Philips shares drop as 2026 outlook overshadows solid Q3 results
By Benjamin Chiou
Date: Thursday 04 Dec 2025
(Sharecast News) - Shares in Dutch healthtech giant Philips dropped sharply in Amsterdam on Thursday as comments from its chief executive about the 2026 outlook underwhelmed investors.
At the company's Global Healthcare Conference, which coincided with the release of its third-quarter results, Roy Jakobs said that organic sales growth likely won't double from the 2% rate estimated for 2025, missing the current 4.5% outcome expected by analysts for 2026.
Additionally, while margins are still expected to improve next year, tariff headwinds are predicted to increase, the company said.
Shares were down 5.9% at €22.66 by 1249 GMT.
The comments overshadowed a largely better-than-expected third-quarter report from Philips which showed that group sales rose 3% year-on-year over the three months to 30 September to €4.3bn, with growth registered across all three business segments.
Comparable order intake grew by 8%, helped by a sustained strong performance in North America.
Income from operations increased marginally to €337m from €330m, while the adjusted EBITDA margin rose 50 basis points to 12.3%.
The company maintained its outlook for 2025, but said that the adjusted EBITDA margin would be at the upper end of the 11.3-11.8% range.
"In this quarter we maintained our momentum, with AI-powered innovations and long-term partnerships making a real difference for patients and consumers," Jakobs said in a statement. "We expanded margin through innovation, focused execution and cost discipline, remaining firmly on-track as we navigate an uncertain macro environment including tariffs."
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