Royal Philips NV lowered its growth and earnings guidance after supply-chain issues including a shortage of semiconductors weighed on sales as disruption spreads across manufacturers.
The medical equipment supplier now expects low single-digit sales growth for 2021, down from the low-to-mid-single digit increase it forecast previously. Philips sees just a “modest” increase in its profit margin, compared to the 60-basis-point improvement it anticipated previously.
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October 18, 2021 at 12:27PM
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Philips Cuts Outlook on 'Chips and Ships' Snarling Sales - Bloomberg
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