Philips CEO warns of growth target shortfall for 2026, stock drops post-Citi conference. Sales growth unlikely to hit projected 4.5%, facing tariff challenges in 2023.

Shares of Koninklijke Philips NV (NYSE: PHG ) experienced a substantial decline on Thursday, marking their most significant drop in a single day since February. The stock showed significant weakness following cautious remarks made by CEO Roy Jakobs at Citi's Global Healthcare Conference. According to Reuters, Philips anticipates organic sales growth to increase from 2% this year to 2026, falling short of the 4.5% consensus forecast. As per Citi analysts, the company restated its objective to enhance margins in 2026 but cautioned about tariff headwinds in the upcoming year, which are projected to nearly double. The full story can be accessed on Benzinga.com.