Signify Beats Q3 Profit Forecasts
Signify reported quarterly adjusted core profits above expectations, driven by an extraordinary US tariff refund and lower costs. The lighting maker now expects to reach the top end of its annual margin guidance despite challenging market conditions.
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SIGNIFY NV posted third-quarter core earnings of €145 million ($163 million) on Friday morning, beating analyst forecasts of €113 million. The lighting maker was bolstered by a €28 million tariff refund from the United States and reduced cost of sales. The earnings beat positions the manufacturer to reach the top end of its annual adjusted EBITA margin guidance range of 7.5% to 8.5%.
