Siemens Reports Record Third-Quarter Results

Siemens continued its profitable growth trajectory and delivered another successful quarter in Q3 of fiscal 2026 that ended on June 30. The company’s strong operating performance and strategic orientation were underscored by record results in both order intake and Profit Industrial Business.

Following the strong first nine months of the current fiscal year, Siemens is raising its outlook for basic earnings per share (for net income) before purchase price allocation accounting (EPS pre PPA) from a range of between €10.70 and €11.10 to a range of between €11.20 and €11.50 for fiscal 2026. The company also confirms its further expectations at Group level for fiscal 2026.

“We delivered another very successful quarter with record orders and profit. By executing our ONE Tech Company program, we’ve been accelerating our innovation, which is enabling us to create additional value for our customers. Our technological leadership in all businesses, clear focus on industrial AI, and strong positioning in attractive markets are driving our profitable growth. We have exactly the technologies our customers need to speed up their innovation, increase their productivity and drive their digital transformation,” said Roland Busch, President and CEO of Siemens. “We are on track to complete another successful fiscal year, and we raise our outlook.”

In 3Q26, Siemens increased orders 14 percent on a comparable basis to reach a record high of €27.9 billion (3Q25: €24.7 billion), led by a sharp increase at Smart Infrastructure and significant growth at Digital Industries. Revenue rose 8 percent on a comparable basis to €20.8 billion. All industrial businesses delivered revenue growth, driven by significant increases at Smart Infrastructure and Digital Industries. The book-to-bill ratio was a very strong 1.34. The order backlog reached a new record high of €132 billion at the end of Q3.

“We delivered excellent free cash flow of €4.1 billion in the third quarter, which reflects our strong operational performance. For the full fiscal year, we once again aim to achieve a double-digit free-cash-flow return on revenue. We’re executing our strategy consistently, and our newly launched share-buyback program continues to create value for our shareholders,” said Veronika Bienert, Siemens CFO. “As expected, we’ve now received binding decisions from the tax authorities clarifying the relevant tax topics. As a result, we can proceed with the spin-off of Siemens Healthineers as planned.”

Profit Industrial Business also reached a record high, with growth driven by Digital Industries, where profit surged 25 percent to €3.5 billion. As a result, the profit margin of the Industrial Business was 17.3 percent (3Q25: 14.9 percent). Net income climbed 15 percent to €2.6 billion. Consequently, basic earnings per share before purchase price allocation accounting (EPS pre PPA) totaled €3.14 (3Q25: €2.78). In the first nine months of fiscal 2026, Siemens’ digital business grew by 18 percent, clearly exceeding the 15 percent target announced last November. During the same period, Smart Infrastructure recorded triple-digit order growth in its data center business, reaching around €6 billion.