← Siemens Energy overview

Siemens Energy vs Electricity Generating: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Siemens Energy AG (ENR.XETRA)

Q3 2026
▲3

Record Gas Turbine Demand and AI Deals Drive Siemens Energy Higher

  • Record gas turbine demand and strong Q3 results Global gas turbine orders hit 38 GW in Q2, with Siemens Energy leading at 12.5 GW. Q3 net income surged 70.5% to €1.188bn on record revenue, and the fiscal 2026 outlook was confirmed.

    This is the core positive driver of the quarter, showing strong demand and financial performance.

  • AI data center and infrastructure deals build backlog AI data center deals, including a 1 GW Babcock & Wilcox agreement, plus nuclear and grid contracts (Pickering, Texas) and a Brazil FPSO win, are building backlog and supporting future growth.

    These new contracts expand the order book and diversify revenue streams, driving investor optimism.

  • Turbine prices could nearly triple by end-2027 Turbine prices could nearly triple by end-2027, reflecting tight supply and strong demand, which would significantly boost profitability and pricing power.

    This pricing outlook is a key factor behind the stock's positive momentum.

  • Steam turbine unit sale: potential value but execution risk The steam turbine unit sale, though potentially valuing it above €10bn, requires up to €7bn in debt financing and is not yet complete, leaving execution and deal risk.

    This is a significant counterweight that could affect the company's financial position and investor sentiment.

September 2026
▲4

AI power demand and nuclear orders lift Siemens Energy; steam unit sale advances

  • AI data centers drive gas turbine demand and pricing AI data centers are straining power supplies, and gas turbines are the bottleneck. Siemens Energy's gas turbine backlog hit 69 GW, with 15 GW of new orders and 18.5% revenue growth. Turbine prices could nearly triple by end-2027, boosting future profits.

    This is the core force behind the stock: surging AI power demand lifts orders, backlog and pricing for Siemens Energy's gas turbines.

  • Concrete nuclear and grid orders add to backlog Siemens Energy won a C$1.3bn contract to replace turbine generators at Ontario's Pickering nuclear plant, and its grid-stabilizing technology will be used in a $50M DOE-funded Texas project. These are firm orders that support future revenue.

    New contract wins show Siemens Energy converting demand into signed orders beyond gas turbines, supporting the growth story.

  • Steam turbine unit sale moves closer with €7bn debt package Bankers are arranging up to €7bn in debt to finance a majority stake sale of Siemens Energy's steam turbines unit, potentially valuing it above €10bn. This would let Siemens Energy focus on its core power generation and grid business.

    The sale is a major capital move that could sharpen the company's focus and unlock value, directly affecting the investment case.

  • Fast-track Saudi gas plant shows strong execution Siemens Energy's consortium fired the first gas turbine at Saudi Arabia's Rabigh plant just 14 months after contract award, well ahead of typical timelines. This demonstrates reliable delivery, which helps win future orders.

    Successful fast-track project execution supports Siemens Energy's reputation and future demand for its gas turbines.

Latest
▲4

AI power demand and nuclear orders lift Siemens Energy; steam unit sale advances

  • AI data centers drive gas turbine demand and pricing AI data centers are straining power supplies, and gas turbines are the bottleneck. Siemens Energy's gas turbine backlog hit 69 GW, with 15 GW of new orders and 18.5% revenue growth. Turbine prices could nearly triple by end-2027, boosting future profits.

    This is the core force behind the stock: surging AI power demand lifts orders, backlog and pricing for Siemens Energy's gas turbines.

  • Concrete nuclear and grid orders add to backlog Siemens Energy won a C$1.3bn contract to replace turbine generators at Ontario's Pickering nuclear plant, and its grid-stabilizing technology will be used in a $50M DOE-funded Texas project. These are firm orders that support future revenue.

    New contract wins show Siemens Energy converting demand into signed orders beyond gas turbines, supporting the growth story.

  • Steam turbine unit sale moves closer with €7bn debt package Bankers are arranging up to €7bn in debt to finance a majority stake sale of Siemens Energy's steam turbines unit, potentially valuing it above €10bn. This would let Siemens Energy focus on its core power generation and grid business.

    The sale is a major capital move that could sharpen the company's focus and unlock value, directly affecting the investment case.

  • Fast-track Saudi gas plant shows strong execution Siemens Energy's consortium fired the first gas turbine at Saudi Arabia's Rabigh plant just 14 months after contract award, well ahead of typical timelines. This demonstrates reliable delivery, which helps win future orders.

    Successful fast-track project execution supports Siemens Energy's reputation and future demand for its gas turbines.

July 2026
▲4

Siemens Energy rides record gas turbine demand and AI data center deals

  • Record gas turbine orders, Siemens Energy leads Global gas turbine orders hit a record 38 GW in Q2, up 71% year-over-year, with Siemens Energy leading at 12.5 GW. Surging electricity demand from data centers and manufacturing onshoring is driving this, and tight manufacturing capacity means strong pricing power and a growing backlog for Siemens Energy.

    This is the core demand driver behind the stock's momentum, showing the big-picture force at work.

  • Q3 profit surges 70.5%, outlook confirmed Siemens Energy reported Q3 net income up 70.5% to €1.188 billion, revenue up 17.5% to a record €11.447 billion, and orders up 7.9%. Profit before special items more than tripled, and the company confirmed its fiscal 2026 outlook, signaling strong execution and financial health.

    This is the key financial update that reassures investors about profitability and future guidance.

  • New 1 GW AI data center turbine deal with Babcock & Wilcox Siemens Energy signed an agreement with Babcock & Wilcox to supply 20 steam turbine generator sets totaling 1 GW for AI data center projects. This expands Siemens Energy's footprint in the fast-growing data center power market and adds to its backlog.

    This is a concrete new contract that directly boosts future revenue and shows demand from AI data centers.

  • Brazil FPSO contract with SBM Offshore Siemens Energy won a contract to supply power generation and gas compression systems for two Petrobras FPSOs in Brazil, with 16 modular systems. This diversifies order intake into offshore oil and gas and adds long-term service potential.

    This is a new international order that broadens Siemens Energy's business beyond power generation.

▲4

Siemens Energy rides record gas turbine demand and AI data center deals

  • Record gas turbine orders, Siemens Energy leads Global gas turbine orders hit a record 38 GW in Q2, up 71% year-over-year, with Siemens Energy leading at 12.5 GW. Surging electricity demand from data centers and manufacturing onshoring is driving this, and tight manufacturing capacity means strong pricing power and a growing backlog for Siemens Energy.

    This is the core demand driver behind the stock's momentum, showing the big-picture force at work.

  • Q3 profit surges 70.5%, outlook confirmed Siemens Energy reported Q3 net income up 70.5% to €1.188 billion, revenue up 17.5% to a record €11.447 billion, and orders up 7.9%. Profit before special items more than tripled, and the company confirmed its fiscal 2026 outlook, signaling strong execution and financial health.

    This is the key financial update that reassures investors about profitability and future guidance.

  • New 1 GW AI data center turbine deal with Babcock & Wilcox Siemens Energy signed an agreement with Babcock & Wilcox to supply 20 steam turbine generator sets totaling 1 GW for AI data center projects. This expands Siemens Energy's footprint in the fast-growing data center power market and adds to its backlog.

    This is a concrete new contract that directly boosts future revenue and shows demand from AI data centers.

  • Brazil FPSO contract with SBM Offshore Siemens Energy won a contract to supply power generation and gas compression systems for two Petrobras FPSOs in Brazil, with 16 modular systems. This diversifies order intake into offshore oil and gas and adds long-term service potential.

    This is a new international order that broadens Siemens Energy's business beyond power generation.

Q2 2026
▲2▼2

Siemens Energy wins new orders but faces valuation downgrade

  • New offshore wind contract Siemens Energy won a contract to supply transmission technology for the North Sea Connector 2 offshore wind project, which will handle up to 2 gigawatts. This adds to its order book and supports future revenue, pushing the stock up.

    This is a new contract win that directly boosts demand for Siemens Energy's products.

  • Oman power plant deal Siemens Energy will supply six gas turbines and generators for two power plants in Oman, plus 20-year service agreements. This large order increases its backlog and provides long-term revenue, a positive for the stock.

    A major new contract that adds to Siemens Energy's order book and future earnings.

  • Barclays downgrade to underweight Barclays downgraded Siemens Energy to underweight (sell), warning its €145 billion market value already prices in peak conditions for gas turbines and cash flow. The stock fell 6.55% as investors worried about a possible downturn.

    This is a new analyst action that directly caused a sharp price drop and reflects valuation concerns.

  • Weak German economy weighs on demand Germany's services sector shrank at the fastest pace in over three years, signaling economic weakness. This could reduce demand for Siemens Energy's products and services, and the stock dropped 5.5% on the news.

    Macroeconomic data points to lower demand, a headwind for Siemens Energy's sales.

June 2026
▲2▼2

Siemens Energy wins new orders but faces valuation downgrade

  • New offshore wind contract Siemens Energy won a contract to supply transmission technology for the North Sea Connector 2 offshore wind project, which will handle up to 2 gigawatts. This adds to its order book and supports future revenue, pushing the stock up.

    This is a new contract win that directly boosts demand for Siemens Energy's products.

  • Oman power plant deal Siemens Energy will supply six gas turbines and generators for two power plants in Oman, plus 20-year service agreements. This large order increases its backlog and provides long-term revenue, a positive for the stock.

    A major new contract that adds to Siemens Energy's order book and future earnings.

  • Barclays downgrade to underweight Barclays downgraded Siemens Energy to underweight (sell), warning its €145 billion market value already prices in peak conditions for gas turbines and cash flow. The stock fell 6.55% as investors worried about a possible downturn.

    This is a new analyst action that directly caused a sharp price drop and reflects valuation concerns.

  • Weak German economy weighs on demand Germany's services sector shrank at the fastest pace in over three years, signaling economic weakness. This could reduce demand for Siemens Energy's products and services, and the stock dropped 5.5% on the news.

    Macroeconomic data points to lower demand, a headwind for Siemens Energy's sales.

▲2▼2

Siemens Energy wins new orders but faces valuation downgrade

  • New offshore wind contract Siemens Energy won a contract to supply transmission technology for the North Sea Connector 2 offshore wind project, which will handle up to 2 gigawatts. This adds to its order book and supports future revenue, pushing the stock up.

    This is a new contract win that directly boosts demand for Siemens Energy's products.

  • Oman power plant deal Siemens Energy will supply six gas turbines and generators for two power plants in Oman, plus 20-year service agreements. This large order increases its backlog and provides long-term revenue, a positive for the stock.

    A major new contract that adds to Siemens Energy's order book and future earnings.

  • Barclays downgrade to underweight Barclays downgraded Siemens Energy to underweight (sell), warning its €145 billion market value already prices in peak conditions for gas turbines and cash flow. The stock fell 6.55% as investors worried about a possible downturn.

    This is a new analyst action that directly caused a sharp price drop and reflects valuation concerns.

  • Weak German economy weighs on demand Germany's services sector shrank at the fastest pace in over three years, signaling economic weakness. This could reduce demand for Siemens Energy's products and services, and the stock dropped 5.5% on the news.

    Macroeconomic data points to lower demand, a headwind for Siemens Energy's sales.

Electricity Generating Public Company Limited (EGCO.BK)

Q3 2026
▲3▼1

EGCO's profit collapsed but US deals and asset sales offer new growth

  • Profit collapse and forecast cuts EGCO's core profit fell 95% due to tax and currency hits, leading analysts to slash 2026 profit forecasts by 30–40%, with Yuanta cutting its estimate to 3.337 billion baht.

    This explains the major negative force on the stock during the quarter.

  • US renewable and gas acquisitions EGCO acquired a 49% stake in US Pinnacle IV renewables (339 MW) and completed the 45.05% Astoria Energy II gas plant purchase, adding 250–330 million baht and ~400 million baht annually, respectively.

    These new investments provide future earnings growth and diversification.

  • Asset sales and spending plans EGCO sold BPU and KLU stakes for a 1–1.4 billion baht Q3 gain, and plans ~30 billion baht H2 spending, 2–3 M&A deals, and a ~3 billion baht Ban Pong gain.

    These actions boost near-term cash flow and signal growth ambitions.

  • Broker upgrades Brokers upgraded EGCO to Buy with target prices of 124–187 baht, reflecting confidence in the company's turnaround and growth pipeline.

    Upgrades can positively influence investor sentiment and demand for the stock.

August 2026
▲3▼1

EGCO profit collapse offset by US renewables deal and H2 spending plans

  • Quarterly core profit collapse EGCO's core profit fell 95% in the quarter due to tax and currency hits, prompting analysts to cut 2026 forecasts by 30–40% and expect weak Q2 net profit.

    This is the main negative force that pressured the stock during the period.

  • US renewables acquisition EGCO closed a 49% stake in US Pinnacle IV renewables (339 MW), lifting renewable capacity to 1,785 MW and adding 250–330 million baht in annual profit.

    This is a concrete positive event that expands EGCO's renewable footprint and earnings.

  • H2 spending and M&A plans EGCO plans ~30 billion baht of H2 spending, 2–3 M&A deals, and expects a ~3 billion baht gain from Ban Pong, signaling growth and cash generation.

    These plans provide a positive outlook and potential catalysts for the stock.

  • Long-term growth drivers Data center demand shifting to the EEC, the renewables-friendly draft PDP2026, a top-three DJ BIC sustainability ranking, and gas technology leadership support EGCO's long-term growth.

    These structural factors underpin future demand and position EGCO favorably.

Latest
▲3▼1

EGCO buys US renewables, but weak Q2 and profit cuts weigh

  • Q2 profit slump and big forecast cuts Asia Plus, KGI, Tisco and Krungsri all slashed 2026 profit forecasts by 30-40% and expect Q2 net profit to fall 40-71% year-on-year on FX losses, maintenance and weak Yunlin and Paju output. This near-term earnings weakness keeps pressure on the shares.

    It explains the main drag on EGCO's price this period.

  • US Pinnacle IV renewables deal closes EGCO completed the purchase of a 49% stake in the 339 MW Pinnacle IV wind and solar portfolio in the US, adding immediate cash flow and lifting its renewable capacity to 1,785 MW. Brokers see 250-330 million baht extra profit a year and a 5 baht target-price boost.

    It is the biggest new positive event for EGCO this period.

  • PDP2026 plan opens growth pipeline The draft PDP2026 favours renewables, storage and flexible gas, and analysts expect approval by October 2026 with auctions from mid-2027. EGCO's existing plant sites and plans to bid for new domestic projects and direct PPAs give it a long-term growth path.

    It shows the policy-driven growth story that supports EGCO's future earnings.

  • Sustainability ranking and gas technology edge EGCO ranked top three globally in the DJ BIC sustainability index for emerging-market electric utilities, and at Gastech 2026 it showcased hydrogen blending, ammonia co-firing and carbon capture. This supports its ESG profile and long-term licence to operate.

    It highlights a non-financial strength that can attract ESG-focused investors.

September 2026
▲3▼1

EGCO closes US gas deal, sells stake, wins broker upgrades

  • Astoria Energy II acquisition completed EGCO closed its 45.05% purchase of New York's 615 MW Astoria Energy II gas plant, adding roughly 400 million baht in annual US profit from 2027 and expanding its overseas footprint.

    This is the period's biggest new event, directly supporting future earnings and the stock's positive re-rating.

  • BPU and KLU stake sale completed EGCO finished selling its 49% stake in BPU and KLU, booking a 1–1.4 billion baht special profit in Q3, which boosts near-term earnings and supports the dividend outlook.

    This completed asset rotation provides a concrete near-term earnings boost and was not previously reported as done.

  • Broker upgrades and buy calls KGI upgraded EGCO to Buy with a 6.50 baht dividend forecast, and five more brokers issued buy calls with targets of 124–187 baht, citing US profit, data centre upside, and margin relief from a stronger baht and lower oil prices.

    Analyst upgrades and target prices directly influence investor sentiment and demand for the stock.

  • Yuanta cuts 2026 profit forecast Yuanta lowered its 2026 profit forecast to 3.337 billion baht, citing weaker contributions from Yunlin wind and Paju ES, and noted that data centre profits remain years away, providing a counterweight to the positive news.

    This is the main negative development in the period, showing that not all analysts share the optimistic view.

▲3

Brokers turn bullish on EGCO as US gas deal and data centre bets build

  • Brokers raise EGCO targets on Astoria Energy II deal CGSI, Tisco, Krungsri, Finansia and Yuanta all published buy or add calls this week, with target prices from 124 to 187 baht. They expect the 45% US gas plant stake to add about 400 million baht profit a year from 2027, lifting earnings forecasts and drawing income investors.

    This is the main new force pushing EGCO shares up this period.

  • Data centre and PPA renewal upside priced in Finansia says a possible 300MW data centre in Rayong could add about 3 baht per share, and renewing roughly 1GW of expiring power contracts could add about 10 baht. Google's planned 1 billion dollar Thai data centre investment also supports long-term electricity demand.

    New analyst detail shows fresh growth options beyond the US deal.

  • Weaker dollar debt and lower oil costs help margins The baht at about 33.45 per dollar is stronger than July's 34.0, cutting the cost of EGCO's dollar loans, which are 50-60% of total debt. Falling crude oil also points to lower gas costs for power plants, easing pressure on earnings.

    Explains a new, quieter support for EGCO's finances and profits.

  • Q3 profit rebound expected, but 2026 forecast cut Yuanta sees Q3/2026 profit rising on Lao hydropower seasonality, US gas plants and the QPL plant returning to normal, and expects a 3.25 baht second-half dividend. But it cut its 2026 forecast to 3.337 billion baht on weaker Yunlin wind and Paju ES contributions.

    Gives the fair counterweight: near-term recovery but a trimmed 2026 number.

▲4

EGCO locks in US gas growth and dividend upgrade as data center rules tighten

  • EGCO closes US Astoria Energy II acquisition EGCO signed a deal to buy 45.05% of the 615 MW Astoria Energy II gas plant in New York City, with a long-term contract with NYPA. This expands its US growth base and supports future earnings, helping lift the shares.

    This is a major new investment that directly supports EGCO's growth strategy and future profits.

  • KGI upgrades EGCO to Buy on 6.50 baht dividend KGI raised its rating to Buy and target price to 145 baht, expecting a 6.50 baht dividend for 2026. Higher dividend expectations and a stronger outlook can attract income investors and support the share price.

    This is a new analyst upgrade that directly affects investor expectations and the stock's appeal.

  • Tighter data center rules favor EGCO's clean power push Thailand suspended 166 data center projects and is drafting stricter rules that push operators to buy clean power and move to industrial estates. EGCO is seen as a beneficiary, though profits from data centers are still years away.

    This is a new regulatory development that could open long-term demand for EGCO's power, but with limited near-term impact.

  • Ban Pong-Khlong Luang stake sale completed EGCO closed the sale of a 49% stake in BPU and KLU to J-POWER for about 2.8 billion baht, expecting a special profit of 1-1.4 billion baht in Q3 2026. This boosts near-term earnings and funds new investments.

    This is a new completed transaction that directly adds to Q3 profit and supports the growth strategy.

▲2▼1

EGCO's H2 growth bets offset weak Q2 profit

  • Q2 core profit collapses on tax hit EGCO's second-quarter core profit fell 95% from the prior quarter to just 45 million baht, far below analyst estimates, because of higher-than-expected tax expenses. First-half core profit was only a quarter of the full-year forecast, so the market may lower profit expectations and pressure the shares near term.

    This is the main negative force on the stock and explains why profit expectations are being cut.

  • 30 billion baht H2 spending and M&A push EGCO plans to spend about 30 billion baht in the second half on gas plants, renewables and asset rotation, and is negotiating 2-3 M&A deals. It also expects a roughly 3 billion baht gain from selling its Ban Pong stake in Q3. This supports future growth and near-term earnings.

    This is the clearest new positive catalyst for growth and cash flow.

  • Data center demand shifts to EEC Bangkok's plan to pause new data center permits is pushing operators toward the Eastern Economic Corridor, where EGCO has land and power assets. Analysts say EGCO and peers will benefit long term as data center power demand grows, and EGCO is in talks for a 200-400 MW data center deal.

    This is a new demand driver that could add long-term power sales for EGCO.