Siemens' Kaeser: Recovery Party 'is Over', Tougher Comps Ahead
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Siemens (NYSE: SI) Finance Director Joe Kaeser says that the recovery party is just about over.
At an event in Shanghai Tuesday, Kaeser said that the first signs of easing growth are on the horizon as the tailwind from the economic recovery is "likely over." Further, "increased efforts" will be necessary for continued growth, Kaeser says.
This may not be news to some, rather a reminder, as the CFO has said it expects H211 growth to slow. Comparisons are also expected to become tough moving forward.
Siemens expects orders to be "significantly up" in its third quarter, when compared with the same period last year. The company attributes a large order for high-speed trains from Germany for the outlook. Operating profits, expected to be €1.4 billion, will be slightly stronger year-over-year.
Siemens, widely regarded as the bellwether for the German economy, is expected to release Q311 results on July 28th.
Siemens shares are down over 3 percent pre-market.
At an event in Shanghai Tuesday, Kaeser said that the first signs of easing growth are on the horizon as the tailwind from the economic recovery is "likely over." Further, "increased efforts" will be necessary for continued growth, Kaeser says.
This may not be news to some, rather a reminder, as the CFO has said it expects H211 growth to slow. Comparisons are also expected to become tough moving forward.
Siemens expects orders to be "significantly up" in its third quarter, when compared with the same period last year. The company attributes a large order for high-speed trains from Germany for the outlook. Operating profits, expected to be €1.4 billion, will be slightly stronger year-over-year.
Siemens, widely regarded as the bellwether for the German economy, is expected to release Q311 results on July 28th.
Siemens shares are down over 3 percent pre-market.
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