Alstom reported strong third-quarter results for its fiscal year 2024/25, with sales of €4.67 billion, surpassing the €4.47 billion estimate. The company's order backlog reached a record €94.7 billion, exceeding the €93.65 billion forecast, while new orders totaled €4.26 billion, representing a 22.2% decline compared to the same period last year. Despite robust revenue growth of 9.8% year-over-year, driven by services and signaling, Alstom's stock declined due to concerns over intensified competition and a reduction in production targets for rolling stock, now set at 4,300 to 4,400 units, down from 4,400 to 4,600 units. The company confirmed its fiscal year 2024/25 outlook, including an adjusted operating margin of approximately 6.5% and free cash flow generation between €300 million and €500 million. Alstom highlighted challenges in its supply chain and competition from Chinese firm CRRC but maintained confidence in its long-term profitability and market position.