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Siemens (ETR:SIEGn) exceeded expectations in its fiscal second quarter, reporting a 29% jump in industrial profit to €3.24 billion ($3.63 billion), surpassing analyst estimates of €2.75 billion. The performance was bolstered by a €300 million gain from the sale of its wiring business to ABB (ST:ABB), highlighting the strength of its diversified industrial portfolio, which includes factory automation software, controllers, and rail technology.
Quarterly revenue rose 7% year-over-year to €19.76 billion, outpacing the projected €19.22 billion. Orders also increased by 10%, signaling continued demand for Siemens’ products and solutions despite macroeconomic headwinds. CEO Roland Busch credited the results to the company’s global footprint and continued trust from customers, emphasizing resilience amid growing economic uncertainty.
Despite a challenging economic climate, Siemens confirmed its full-year 2024 outlook, expecting sales to grow between 3% and 7%. The reaffirmed guidance underscores confidence in the company’s operational momentum and strong backlog of industrial orders.
Siemens’ robust quarterly performance and strategic business moves position it well for steady growth. The company remains focused on digitalization, automation, and energy transition technologies—key sectors driving industrial transformation globally.
The solid earnings report supports investor sentiment and signals resilience in the face of geopolitical and economic volatility. With rising orders and outperforming sales, Siemens is demonstrating its ability to navigate uncertainty while delivering shareholder value and operational excellence.
The Q2 results reinforce Siemens' reputation as a global leader in industrial technology and innovation.
