Siemens Energy to Hit Top End of Guidance With US Demand Strong

Siemens Energy AG expects to reach the upper end of its full-year guidance on the back of surging orders for its gas turbines and grid equipment amid a boom in global electricity demand.

Net income for its fiscal third quarter came in higher than anticipated at €697 million ($807 million), the German industrial firm said Wednesday. The company reported strong orders in the US, helping it shrug off a €100 million direct hit from tariffs imposed by President Donald Trump.

Siemens Energy is among the companies benefiting from a flood of investment in power-hungry data centers, which is driving ...