HUTCHINSON, Kan. — Siemens raised its full-year earnings-per-share forecast on Monday after beating
market expectations for first-quarter industrial profit, revenue and orders.
The Munich-based trains-to-turbines group said it now expected EPS of $6.50 to $6.93, up from its previous forecast for the year ending next September. In the wind energy division, timing related to orders versus execution caused revenue to fall 19 percent, and profits to decline by 37 percent. However, orders increased by more than 44 percent, which included a one billion euro order for an offshore wind-farm in the UK.
The closely-watched profit margin from Siemens’ industrial businesses rose to 10.4 percent from 10.2 percent a year earlier. Excluding severance costs, the margin was 10.7 percent. ADM will be the next major corporation with ties to Hutchinson that will report its fourth quarter earnings.
That report comes out before the bell on Tuesday, Feb. 2.