Siemens reaffirmed its FY26 outlook after reporting flat revenue but stronger orders and free cash flow in Q2.
Siemens reported Q2 non-GAAP earnings per share of €2.81 and revenue of €19.76M, unchanged from the same period last year. Orders surged 11% year-over-year to €24.1 billion on a nominal basis, while free cash flow rose sharply to €1.7 billion.
The company’s revenue remained flat compared to Q2 2023, but the order growth and improved cash flow signal demand resilience. Siemens maintained its fiscal 2026 outlook, citing operational strength despite macroeconomic uncertainties.
Shares showed limited movement in pre-market trading as investors digested the mixed performance.