Siemens Ups Guidance After Posting Highest Ever Profit
- Suncor Energy Inc. reported net earnings of $3.7 billion for the second quarter on Wednesday, bolstered by a record $3.9 billion in free funds flow.
- "The quarter was led by the exemplary performance of our downstream business," said Rich Kruger, Suncor's president and chief executive, citing record refined product sales of 654,800 barrels daily.
- Suncor raised monthly share buybacks to $500 million from $350 million, sending $1.7 billion total to shareholders through dividends and stock purchases.
- Net debt fell to nearly $4.5 billion while royalty payments to Alberta doubled to $1.2 billion, though upstream production dipped to 760,900 barrels daily due to Firebag maintenance.
- Geopolitical instability in the Middle East boosted profit margins, aiding operations at the Montreal refinery that began producing jet fuel in November; Syncrude maintenance was pushed to the third quarter.
45 Articles
45 Articles
Siemens announces record results for the third quarter in a row and defies the general crisis in Germany. The reason for the success lies in the complete conversion of the Group. However, the record figures have a blind spot.
In the third quarter of 2026, Siemens increased orders by 14% on a comparable basis (excluding currency conversion and portfolio effects), to a maximum of EUR 27.9 billion, driven by strong growth in Smart Infrastructure and significant increases in Digital Industries. Revenues grew 8% on a comparable basis to EUR 20.8 billion. All industrial business areas recorded revenue growth, driven by significant increases in Smart Infrastructure and Digi…
Siemens shares plunge on disappointing guidance raise
Along with other industrial firms such as France's Schneider Electric and Switzerland's ABB, Siemens has benefitted from demand for data centres that provide the computing power for AI. The provider of electrical equipment now expects earnings per share, a measure of underlying profitability, of 11.20 to 11.50 euros for the year ($12.93 to $13.28), up from a range of 10.70 to 11.10 euros given in February. "The data centre business is especially…
Order backlog and receipt of the technology group reach record values. Siemens raises the forecast, but the stock exchange is not enough. Despite an increased profit forecast, the share price lost six percent. Why?
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