Guidance ledger · Q2 FY26

Siemens Ltd SIEMENS

3 revisions on record · 0 lowered · 1 raised — the strikethrough is what management used to say

refuses forward guidance · held across quarters

Holding view → · latest concall · The pulse

↑ raised Smart Infrastructure profitability (FY25 reported) Q4 FY24 → Q2 FY26

~~Smart Infrastructure margins (qualitative)~~ → 13.6% profitability, expanded margin by 20 basis points

“12.5 billion in fiscal year ’25, plus 13.6% profitability”

→ narrowed Digital Industries margin band Q4 FY24 → Q2 FY26

~~Margin band qualitative~~ → 6-8% transfer-price-driven band

“He gave the guidance on 6%-8% because it's transfer price driven”

→ narrowed Energy demerger status Q4 FY24 → Q4 FY25

~~Board approval to proposal~~ → Effective 1 March 2025; financials retain 5 months

“Siemens Energy demerger has been completed with the effective date of 1st of March 2025”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.