Update: Philips Q3 Net Income Decreases, Sales Increases; 2026 Sales Growth Outlook Maintained

MT Newswires Live11-03

(Updates to add details of its agreement with US DOJ in fifth and sixth paragraph.)

Koninklijke Philips N.V (PHG) reported Q3 net income from continuing operations Tuesday of 0.03 euros ($0.03) per diluted share, down from 0.19 euros a year earlier.

Sales for the quarter ended Sept. 30 were 4.39 billion euros, up from 4.30 billion euros a year earlier.

Analysts expected 4.47 billion euros.

For 2026, the Dutch electronics and medical devices maker continues to expect sales growth of 3% to 4.5%.

Additionally, Philips said its Respironics unit reached an agreement in principle with the US Department of Justice to resolve previously disclosed criminal and civil investigations related to the Respironics recall.

The company said it recorded a provision of 288 million euros in Q3. The settlement remains subject to final documentation, with payment expected in Q1 2027, it added.

Shares of the company were flat in recent premarket activity.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment