Siemens AG (SIEGY, $56.53) posted first quarterly loss since 2010

Siemens AG posted a net loss of EUR1.66 billion ($1.71 billion) for the quarter ending June 30, compared to analysts’ forecast of EUR532 million loss according to consensus estimates provided by Siemens (as reported in MarketWatch). This is the German company's first quarterly loss since the fourth quarter of 2010, It had a profit of EUR1.35 billion a year earlier.

Revenue for the quarter came in at EUR17.87 billion, beating analysts’ expectations of EUR17.47 billion. The figure is also higher than the year-ago period’s EUR16.09 billion.

Orders climbed to EUR22.01 billion, from EUR20.49 billion.

The conglomerate had booked an impairment of EUR2.7 billion on its investment in Siemens Energy AG during the quarter. It also incurred around EUR600 million in Russia-related charges.

Looking ahead, Siemens cut its full-year 2022 outlook on basic earnings per share from net income before purchase price allocation to a range of EUR5.33 to EUR5.73, vs. prior forecast of EUR8.70 to EUR9.10 previously,  owing to the Siemens Energy impairment. The company reaffirmed its forecast of 6% to 8% growth in comparable revenue, net of currency translation and portfolio effects.

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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.