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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  ABB Ltd    ABBN   CH0012221716

ABB LTD

(ABBN)
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ABB : 3Q Adjusted Earnings, Revenue Beat Expectations

10/23/2020 | 01:21am EST

By Pietro Lombardi

ABB Ltd. posted better-than-expected revenue and adjusted earnings for the third quarter, helped by a strong recovery in China and cost-savings efforts, and despite the continued impact of the coronavirus pandemic.

The Swiss engineering company said Friday that operational earnings before interest, taxes and amortization--an adjusted metric that measures income from operations--was $787 million in the third quarter, down 2% on year.

Net profit for the quarter, which includes gains on the sale of the company's Power Grids business to Hitachi Ltd., was $4.53 billion, compared with $515 million a year earlier.

Revenue fell 4% to $6.58 billion, while orders declined 9% to $6.11 billion.

Analysts had forecast ABB's third-quarter revenue at $6.30 billion, operational Ebita at $689 million and net income at $4.94 billion, according to a consensus provided by the company.

"ABB expects fourth-quarter order and revenue growth rates to remain challenged on a year-on-year basis and revenue growth rates to decline sequentially," it said.

Fourth-quarter operating margins should grow on year but decline from the third quarter.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com; @pietrolombard10

(END) Dow Jones Newswires

10-23-20 0120ET

Stocks mentioned in the article
ChangeLast1st jan.
ABB LTD 0.21% 24.04 Delayed Quote.2.87%
HITACHI, LTD. 0.81% 4099 End-of-day quote.-11.39%
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Financials (USD)
Sales 2020 25 781 M - -
Net income 2020 5 508 M - -
Net Debt 2020 1 827 M - -
P/E ratio 2020 10,1x
Yield 2020 3,10%
Capitalization 55 452 M 55 538 M -
EV / Sales 2020 2,22x
EV / Sales 2021 2,17x
Nbr of Employees 110 000
Free-Float 84,2%
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Technical analysis trends ABB LTD
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Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 24
Average target price 26,47 $
Last Close Price 26,93 $
Spread / Highest target 14,6%
Spread / Average Target -1,73%
Spread / Lowest Target -22,6%
EPS Revisions
Managers
NameTitle
Björn Klas Otto Rosengren Chief Executive Officer
Peter R. Voser Chairman
Timo J. Ihamuotila Chief Financial Officer
Jacob Wallenberg Vice Chairman
Matti Juhani Alahuhta Independent Non-Executive Director
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