Siemens Energy reported that its profits more than tripled in its third fiscal quarter, while orders and revenues reached record highs. Third-quarter orders on a comparable basis grew by more than 8.5% on year. The German maker of energy equipment's profit before special items more than tripled to 1.62 billion euros ($1.87 billion), up from 497 million euros the same period a year earlier.

Profit margin before special items—a key profitability metric—for the three months ended June 30 was 14.2% compared to 5.1% for the comparable period last year. The company also expects to come in at the higher end of its full fiscal-year guidance for profit margin before special items, which it said in May would be between 10% and 12%. The strong results reflect robust demand for Siemens Energy's equipment and services across global energy markets.