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Limited seats available, first come first served. Let us embark together on this sustainable journey! [Click to register] French industrial giant Schneider Electric announced on October 16 that its third-quarter revenue reached a record 11.46 billion euros, up 17.9% year-on-year, beating market expectations of 11.13 billion euros; organic growth was 16.9%, significantly exceeding expectations of 13.8%. Demand for data center equipment was the main growth driver, with related business demand growing more than 100% year-on-year. The company consequently raised its full-year 2026 financial targets and stated that strong order performance has increased the visibility of business growth from 2027 to 2028.

Data Center Demand Doubles, Energy Management Business Grows 18.8%

Schneider Electric CEO Olivier Blum stated that third-quarter data center demand achieved triple-digit growth, driving the company's order backlog at the end of the quarter to a new record high. Among this, the energy management business generated revenue of 9.62 billion euros, above expectations of 9.3 billion euros, with organic growth of 18.8%, exceeding market expectations of 15.1%. The North American market performed notably well, with energy management business growing 20.3%, primarily driven by U.S. data center construction. The industrial automation business generated revenue of 1.85 billion euros, with organic growth of 8.1%, also slightly above market expectations. From a product structure perspective, the systems business grew organically by 22%, mainly driven by demand for prefabricated data center solutions and cooling equipment; the products business grew 17%, and the software and services business grew 7%.

North American Business Grows 19.9%, Full-Year Revenue Growth Target Raised

Regionally, the North American market achieved organic growth of 19.9% in the third quarter, contributing approximately 40% of the company's revenue. Europe grew 8.6%, South Asia and international markets grew 13.2%, and China and East Asia markets grew 26.1%. In the first nine months of this year, Schneider Electric's cumulative revenue reached 32.69 billion euros, with organic growth of 15%. Based on the strong third-quarter performance, the company raised its 2026 financial targets. However, the announcement summary did not disclose the specific adjusted growth rate range. Schneider Electric expects that at current exchange rates, currency fluctuations will reduce full-year revenue by 300 million to 400 million euros, and acquisitions and divestitures are expected to bring approximately 50 million euros in negative impact.

Advancing $22.6 Billion Acquisition of PTC to Expand Industrial Software Business

Schneider Electric recently also announced that it will acquire U.S. industrial software company PTC for $205 per share in cash, with the equity transaction valued at approximately $22.6 billion, expected to be completed before the third quarter of 2027. The company expects the transaction to achieve approximately 250 million euros in cost savings by the third year after completion and contribute approximately 800 million euros in additional revenue. In addition, Schneider Electric announced on September 24 the acquisition of Shelly Group for approximately 1.2 billion euros, with the transaction expected to be completed in the first quarter of 2027. As global AI infrastructure investment continues to expand, Schneider Electric's data center power distribution, power supply management, and cooling equipment businesses are becoming the main drivers of the company's growth.