ABB Ltd. (ABB) reported earnings on Thur 4 Feb 21 (b/o)

Note May 2023: ABB delisted from the NYSE. The last trading day of the ADRs on the NYSE was May 22, 2023, and the delisting became effective on May 23, 2023.

  

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ABB Ltd beats by $0.07, beats on revs

Reports Q4 (Dec) earnings of $0.26 per share, $0.07 better than the two analyst estimate of $0.19; revenues rose 1.6% year/year to $7.18 bln vs the $6.96 bln S&P Capital IQ Consensus.

Outlook - Short-term outlook

• Market uncertainty due to COVID-19 increased through the fourth quarter. The outlook remains muted for segments such as oil and gas, conventional power generation and marine, while raw materials costs are rising. That said, there are signs of positive development in general industry and machine builders' segments, while end-markets including buildings, distribution utilities, data centers, consumer electronics and food and beverage are expected to grow robustly.
• Against this backdrop, and a tough comparison base for the first quarter of 2021, ABB envisages a return to positive year-on-year comparable order developments during the second quarter period. Comparable revenue growth is expected to prove resilient in the first quarter, supported by backlog conversion, although Industrial Automation (henceforth, Process Automation) is likely to be more challenged. The operational EBITA margin for the group is expected to clearly improve year-on-year, supported by improvements in most business areas, and to remain largely stable on a sequential basis.
• Management's base case is for a gradual improvement in market conditions as 2021 progresses. That said, forward visibility remains limited, particularly regarding the service market recovery in Process Automation. Given the above, ABB expects comparable revenue growth to be broadly in line with its long-term target range and expects clear margin accretion for the full year 2021 compared to full year 2020. ABB also expects strong EPS accretion8 and solid cash delivery for the year.
• ABB's financial targets, as established at the November 2020 Capital Markets Day, remain unchanged.

Earnings this week : Feb 1 - 5, 21 (wk 5)

Monday (Feb 1)

• Morning:  ON OTIS TMO
• Afternoon: ARE CBT CRUS CACC EZPW FN HLIT IBTX KMPR KMT KRC NXPI OMCL PCH RMBS SKY VRTX WWD

Tuesday (Feb 2)

• Morning: BABA ALGM ABG ATKR ATHM TECH BP BR CTLT COP ETN EMR ENTG AQUA XOM RACE BEN GWW GPK HAE HLNE HOG HCA HUBB IDXX IMO LII LITE MHO MMP MAN MPC MCK MDC MPLX PFE PBI PINC ST SIRI SYY UPS WDR
• Afternoon:  ATGE GOOG AMZN AMCR DOX AMGN APAM ATO EPAY BDN BRKS CMG CB EA FEYE FBHS GL ICHR MANH MTCH MRCY PACW PKI POWI SANM SCSC STE TENB VIAV

Wednesday (Feb 3)

• Morning:  ABBV APO APTV AVY BIIB BSX BIP CPRI CHKP CNHI DT EPD EVR HWM HUM INGR LGND LAD MTOR MIME MSGS PFGC SC SNDR SMG SLAB SPOT TGI VNE WNC
• Afternoon:  ADTN AFL ALGN ALGT ALL UHAL AFG ANGI ASH AVB AVTR AXTA CHNG CCMP CTSH CTVA CSGS ELF EBAY ECHO PLUS FORM GRUB THG HI IEX INOV IAC KLAC KLIC LCI LNC MXL MDU MET MAA MWA MUSA NTGR PYPL QRVO QCOM RYN RGLD SIMO SU TSE TBI TTMI UGI VVV YUMC

Thursday (Feb 4)

• Morning: ABB WMS AGCO APD ALXN ABC AME ARW BLL BAX BCE BDX BV BMY GOOS CG CI CLX CMS COR CMI GPI HSY HIMX IP ICE JHG LANC LEA LSPD MMS MPW MRK MDP MSGN NYT NJR NS ODFL PH PTEN BTU PENN PM PBH DGX RL RDS.A SBH SNA SR TPR TKR TW VSTO WD WEC XYL YUM
• Afternoon:  ATVI AINV BHE BILL CPT CSL COLM OFC DECK DLX DXC ENVA ESS EXPO FLT F FTNT FTV GILD GPRO HIG HUBG KN LGF.A LPLA MTD MCHP MTX MOBL MPWR MSI NFG NBIX NEWR NWSA NLOK NOV OHI ONTO OTEX PCTY PTON PFSI PINS PLT POST PFPT PRO PRU SKX SKYW SNAP SYNA TMUS TDC TWST U UNM VREX WERN WWE WYNN ZEN

Friday (Feb 5)  

• Morning:  ADNT AON BERY CAH CBOE ROAD EL EAF HRC ITW LAZ REGN SNY SPB TT ZBH

ABB Ltd (ABB) reported earnings on Wed 23 Oct 19 (b/o)

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ABB Ltd. said Wednesday that third-quarter net profit and revenue fell, largely due to weaker market conditions hitting its robotics and automation business.

