Philips delivers first-quarter results in line with 2024 performance improvement plan; Resolves the Respironics personal injury and medical monitoring litigation in the US for USD 1.1 bill...
Koninklijke Philips N.V. NY Registry Shares (PHG)
US:NYSE Investor Relations:
philips.com/a-w/about/investor.html
Company Research
Source: GlobeNewswire
April 29, 2024 First-quarter highlights Group sales amounted to EUR 4.1 billion, with comparable sales growth of 2.4%Comparable order intake -3.8%, mainly due to ChinaUSD 1.1 billion Respironics litigation settlement reached in the US (provision recognized of EUR 982 million)Income from operations EUR -824 million, including above provisionAdjusted EBITA margin of 9.4% of salesFree cash outflow of EUR 336 millionEUR 540 million agreement reached with insurers for Respironics recall-related product liability claims Roy Jakobs, CEO of Royal Philips:“We started the year in line with our plan, with order intake growth outside China turning positive and strong margin improvement. Supported by key innovation launches and strong focus on our execution priorities, we remain confident in our performance improvement plan for 2024. Patient safety and quality is our highest priority, and we have taken important steps in further resolving the consequences
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News
- Philips announces exchange ratio for 2023 dividendGlobeNewswire
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- Philips sues CPAP cleaning product maker, saying it should pay part of settlements [Reuters]Reuters
- Koninklijke Philips (NYSE: PHG) was upgraded by analysts at Sanford C. Bernstein from a "market perform" rating to an "outperform" rating.MarketBeat
- PHG vs. HAE: Which Stock Is the Better Value Option? [Yahoo! Finance]Yahoo! Finance
PHG
Earnings
- 1/29/24 - In-Line
PHG
Sec Filings
- 5/15/24 - Form 6-K
- 5/14/24 - Form S-8
- 5/8/24 - Form 6-K
- PHG's page on the SEC website