Siemens Healthineers falls after Q4 miss, 2026 outlook

Siemens Healthineers AG

05/11/2025 07:46

** Shares in Siemens Healthineers SHLG.DE drop around 5% in early Frankfurt trade after the German medical technology company reported fourth-quarter revenues that slightly missed expectations and gave a 2026 outlook

** Q4 revenue was 6.32 billion euros ($7.37 billion), compared to the 6.45 billion expected by analysts polled by Vara Research

** The company said it expects comparable revenue growth of between 5% to 6% for 2026 compared with 2025 and adjusted basic EPS to be between 2.20 euros and 2.40 euros

** "Very weak EPS outlook for FY25/26 will hurt shares, even though company normally guides conservatively," a local trader says

** Still, Jefferies analysts say "cautious" 2026 guidance leaves room for upside and that Siemens Healthineers had flagged headwinds for the year including tariffs

** "FY26 likely a transition year and a basis for SHL's new multi year plan to be unveiled at its upcoming CMD (17 Nov)," they add

 (Reporting by Marleen Kaesebier)

 ((marleen.kaesebier@thomsonreuters.com))