Schneider Electric raises 2026 targets again on booming data centre demand
Oct 16 (Reuters) Schneider Electric raised its 2026 core profit and revenue targets for the second time this year on Friday, as the French industrial group cements its role as a key supplier to big cloud companies building AI data centres. Schneider expects its adjusted earnings before interest, taxes, depreciation and amortization to grow between 18% and 21% organically in 2026, instead of the previously forecast 14% to 19%. It sees organic revenue growth between 12% and 14%, versus the earlier range of 10% to 13%. Data Centers remained a key growth driver as we continue to execute on our backlog while seeing triple-digit demand growth in the quarter, CEO Olivier Blum said in a statement. Once mainly known for its circuit breakers and industrial electrical equipment, Schneider has emerged as one of the biggest industrial beneficiaries of the AI boom, building the backbone of data centres, supplying everything from cooling units and server racks to critical power distri