763 million euros a year earlier. The average estimate of nine analysts surveyed by Bloomberg was 1.4 billion euros.