Siemens Energy AG is projected to achieve the higher end of its full-year guidance, fueled by a significant increase in orders for its gas turbines and grid equipment. This surge is attributed to a global boom in electricity demand. The German industrial firm reported a fiscal third-quarter net income of €697 million ($807 million), surpassing expectations despite a €100 million impact from tariffs imposed by President Donald Trump.
The company's Q3 earnings showed substantial growth. Net income surged 70.5% to €1.188 billion from €697 million in the previous year. Basic earnings per share climbed to €1.26 from €0.70. Profit before special items more than tripled, reaching €1.623 billion compared to €497 million a year ago. Revenue increased by 17.5% to €11.447 billion from €9.745 billion, marking Siemens Energy's highest quarterly revenue to date.
Orders also saw a healthy increase, growing 7.9% to €17.926 billion from €16.613 billion in the prior year. This growth was particularly strong in the US, contributing to the positive outlook. Siemens Gamesa, the wind energy subsidiary, reported a positive result for the first time since fiscal year 2022, and is on track to break even for 2026.
Siemens Energy confirmed its fiscal year 2026 outlook, which was previously raised after the first half. The company expects full-year net income of approximately €4 billion, a profit margin before special items between 10% and 12%, and comparable revenue growth in the range of 14% to 16%. The strong demand is driven by the massive expansion of data centers, AI applications, new factories, and overall electrification.
