Alstom's U.S.-listed shares rose 1.3% after the French rail manufacturer posted third-quarter revenue of €4.79 billion, beating the €4.73 billion consensus estimate. Organic sales grew 5.9%, driven by what the company called "outstanding commercial momentum" and a sharp acceleration in orders.

Orders more than doubled to €9.6 billion, lifting the backlog to €100.3 billion. CEO Henri Poupart-Lafarge cited landmark contracts, including the new Paris metro launch and progress on the Avelia Horizon high-speed platform. Rolling stock accounted for 63% of intake, with major wins in Poland, Canada, and Australia.

The company confirmed its full-year guidance, targeting organic sales growth above 5% and a book-to-bill ratio above 1. With a €200-400 million free cash flow forecast, investors will watch execution on its medium-term ambitions, including at least €1.5 billion in free cash flow through FY 2026/27.