logo
  

ABB Q2 Profit Down, Orders Rise; Sees Margin Improvement In FY22 - Quick Facts

Swiss engineering company ABB Ltd.(ANN.L,ABB) reported Thursday that its second-quarter net income attributable to the company declined 50 percent to $379 million from last year's $752 million.

Basic earnings per share were $0.20, down 47 percent from $0.37 a year ago.

Operational EBITA was $1.14 billion, up 2 percent from prior year's $1.11 billion. Comparable operational EBITA grew 9 percent.

Revenues dropped 3 percent to $7.25 billion from last year's $7.45 billion. Comparable revenue growth was 6 percent.

Orders were $8.81 billion, a growth of 10 percent on a reported basis and 20 percent on a comparable basis.

Looking ahead for the third quarter, the company anticipates double-digit comparable revenue growth and the Operational EBITA margin to sequentially improve, excluding the 60 basis points positive impact from special items in the second quarter.

For fiscal 2022, the company expects a steady margin improvement towards the 2023 target of at least 15 percent, supported by increased efficiency.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ford Motor is increasing the entry-level price of its electric F-150 Lightning pickup citing rising costs and supply chain issues amid increasing demand. This is the second price hike after a recent increase in August. The starting price of the 2023 model year pickup will be raised by $5,000 by October 24, reports said citing an email statement. Constellation Brands, Inc. (STZ) said it delivered another quarter of strong business performance. Beer Business achieved double-digit net sales growth for the quarter, while Wine and Spirits net sales rose 1%. The solid top-line performance of its Beer and Wine and Spirits Businesses in the first half... Tyson Foods announced its "OneTyson" plan, under which it will bring together corporate team members from three corporate locations in Illinois and South Dakota to its world headquarters in Arkansas. Team members from the corporate locations of Chicago, Downers Grove in Illinois, and Dakota Dunes area in South Dakota are expected to begin the phased relocation in early 2023 to Springdale.
Follow RTT