By Nina Kienle
Siemens is scheduled to report results for the second quarter of fiscal 2026 on Wednesday. Here is what you need to know:
REVENUE FORECAST: The German industrial company is expected to post 20.14 billion euros ($23.74 billion) in revenue for the quarter through March 31, according to a company-provided consensus. That compares with the 19.76 billion euros reported in the prior-year period. According to the same consensus, analysts expect quarterly orders to come at 22.29 billion euros, an increase from the 21.64 billion euros the group reported a year ago.
NET PROFIT FORECAST: Siemens's net profit is expected at 1.92 billion euros, according to the consensus, down from the 2.25 billion euros it reported in the prior-year period.
Siemens's shares trade broadly flat in European morning trade, 0.4% higher at 266.1 euros, and are up 11% year to date.
WHAT TO WATCH:
-- ELECTRIFICATION: This earnings season has been a clear demonstration of the growing strength in the electrification domain, as shown by strong reports and full-year guidance upgrades from Siemens's peers ABB and Eaton, Deutsche Bank Research analysts said in a note to clients. In that context, the analysts now anticipate Siemens's smart infrastructure division to beat consensus estimates on second-quarter orders by 5% to 10%. While the general pace of growth continues to quicken in the sector, there are questions about the margin momentum for electricals, the analysts said. Management is expected to upgrade the organic growth guidance for the division by two points to a range of 8% to 11%, supported by the accelerating datacenter demand, they added.
-- AUTOMATION: Siemens's digital industries performance is expected to beat consensus estimates for the quarter on all metrics, based on recent publications from peers, Deutsche Bank Research analysts said in a note. Nevertheless, Barclays analysts see a more vulnerable backdrop for the conglomerate's large regional end markets, like Europe and China, and core industrial sectors, like automotive and construction exposures, which could trigger a visible slowdown for the core businesses, they said.
-- MIDDLE EAST CONFLICT: "While recent events in the Middle East have increased uncertainty, we overall see limited downturn risk for the capital goods sector after 3 fairly soft years," RBC Capital Markets analyst Mark Fielding said. While muted near-term demand momentum in the sector does raise the risk of the industrial recovery in the second half of the year to be pushed further out, sector midterm growth drivers are still in place, he said.
Write to Nina Kienle at nina.kienle@wsj.com
(END) Dow Jones Newswires
May 11, 2026 05:50 ET (09:50 GMT)
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