Tue, Mar. 31, 7:23 AM
- Siemens (OTCPK:SIEGY) will confirm its full-year forecasts when it reports quarterly results in May, a senior company source told Reuters.
- "Business is running exceptionally stably, according to plan," the source said.
- The person also added that Siemens saw no prospect of having to write down U.S. oilfield equipment maker Dresser-Rand (NYSE:DRC) (which it agreed to buy for $7.6B) despite the steep drop in oil prices since the deal was struck last year.
Fri, Feb. 27, 6:12 PM
- Dresser-Rand (NYSE:DRC) says it will cut 8% of its global workforce, or ~650 jobs, because of the weak oil price environment, "taking appropriate measures to continue its emphasis on operating earnings growth, even in what is expected to be a relatively stable year in sales in 2015."
- DRC says the cutbacks are in response to ongoing market conditions and not in anticipation of its merger with Siemens (OTCPK:SIEGY).
- In its Q4 earnings report, DRC says results were hurt by several events - including the cost of the merger transaction, the price of oil and the movement in several non-U.S. dollar based trade currencies - that it believes masks an otherwise a strong operating performance.
Nov. 13, 2014, 7:16 AM
- Rolls-Royce (OTCPK:RYCEY) expects to complete the sale of its energy gas turbine business to Siemens (OTCPK:SIEGY) by the end of the year, paving the way for a £1B ($1.58B) share repurchase.
- The company also affirmed its full-year earnings guidance which it had lowered last month when it announced a major cost cutting drive to boost profitability.
- Previously: Siemens unveils overhaul, confirms $1.3B deal for Rolls-Royce energy business
Jul. 31, 2014, 12:45 PM
- Siemens (OTCPK:SIEGY -0.2%) reports FQ3 net profit of €1.37B ($1.84B), up 28% Y/Y, but revenue declined 3.7% to €17.92B from €18.61B and order intake fell 3.5% to €19.41B.
- Profit jumped 51% Y/Y to €548M at Siemens' industry and infrastructure divisions for factory equipment and trains, but energy profit fell 5.8% to €405M, and CEO Joe Kaeser warns that the energy business faces challenges as global conflicts increasingly threaten expansion plans.
- The infrastructure and cities sector reported a €350M profit after a €23M loss in the year-ago quarter.
- Recorded €155M in charges for delays to power transmissions projects, adding to more than €1.1B in such costs since 2011 and €350M for late train deliveries.
- Affirmed earlier guidance for the fiscal year ending in September, and said it continues to expect EPS to increase at least 15%.
May 7, 2014, 9:15 AM
- Siemens (SI) +2.2% premarket after reporting what it calls a "mixed" FQ2 earnings performance, as net profit rose 11% Y/Y to €1.12B ($1.6B), citing its efficiency program and higher earnings from its infrastructure, health care and manufacturing equipment divisions.
- But new orders fell 13% to €18.43B vs. the year-ago period which was boosted by large wind turbine and train contracts.
- Revenues fell 1.9% because of unfavorable exchange rates and a lower volume of large orders.
- Reaffirms FY 2014 guidance for an EPS increase of at least 15% from €5.08 last year and revenues of at least at FY 2013 levels (€75.9B).
- Results "showed that we still have a lot to do to improve our operating performance," CEO Joe Kaeser says, and he's hoping the sweeping restructuring announced yesterday will do the job.
Jan. 28, 2014, 2:13 AM
- Siemens' (SI) FQ1 net profit climbed 20% to €1.46B ($1.99B) after the year-earlier figure was dragged down by special charges.
- Revenue dropped 3% to €17.325B.
- Income from continuing operations +21% to to €1.39B, topping forecasts of €1.33B.
- Total sectors profit +15% to €1.79B, "highlighted by a strong performance in Infrastructure & Cities." Consensus was for €1.86B.
- New orders at continuing operations rose 9% to €20.83B, due mainly to large contracts for trains and wind turbines.
- Siemens reiterates that it expects growth of 15% in 2014 EPS.
- Development and demand in emerging markets were still "pretty strong" despite a 4% fall in sales in those regions, CEO Joe Kaeser says, adding that he wouldn't be too surprised if there was to be "an uptick in China's economy" soon. (PR)
- Siemens intends to delist its American Depositary Receipts from the New York Stock Exchange in order to cut costs and lower the complexity of its financial reporting. (PR)
Dec. 5, 2013, 7:06 AM
- Siemens (SI) expects profit margins at its struggling infrastructure and cities (I&C) division to rise to about 7% of sales this FY from 1.6% a year earlier.
- The improvement in the performance of the business is due to restructuring and a clearer focus on high-margin contracts.
- There has been much speculation that newish CEO Joe Kaeser could restructure or even break up the I&C amid a series of setbacks, such as a two-year delay to the delivery of high-speed trains to Germany's national railway company.
