May 5, 2020 / 5:12 AM / 25 days ago

Siemens Healthineers says full-year outlook beyond reach

FRANKFURT, May 5 (Reuters) - Siemens Healthineers abandoned its profit guidance for its ongoing fiscal year, citing uncertainties caused by the COVID-19 pandemic even after the medical imaging and diagnostics company reported better-than-expected quarterly earnings.

Its previous outlook for the year through September for growth in adjusted earnings per share of 6% to 12% would likely not be achieved, it said in a statement on Tuesday.

The German maker of x-ray, ultrasound and MRI scanners said its adjusted earnings before interest and tax (EBIT) edged 6% higher to 659 million euros ($718.31 million) in the January-March period, helped by higher margins at its medical imaging business.

That surpassed the average estimate of 563 million euros, according to an analyst survey posted on the company’s website.

$1 = 0.9174 euros Reporting by Ludwig Burger Editing by Michelle Martin

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