04:36 AM EDT, 05/12/2026 (MT Newswires) -- Siemens Energy (ENR.F) on Tuesday raised its outlook for fiscal 2026 following a surge in net income for the first half.

The German energy technology group increased its net income projections for the full year to 4 billion euros from the previously provided range of 3 billion euros to 4 billion euros. The company also now expects comparable revenue growth to range between 14% and 16%, compared with the range of 11% to 13%.

For the six months ended March 31, the company's net income attributable to shareholders more than doubled to 1.44 billion euros from 632 million euros a year earlier. Revenue climbed to nearly 20 billion euros from 18.9 billion euros. Siemens saw record high order bookings in the second quarter at 17.7 billion euros, backed by a record level of orders in the gas services segment and a sharp increase in the grid technologies area.

Free cash flow before tax increased to 4.84 billion euros, compared with 2.92 billion euros a year ago. This was mainly due to increased profits and advance payments from customers. The company raised its fiscal-year outlook for pre-tax free cash flow to 8 billion euros from the previously provided guidance of 4 billion euros to 5 billion euros.

The company accelerated its stock buyback plan for the fiscal year to 3 billion euros from 2 billion euros, Reuters reported the same day. The overall buyback plan's size remains unchanged at 6 billion euros.

Siemens Energy shares were down more than 1% by Tuesday midday.