FRANKFURT, Germany – German energy giant Siemens Energy announced Tuesday it will speed up its existing stock repurchase program following strong financial performance in the second quarter.
The company reported a substantial 42% surge in pre-tax free cash flow, driven largely by growing demand for data center infrastructure needed to support artificial intelligence technology.
As a result of this improved financial position, Siemens Energy revealed plans to repurchase up to 3 billion euros worth of its own stock during 2026. This represents a significant increase from the 2 billion euros the company had previously scheduled to buy back in the current fiscal year.
The announcement comes after the company shared preliminary quarterly results last month, which included an upgraded forecast for the remainder of its fiscal year.
While the timeline for stock purchases has been accelerated, company officials noted that the total value of the buyback program remains at 6 billion euros, the same amount announced when the initiative was first revealed in November.
