Siemens Healthineers Q1 sales beat expectations on strong Varian unit

BERLIN (Reuters) – German medical equipment maker Siemens Healthineers on Thursday posted first-quarter revenue above expectations and an operating result in line with consensus, driven by its U.S. cancer treatment unit Varian.

It said Varian’s revenue improved most in China after sales had been affected by supply chain delays in the prior-year period.

Adjusted earnings before interest and taxes (EBIT) reached 742 million euros ($802 million) in the three months through December on revenue of 5.18 billion, the group said.

Analysts had expected quarterly adjusted EBIT of 742 million euros on revenue of 5.11 billion, according to a company-provided poll.

The company’s diagnostics unit, which encompasses its laboratory testing and includes the now-ended COVID-19-test business, saw its quarterly revenue fall 7.7% in the first quarter.

Siemens Healthineers confirmed its 2024 guidance and still expects adjusted basic earnings per share to be between 2.10 and 2.30 euros and comparable revenue growth of between 4.5% to 6.5%.

($1 = 0.9257 euros)