Siemens Energy Piles Into Buybacks as Record Orders and Slumping Stock Create an Opening

Siemens Energy has repurchased €142M in shares since early June, accelerating buybacks amid a 20% pullback from April highs, while order backlog hits record €154B.

The gap between Siemens Energy’s operational muscle and its share price has rarely been wider — and the company is exploiting it with conviction. Since launching the second tranche of its share repurchase program earlier this month, the German engineering group has scooped up roughly 933,000 of its own shares for a total outlay of around €142 million, an average price of about €152 apiece. Nearly 700,000 of those were snapped up in the past week alone, signaling an accelerated pace in the face of a market pullback.

The buying spree comes as the stock sits more than 20% below its April peak. On Wednesday, shares climbed 2% to €157.44, trimming the year-to-date advance to a still-respectable 28%. But the recent correction — the stock closed at €153.94 as recently as Tuesday — has left it trading below its 50-day moving average of roughly €169. That technical hurdle marks the first resistance level analysts are watching; a decisive break above it could reopen the path toward the old record high.

Siemens Energy is keeping a busy calendar in the coming weeks. Chief Financial Officer Maria Ferraro is set to face investors Wednesday at the J.P. Morgan European Industrials Conference in London, followed by an appearance at the ODDO BHF London Forum the next day. Although no fresh quarterly numbers are due, the market is looking for forward-looking commentary. A pre-close call is scheduled for late June, with official second-quarter results slated for August 5.

The buoyant buying activity rests on a foundation of extraordinary order intake. In the second quarter, Siemens Energy booked new projects worth €17.7 billion, swelling its backlog to a record €154 billion. That momentum prompted management to lift its full-year outlook in May. For fiscal 2026, the company now targets revenue growth of 14% to 16%, free cash flow of roughly €8 billion, and net profit of around €4 billion.

The buyback program, which runs until the end of September, has a total budget of up to €1 billion. The shares repurchased will be used either for employee equity programs or retired entirely. With the stock still nursing double-digit losses from its high and the next catalyst — the August earnings release — weeks away, the steady stream of buybacks is providing a floor under the share price. Whether it will be enough to drive the stock back above the 50-day line and toward the April record remains the immediate question for traders.