Siemens Energy AG logged its strongest quarterly revenue to date, driven by progress in scaling production capacity, as reported by Nasdaq. The German energy giant saw third-quarter net income climb to 1.188 billion euros, a 70.5% jump from 697 million euros in the same period last year.
Basic earnings per share reached 1.26 euros, compared to 0.70 euros in the prior year. Pretax profit before special items rocketed to 1.623 billion euros from 497 million euros a year earlier, according to the firm’s results report.
Revenue for the period climbed 17.5% to 11.447 billion euros from 9.745 billion euros in the prior year. On a comparable basis, revenue was up 18.5%, with gains recorded in every business unit.
The company also saw orders rise to 17.926 billion euros, up 7.9% from 16.613 billion euros the previous year. On a comparable basis, the increase was 8.5%. Strong performance in the U.S. market accounted for much of the growth.
Siemens Energy said its wind division, Siemens Gamesa, returned to profitability in the third quarter for the first time since fiscal 2022, and is expected to break even by the end of 2026.
The firm confirmed its 2026 financial targets, which include a full-year net income of around 4 billion euros. It projects a pre-special items profit margin between 10% and 12%, with comparable revenue growth estimated at 14% to 16% for the year.