Nov. 7, 2013, 2:33 AM
- Siemens' (SI) FQ4 income from continuing operations fell 13% to €1.08B but topped forecasts of €997M.
- Net profit fell 10.1% to €1.07B. FY EPS +7.2% to €5.08.
- FQ4 revenue slipped 1.3% to €21.2B.
- Operating profit from Siemens' four main businesses - Industry, Energy, Healthcare and Infrastructure & Cities - slumped 17% to €1.61B.
- Excluding currency effects, incoming orders rose 3%.
- Took €688M charge related to its €6B savings program.
- Siemens expects its FY 2014 EPS to rise 15%, although analysts forecast growth of 31%.
- Intends to buy back up to €4B of stock over the next two years.
- Declares dividend of €3 a share for last FY.
- Siemens' results come after it said yesterday that it has agreed to sell part of its water-technologies division to private-equity firm AEA Investors for €640M. (PR)
Jul. 31, 2013, 7:59 AM
- Siemens' (SI) FQ3 net income +43% to €1.1B, boosted by a positive profit contribution from discontinued operations, particularly Osram, which has been spun off.
- Revenue -2% to €19.25B.
- Orders +19% to €21.1B.
- Order backlog reaches a new record of €102B; book-to-bill ratio 1.1.
- Sectors profit fell primarily due to Q3 charges of €436M for the "Siemens 2014" productivity improvement program.
- Income from continuing -13% to €1B.
- Basic net EPS rises to €1.27 from €0.85 a year earlier.
- Free cash flow from continuing ops increases to €973M from €899M.
- For FY 2013, Siemens expects: income from continuing ops of €4B, including the solar business and NSN; moderate organic revenue decline, order growth; charges of €1B for Siemens 2014 program. (previous) (PR)
Jul. 31, 2013, 7:20 AM
- As expected, Siemens (SI) has fired CEO Peter Loescher after six years in the job and four years before the end of his contract, and replaced him with CFO Joe Kaeser.
- Loescher has paid for a string of missed-earnings targets, bungled acquisitions, as well as an expensive and ill-fated green-energy strategy.
- Siemens' FQ3 total sectors profit - operating profit for its four main businesses - slumps 31% to €1.26B vs consensus of €1.41B. (PR)
May 2, 2013, 5:37 AMSiemens' (SI) FQ2 net income from continuing operations of €982M (+0.4% Y/Y) misses estimates . Revenue falls 6.7%, coming in at €18B. The company cuts its full year guidance, saying net income will be in the low end of its range (€4.5-5B) — a weak economic environment and charges associated with ill-fated solar and wind projects were cited as reasons for the lowered profit projections.
Jan. 23, 2013, 3:28 AMMore on Siemens (SI) FQ1: order intake -3.3% to €19.1B vs consensus of €18.9B. Forecasts that FY profit will drop to €4.5-5B from €5.18B last year, due to €1B of costs from €6B savings program. Profit across four core business sectors +4.4% to €1.7B: energy +12%, healthcare +38%, industry -10%, infrastructure & cities -36%. However, warns of weak industrial demand while solar-energy unit loses €150M. Shareholders due to vote today on spinning off Osram. Shares -1% in Frankfurt. | Comment!
Jan. 23, 2013, 3:03 AMSiemens (SI): FQ1 net income from continuing operations -1.4% to €1.3B, as reported in the press, and vs consensus of €1.18B. Revenue +1.5% to €18.1B, a bit above the speculated figure of €17.9B but in line with Street predictions. "There was good profitability in the healthcare and energy sectors," says Commerzbank analyst Ingo-Martin Schachel, although "the short-cycle segments in the industry sector were relatively weak." (PR) | Comment!
Jan. 22, 2013, 4:18 AMSiemens' (SI) FQ1 net profit from continuing operations was reportedly little changed at €1.3B, above consensus of €1.14B, while revenue was also flat at €17.9B and missed forecasts of €18.1B. Earnings were hurt by a triple-digit million euro hit following delays in the delivery of high-speed trains to Deutsche Bahn, and by Siemens' exit from its solar business. New orders were above sales. Shares -1.6% premarket. | Comment!
Nov. 8, 2012, 3:52 AMMore on Siemens (SI) FQ4: Expects net profit from continuing ops to fall to €4.5B-€5B in FY 2013 from €5.18B last year, due to about €1B of costs from its savings program and the effect of plans to change its accounting standards. Agrees to acquire Belgian industry software maker LMS International for €680M and sell water businesses with revenue of €1B a year. | Comment!
Nov. 8, 2012, 3:45 AMSiemens (SI): FQ4 net profit from continuing ops -2% to €1.48B vs consensus of €1.34B, with earnings hurt by a €327M hit at its oil and gas business in Iran because of sanctions. Revenue +7% to €21.7B. Plans to slash €6B in costs by end of FY 2014 and increase operating margins from four core businesses to at least 12% from 9.5% last year. (PR) | Comment!
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