Schneider Electric Reports 13.3% Q2 Revenue Growth in North America, Expands Stake in Smart Building Software Firm.

Schneider Electric’s Q2 revenue in North America rose by 13.3% organically year over year to $3.8 billion, or 3.5 billion euros, driven by growth in its energy management group and its data center and infrastructure end-markets. North America revenues also saw an organic 10.4% year-over-year growth to nearly $7.1 billion in the first half of 2024. This growth was driven by an organic 15.5% year over-year increase in North American energy management revenue. The energy management segment’s organic second-quarter growth rate was driven primarily by “good product growth in the U.S.,” supported by backlog execution, and strong growth in systems business. Schneider Electric also signed a deal to increase its ownership in Planon Beheer building management software firm from a minority stake of 25% to a controlling stake of 80%. This move aligns with the company’s agnostic software strategy and will strengthen its ability to capitalise on the growing smart building software market. Product revenues, accounting for 52% of second-Q2 revenue, organically rose 1%, and overall growth for nearly $16 billion in total.