Siemens Energy Orders Reach Record Highs on U.S. Data-Center Demand — Update

By Aimee Look

A wave of demand for U.S. data centers propelled Siemens Energy's orders to a record high, while profits more than tripled in its fiscal third quarter.

The German maker of energy equipment said it benefited from surging global demand for electricity in the third fiscal quarter, with order intake bolstered by the U.S.

Overall orders were 17.93 billion euros, equivalent to $20.68 billion, growing over 8.5% on a comparable on-year basis. Orders also broadly surpassed analyst expectations compiled by Visible Alpha.

Siemens Energy's gas-services orders grew sharply to 9.97 billion euros, comparably up 61.9% on year for the three months ended June. The segment had a massive boost from large orders related to data centers in the U.S., the company said. Power plants in the Middle East and Asia were also key drivers of growth.

However, the segment's momentum in gas services didn't quite match the upside surprises its reporting peers have shown, analysts at RBC Capital Markets said in a note.

Shares rose around 4% in early morning European trade.

Meanwhile, Siemens Energy's profit before special items more than tripled on year to hit 1.62 billion euros in the quarter. The key profitability metric's margin was 14.2%, just shy of three times the result last year.

The company also expects to come in at the higher end of its full fiscal-year guidance for profit margin before special items, which it said in May would be between 10% and 12%.

Revenue also reached a record high, with revenue at 11.45 billion euros, beyond estimates of 11.25 billion euros. For the same period last year, revenue was 9.75 billion euros.

Write to Aimee Look at aimee.look@wsj.com

(END) Dow Jones Newswires

August 05, 2026 03:53 ET (07:53 GMT)