Philips (NYSE: PHG) reported Q3 EPS of EUR0.25, EUR0.01 better than the analyst estimate of EUR0.24. Revenue for the quarter came in at EUR4.3 billion versus the consensus estimate of EUR4.49 billion.

GUIDANCE:

Looking ahead, the company sees prolonged operational and supply challenges, a worsening macro-economic environment and continued uncertainty related to COVID-19 measures in China, which will be partly offset by Philips’ productivity and pricing actions. Consequently, Philips now expects a mid-single-digit comparable sales decline for the fourth quarter of 2022, with a high-single-to-double-digit Adjusted EBITA margin range.

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