By Giulia PetroniShares in Siemens rose on Thursday after the German conglomerate's fourth-quarter results came in above expectations and a strong free cash flow drove a dividend lift. Revenue came in at 21.39 billion euros ($23.20 billion) in the quarter, while orders stood at EUR21.80 billion, both above company-compiled consensus estimates of EUR20.99 billion and EUR20.08 billion, respectively. Free cash flow of EUR4.6 billion in the quarter beat expectations by 42%, supporting a proposed dividend of EUR4.70 a share and the announcement of a EUR6 billion buyback program. Siemens said it anticipates a slowdown in revenue growth next year, with global demand for automation products not expected to pick up again until the second half. "One negative is that the DI margin guidance at the midpoint is softer than consensus, but overall group earnings guidance is better than expected."

Source: Wall Street Journal November 16, 2023 21:00 UTC