- Outlook:
o Revised FY 2022 targets: revenue to grow at the low end of the previously guided low to mid-single digit percentage range and net income to decline around a high teens percentage range.
o Despite most burdens assumed to be temporary, 2025 targets withdrawn due to uncertainty of labor and macro-economic inflationary environment
- Unprecedented U.S. labor market situation constraining capacity and accelerating wage inflation
- Worsening macroeconomic environment driving cost inflation and supply chain disruptions
- FME25: Transformation to new operating model and savings generation on track
- Start date for Dr. Carla Kriwet as CEO advanced to October 1, 2022
Helen Giza,
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