Siemens Energy impresses with positive Q3 update

(Sharecast News) - German energy tech giant Siemens Energy saw its share price jump on Tuesday after the company's fiscal third-quarter update call with analysts painted a positive outlook for demand. In a briefing with analysts after markets closed on Monday, the firm backed its full-year guidance, pointing to good order momentum continuing from the second quarter.

According to Citi, the firm's comments imply third-quarter group orders of €17.7bn, some 4% ahead of the current consensus estimate.

"Given the shares' recent weakness on concerns around peaking Gas orders in FY26/softening supply/demand, we would expect some relief for the shares," said Citi's Vivek Midha in a research note on Tuesday.

The analyst said the mood on the call was "upbeat" with a "positive tone impl[ying] potential upside to Gas Services".

In its last update to shareholders in May, Siemens Energy said comparable revenue growth for the full financial year ending 30 September should be 14-16%, with net income projected to be €4bn.

The stock was up 5.3% at €165.30 by 1447 BST.