{"id":76358,"date":"2023-10-24T17:39:39","date_gmt":"2023-10-24T21:39:39","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/philips-revises-full-year-outlook-upwards-expects-3-5-share-price-increase\/"},"modified":"2023-10-24T17:39:42","modified_gmt":"2023-10-24T21:39:42","slug":"philips-revises-full-year-outlook-upwards-expects-3-5-share-price-increase","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=76358","title":{"rendered":"Philips revises full-year outlook upwards, expects 3-5% share price increase"},"content":{"rendered":"
\n
\n

\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

Philips, the Dutch health tech firm listed on Euronext, has revised its full-year outlook upwards, leading to an expected 3-5% increase in share price. This comes after a strong Q3 performance that surpassed Wall Street expectations, with profits reaching $95.6 million and sales hitting $4.75 billion. The company’s effective pricing strategies, productivity measures, and improved working capital management were key contributors to this robust performance.<\/p>\n

Today, Philips reported a 9% YoY drop in orders due to a slowdown in China’s market, despite Q3 core profit soaring to 457 million euros ($483 million). Despite this setback, the company forecasts a 6-7% comparable sales growth in 2023, outperforming its previous mid single-digit prediction. The firm also anticipates a profit margin of 10-11%, up from the former high single-digit aim.<\/p>\n

In response to these developments, J.P.Morgan noted that the year-to-date growth necessitated a guidance upgrade. However, Bernstein expressed concerns over potential negatives from upcoming news on the consent decree tied to Philips’ settlement attempts with U.S. authorities after a significant recall of respiratory devices.<\/p>\n

As part of a strategy shift, Philips has reduced its workforce by 7,500 and plans to eliminate a total of 10,000 roles by 2025. CEO Roy Jakobs credited the improved operational performance to a focus on patient safety and quality, supply chain reliability, and a simplified operating model.<\/p>\n

Despite geopolitical instability, Philips raised its full-year 2023 outlook based on this performance and a robust order book. The company now expects free cash flow at the upper end of the target range of $744.5 million to $957.3 million.<\/p>\n

Philips continues its remediation efforts related to the Respironics recall, with over 99% of registered sleep therapy devices already addressed. In collaboration with the FDA for additional testing, Philips has received preliminary court approval to settle all economic loss claims associated with the recall in the U.S.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Philips, the Dutch health tech firm listed on Euronext, has revised its full-year outlook upwards, leading to an expected 3-5% increase in share price. This comes after a strong Q3 performance that surpassed Wall Street expectations, with profits reaching $95.6 million and sales hitting $4.75 billion. The company’s effective pricing strategies, productivity measures, […]<\/p>\n","protected":false},"author":1,"featured_media":2857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-76358","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nPhilips revises full-year outlook upwards, expects 3-5% share price increase | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. Philips, the Dutch health tech firm listed on Euronext, has revised its full-year outlook upwards, leading to an expected 3-5% increase in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=76358\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Philips revises full-year outlook upwards, expects 3-5% share price increase | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters. Philips, the Dutch health tech firm listed on Euronext, has revised its full-year outlook upwards, leading to an expected 3-5% increase in\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=76358\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-24T21:39:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-24T21:39:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXMPEB2C0AG_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=76358#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=76358\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Philips revises full-year outlook upwards, expects 3-5% share price increase\",\"datePublished\":\"2023-10-24T21:39:39+00:00\",\"dateModified\":\"2023-10-24T21:39:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=76358\"},\"wordCount\":336,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=76358#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=76358\",\"url\":\"https:\/\/ifintechworld.com\/?p=76358\",\"name\":\"Philips revises full-year outlook upwards, expects 3-5% share price increase | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-10-24T21:39:39+00:00\",\"dateModified\":\"2023-10-24T21:39:42+00:00\",\"description\":\"\u00a9 Reuters. Philips, the Dutch health tech firm listed on Euronext, has revised its full-year outlook upwards, leading to an expected 3-5% increase in\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=76358#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=76358\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=76358#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Philips revises full-year outlook upwards, expects 3-5% share price increase\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Philips revises full-year outlook upwards, expects 3-5% share price increase | iFintechWorld","description":"\u00a9 Reuters. Philips, the Dutch health tech firm listed on Euronext, has revised its full-year outlook upwards, leading to an expected 3-5% increase in","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=76358","og_locale":"en_US","og_type":"article","og_title":"Philips revises full-year outlook upwards, expects 3-5% share price increase | iFintechWorld","og_description":"\u00a9 Reuters. Philips, the Dutch health tech firm listed on Euronext, has revised its full-year outlook upwards, leading to an expected 3-5% increase in","og_url":"https:\/\/ifintechworld.com\/?p=76358","og_site_name":"iFintechWorld","article_published_time":"2023-10-24T21:39:39+00:00","article_modified_time":"2023-10-24T21:39:42+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXMPEB2C0AG_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=76358#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=76358"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Philips revises full-year outlook upwards, expects 3-5% share price increase","datePublished":"2023-10-24T21:39:39+00:00","dateModified":"2023-10-24T21:39:42+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=76358"},"wordCount":336,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=76358#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=76358","url":"https:\/\/ifintechworld.com\/?p=76358","name":"Philips revises full-year outlook upwards, expects 3-5% share price increase | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-10-24T21:39:39+00:00","dateModified":"2023-10-24T21:39:42+00:00","description":"\u00a9 Reuters. Philips, the Dutch health tech firm listed on Euronext, has revised its full-year outlook upwards, leading to an expected 3-5% increase in","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=76358#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=76358"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=76358#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Philips revises full-year outlook upwards, expects 3-5% share price increase"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/76358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=76358"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/76358\/revisions"}],"predecessor-version":[{"id":76359,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/76358\/revisions\/76359"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/2857"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=76358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=76358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=76358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}