logo
Share SHARE
FONT-SIZE Plus   Neg

ABB Q1 Profit Rises 5% - Quick Facts

ABB Ltd. (ABB) reported that first quarter net income attributable to company increased 5 percent to $685 million from $655 million in the same period last year. Basic net income per share was $0.30, compared to $0.29 in the previous year period.

Revenues were $8.907 billion, versus $8.402 billion in the year-ago quarter. The company said that revenues increased in all divisions and were 8 percent higher than the same quarter a year earlier, led by 21% growth in Discrete Automation and Motion and 9 percent in Power Products.

Operational EBITDA declined 7 percent, with an operational EBITDA margin of 13.9 percent.

The company noted that more than half of its profitability decline was attributable to the challenging demand environment in China, especially in the construction and transportation sectors.

Looking forward, the company said that the long-term outlook for company remains positive and added that overall demand to provide ample opportunities for profitable growth in 2012 and also confirmed its longer-term Group and divisional targets.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Electric car maker Tesla's Chief Elon Musk confirmed that there will be no discount on new cars. Through several tweets and an email addressing its employees, Musk said, "It is absolutely vital that we adhere to the no negotiation and no discount policy that has been true since we first started taking orders 10 years ago." Shares of National Beverage Corp. fell about 15 percent on Wednesday after short selling firm Glaucus Research Group has said it is shorting the soft-drink maker and accused the company of manipulating earnings. In a research report, Glaucus alleged that National Beverage achieved its "remarkable history of financial performance in part by manipulating earnings." Canadian pipeline operator Enbridge Inc. said it has agreed to sell its liquids pipeline assets in the South Prairie Region, including the Saskatchewan pipeline system, to privately-held midstream company Tundra Energy Marketing Ltd. for C$1.075 billion in cash.
comments powered by Disqus
Follow RTT