Legrand Lifts Outlook as Clients Pour Billions Into Data Centers

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessLegrand Lifts Outlook as Clients Pour Billions Into Data CentersLegrand SA boosted its sales guidance as customers continue to invest heavily in artificial intelligence infrastructure.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Legrand SA boosted its sales guidance as customers continue to invest heavily in artificial intelligence infrastructure.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe French electrical equipment maker now expects organic sales growth of between 8% and 10% this year, up from 4% to 7% growth earlier, driven by data centers, energy transition solutions and acquisitions. Data centers were the key performance driver in the first half, delivering organic growth of more than 30%, Legrand said in a statement. The company made several acquisitions over the period to expand its offering in that market, including a Chinese rack manufacturer and a Malaysian specialist in power protection solutions.“Ten years ago we were a small player,” Chief Executive Officer Benoit Coquart said on a call with journalists. “Now we’re present in the totality of the data center market”Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againLegrand and its peers — including fellow French company Schneider Electric SE, Switzerland’s ABB Ltd. and US-listed Vertiv Holdings Co. — provide the infrastructure essential to server farms, including electrical equipment and cooling technologies. Their products are in growing demand as hyperscalers pour billions into AI investments. Prices for raw materials rose about 4% in the second quarter, including oil derivatives due to the conflict in the Middle East, Coquart said. Growth in the region remained strong, he added, as construction sites were still active in Dubai and Saudi Arabia through the disruptions. Legrand’s shares were upgraded to buy earlier this month by Barclays analyst George Featherstone, who said investors are underestimating demand for AI data centers. He expects the market for the relevant electrical equipment, cooling and related services to reach $140 billion in 2028.HVAC manufacturer Carrier Global Corp. raised its guidance on Tuesday as it benefited from strong demand for data center cooling solutions. Electrical system supplier GE Vernova Inc. shares dipped when its increased guidance was seen as “relatively modest,” according to Citi analysts, disappointing investors after an impressive rally. This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.