Schneider Electric Lifts 2026 Outlook as Third-quarter Revenue Grows Amid Data Center Demand

04:27 AM EDT, 10/16/2026 (MT Newswires) -- Schneider Electric (SU.PA) raised its full-year outlook as it posted a 17% jump in third-quarter revenue amid growing data center demand. The Paris-listed energy technology company increased its targeted organic revenue growth range for 2026 to 12% to 14% from the previously expected range of 10% to 13%, a Friday filing showed. The growth is expected to help bring organic adjusted EBITA growth of 18% to 21%, compared with the previously expected 14% to 19%. Total group revenue for the three months ended Sept. 30 jumped 16.9% organically and 17.9% on a reported basis to 11.46 billion euros. North America, the largest revenue contributor, saw a 19.9% organic jump in revenue, clocking in at 4.64 billion euros. "As expected, data centers remained a key growth driver as we continue to execute on our backlog while seeing triple-digit demand growth in the quarter, providing increasing visibility into 2027 and 2028, Schneider Electric Chief Executive Olivier Blum said. "More broadly, demand remained healthy across all four end-markets, supporting another record backlog at quarter-end." The products segment, which generated 48% of the total third-quarter revenue, grew 17% on an organic basis during the reporting period. The systems segment was up 22%, while software and services registered a 7% increase. Schneider Electric reiterated that it expects to pause its share buyback program of 2.5 billion euros to 3.5 billion euros in 2027 and 2028, with the program accelerating thereafter before its targeted completion by the end of 2030. The company's shares were down more than 1% during early trading.