Philips has raised its earnings outlook after receiving $158 million in US tariff refunds, recovering almost all of the duties it had paid. Director General Roy Jakobs said the company was among the first to apply for the refund following a US Supreme Court ruling that struck down most of President Trump's tariffs. The refund helped Philips report better-than-expected second-quarter profit margins, with net profit rising to 386 million euros from 240 million euros a year earlier. Quarterly sales reached 4.4 billion euros, and the group maintained its annual revenue growth forecast of 3 to 4.5 percent. Philips continues to face legal proceedings over its recalled DreamStation sleep apnoea devices, having reached a $1.1 billion settlement in the US last year without admitting liability.
Koninklijke Philips NVPhilips raised its earnings outlook after receiving $158 million US tariff refund, boosting net profit and margins.