Siemens Healthineers: Initiation Of Coverage- How It’s Tackling EUR 500 Million Tariff Hit Without Slowing Down! 

Siemens Healthineers reported strong financial performance for Q3 2025, with a 7.6% growth in revenue and a 23% increase in adjusted earnings per share (EPS) to EUR 0.64. This growth was achieved despite significant tariff-related headwinds amounting to roughly EUR 100 million, which the company successfully mitigated to some extent through operational efficiencies and margin expansion. Across its various segments, Siemens Healthineers demonstrated robust revenue growth and margin improvements, particularly in Imaging, which saw nearly 12% growth with a 21% margin, and Varian with a 9% revenue increase and an 18.8% margin, marking a recovery from previous quarter’s performance.