EarningsQ2 2026 Earnings Report
DE:PHIA Q2 2026 EPS Results
Actual EPS€0.50
Consensus EPS€0.36
Beat/MissBeat by +€0.14
One Year Ago EPS€0.37
DE:PHIA Q2 2026 Revenue Results
Actual Revenue€4.51B
Expected Revenue€4.37B
Beat/MissBeat by +€145.59M
YoY Revenue Growth+3.10%
Earnings Announcement Details
QuarterQ2 2026
Date07/27/2026
TimeTBA
Conference CallMonday, July 27, 2026
DE:PHIA Upcoming Earnings
Koninklijke Philips's next earnings date is estimated for November 3, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:PHIA Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a generally positive operational and financial tone: key growth metrics (comparable sales ~4%), strong order momentum (rolling 12‑month +5%), record equipment order book, robust Personal Health performance, notable commercial wins and continued productivity delivery supported the narrative. However, meaningful near‑term headwinds remain — elevated cost inflation, China centralized procurement pressure, D&T margin weakness ex‑refund, and timing/phasing of large cloud/platform deals — some of which depress near‑term underlying margins and introduce execution risk for the back‑loaded margin recovery. On balance, the positives (growth, order book, productivity progress, balance‑sheet improvement and reiterated guidance) outweigh the lowlights, but management highlighted areas requiring continued execution.Company Guidance
Comparable Sales Growth
Q2 comparable sales grew ~4% (4.1% reported, adjusted to 4%), with H1 comparable sales growth also ~4%. Company reiterated full-year comparable sales growth outlook of 3.0% to 4.5%.
Adjusted EBITA Margin and Underlying Guidance
Adjusted EBITA margin rose to 16.4% in Q2 including a tariff refund; underlying adjusted EBITA margin excluding the tariff refund was 12.2% in Q2. Full-year underlying adjusted EBITA margin guidance remains 12.5%–13.0% (13.5%–14% including the Q2 tariff refund).
Strong Order Momentum and Record Equipment Order Book
Rolling 12‑month order intake grew ~5%, equipment order book at a record level providing visibility. Company expects solid order growth in Q3 with some large Monitoring orders phasing from Q2 into Q3.
Personal Health Outperformance
Personal Health comparable sales grew ~8% in Q2, with adjusted EBITA margin expanding to 23% including the tariff refund (ex-refund margin expansion ~280 basis points). Market leadership gains (e.g., U.S. power toothbrush leadership) and successful new product launches drove growth and favorable product mix.
Diagnosis & Treatment and Image‑Guided Therapy Strengths
Image‑Guided Therapy delivered high single‑digit growth (22nd consecutive quarter of growth), strong North America win rate, notable customer wins (14 cath labs with a U.S. nonprofit; enterprise partnership across 200 hospitals in Poland). Precision Diagnosis showed double‑digit order growth outside China driven by new Spectral CT, wide bore CT Rembra, helium‑free MRI and point‑of‑care ultrasound.
Productivity Delivery and Cost Savings Trajectory
Delivered EUR 132M in productivity savings in Q2 and EUR 258M year‑to‑date; on track for the EUR 1.5bn three‑year saving commitment. Examples include AI initiatives accelerating concept development (Illuminate) and engineering productivity gains (NOVA).
Cash Flow, Balance Sheet and Capital Allocation
Q2 free cash flow inflow of EUR 222M (including tariff refund). Ended Q2 with EUR 1.8bn cash; net debt EUR 5.7bn and leverage improved to 1.8x (net debt to adjusted EBITA) from 2.2x year‑ago, supporting resilience and investment flexibility.
Regulatory and Innovation Milestones
Secured 9 FDA 510(k) clearances/PMAs in Q2 bringing year‑to‑date total to 29. Received regulatory approvals in China for Rembra, Areta and Verida CT platforms. Introduced innovations including SmartIQ (Azurion), multi‑contrast 4D MR for radiotherapy simulation and Titanion 3T MRI platform.
Major Strategic Customer Wins & Recognitions
Won large enterprise and system deals (e.g., Karolinska region‑wide hospital‑at‑home program supporting up to 15,000 patients; 10‑year full cloud conversion supporting ~1.7M image studies/year for a leading U.S. health system). Named HealthTrust 2026 Capital Supplier of the Year.
DE:PHIA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed