Siemens (SIE GY) plans $7 billion buyback as orders rise, profit misses

Siemens AG said on May 13, 2026, it will repurchase up to 6 billion euros ($7 billion) of shares over as long as five years, signaling confidence in cash generation despite tariffs, inflation and geopolitical uncertainty. Shares fell as much as 1.5% in early Frankfurt trading. Second-quarter orders rose 11%, driven by software and smart building infrastructure demand, while profit declined and slightly missed expectations. JPMorgan analysts said the buyback came earlier than expected but was smaller or longer-dated than hoped. Bernstein analysts said no upgrade to group guidance was likely to disappoint investors. Digital Industries profit rose 35% on higher software revenue, prompting Siemens to raise that unit’s revenue growth and margin outlook. Smart Infrastructure orders rose 26%, helped by data center demand, while Mobility profit fell because of U.S. tariffs and project delays, leading Siemens to cut the unit’s revenue outlook.