Siemens reports revenue, profit gains in Q2

Siemens Healthineers recorded 5.435 billion euros ($5.85 billion U.S.) in revenues for its fiscal second quarter, up 1.7% and up 3% on a comparable basis from the 5.346 billion euros ($5.75 billion) received in the second quarter of 2024. For the period (end-March 31), the company had 431 million euros ($463.9 million) in quarterly net income, compared with 108 million euros ($116.2 million) posted in the 2023 fiscal second quarter.

Siemens' Imaging segment had a total adjusted revenue of 2.956 billion euros ($3.181 billion), up 1.4% and up 2.6% on a comparable basis from the 2.915 billion euros ($3.137 billion) generated in the same period a year ago. The company highlighted the contributions of its molecular imaging and MRI operations as growth drivers during the quarter; molecular imaging had very strong growth and MRI provided strong growth, according to Siemens.

On a regional basis, the Imaging segment noted very strong comparable growth in the Europe, Middle East, and Africa (EMEA) region, followed by strong comparable growth in the Americas region and moderate growth in the Asia Pacific Japan region, according to Siemens. Second-quarter revenue dipped in China, however, by a low-double-digit percentage, affected by temporarily delayed customer orders in preceding quarters and also an "outstanding" prior-year quarter, the company said.

The segment had adjusted earnings before interest and taxes (EBIT) of 598 million euros ($643.5 million), down 5% from the 628 million euros ($675.9 million) reported last year.

Meanwhile, the firm's Varian radiation therapy segment had a total adjusted revenue of 910 million euros ($979.2 million), down 2.5% and down 2.1% on a comparable basis from the 934 million euros ($1.005 billion) recorded in the second quarter of 2023. It had an adjusted EBIT of 149 million euros ($160.3 million), up from 135 million euros ($145.3 million) a year ago.

Siemens said that it's on track to meet its fiscal year targets for 2024.

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