Siemens Energy's shares have more than tripled over the past year, reflecting progress in resolving issues with its wind-turbine unit and growing demand for its products. The company plans to update its cash-flow guidance with its half-year results on May 8. The recent surge in orders is attributed to the boom in artificial intelligence, which is driving the construction of power-intensive data centers. Despite the recent share price drop, the company's results were stronger than expected, with profit before special items reaching €481 million, surpassing analyst estimates of €404 million.
Key takeaways:
- Siemens Energy AG increased its cash flow outlook for the year after exceeding analysts' revenue and profit estimates in its first quarter.
- The company now expects pretax free cash flow to surpass its previous guidance of up to €1 billion, with shares rising as much as 5.1% in early trading.
- Siemens Energy shares have more than tripled in value over the past year due to progress in its wind-turbine unit and increased demand for grid technologies.
- Pretax free cash flow reached €1.53 billion, and profit before special items was €481 million, both beating analyst estimates.