The Swiss engineering company said net profit for the period was $515 million, compared with $603 million a year earlier.

Revenue for the period fell 3% to $6.89 billion, compared with $7.10 billion the previous year. The company restated the 2018 figures to reflect the sale of its power-grids business.

Operational earnings before interest, taxes and amortization fell to $806 million from $814 million, the company said.

ABB beat analyst expectations for net profit--$363 million--and operational Ebita--$792 million--, according to consensus provided by the company.

The company expects light revenue growth and improved operating margins for the full year, it said.

Earnings this week : Oct 21 - 25, 19 (wk 43)

Monday (Oct 21)

• Morning: HAL LII PETS SAP
• Afternoon: ACC ELS HXL HMST LOGI AMTD  TACO

Tuesday (Oct 22)

• Morning: ABG BIIB CNC GATX HOG HAS JBLU KMB LMT MCD PCAR  PII PG DGX SERV  SHW TRV  TTS  UTX UPS
• Afternoon: BYD CMG CNI CSGP CSL DFS EEFT EQR FMBI FULT HA HCSG HIW IRBT LRN MANH MPWR MTH NAVI NBHC NBTB NTB SIX SKX SNAP TER TRMK TXN UCBI USNA WHR WRB

Wednesday (Oct 23)

• Morning: ABB ALKS ALXN ANTM APH AVY BA BANC BCO BKU BOKF BPOP BSX BX CADE CAT CLF CMC CSTM EVR FCFS FCX FSV GD GWW HLT HRI HTLD IVZ KNX LAD LLY MHO MKTX NDAQ NSC NTRS OC PB PNR RCI RES ROL SALT SCL SLAB SLGN TDY TMO TZOO UNF WGO WM
• Afternoon: AEM AKR ALGN AMP APY ARI ASGN BCOV BMRN BXMT CLB CLGX CMRE CP CUBI CUZ CVBF DHT EBAY ECHO EFX EGP EIG ESRT ESS EW F FBHS FFIV FR FTI GGG GL HNI ICLR ISBC KALU KNL KRA KRC LMAT LRCX LSTR LVS MKSI MSA MSFT MX NGVT NOW NTGR NXGN ORLY PKG PLXS PTC PYPL QEP RHI RJF RRC SAVE SEIC SLM SRPT STL SUI TRN TSLA UFPI VAR VMI WPG WSBC XLNX

Thursday (Oct 24)

• Morning: AAL AB ADS AEP AIMC ALLE ASPS AXTA AZN BAX BC BGCP CMCS.A CMS COLB COWN CRI CRS CTS CTXS DHR DOW ENTG FAF FCN GNC GPI GRA HBAN HEES HSY IART KIM LH LUV MMM MNRO MSM MTRN NOC NOK ODFL ONDK ORI PATK PDS PRLB PTEN ROP RS RTN SAH SCHN STM SWK TAL TECK TROW TRTN TSCO TWTR UBSI VC VLO VLY WST XEL
• Afternoon: AFL AJG ALGT ALK AMZN ANIK ASB AUY AVT BHE BJRI BOOM CERN CINF CLS COF COG CSLT CUBE CVA CXP CY DECK DLX EHTH EMN ENVA FET FHB FII FIX FLEX FSLR FTV FWRD GCAP GILD HLI ILMN INTC JNPR KN LOGM LPLA MHK MXL NTUS OIS OMCL OSIS PEB PFG PFPT POWI PRO RMD SBCF SIVB SPSC SWN TNET UHS V VCRA VRSN VVI WERN WRE 

Friday (Oct 125)

• Morning: ALV AON B BEN BUD CHTR GBX GRC GT GVA HUN ITW KEX LEA NRZ PFS PSX PSXP ROCK SBSI SJR TILE UFS VFC VRTS VTR VZ WETF WY YNDX

Reports this week:

• Monday: No economic data scheduled
• Tuesday: September Existing Home Sales (prior 5.49 mln) at 10:00 ET and $40 bln 2-yr Treasury note auction results at 13:00 ET
• Wednesday: Weekly MBA Mortgage Index (prior 0.5%) at 7:00 ET; August FHFA Housing Price Index (prior 0.4%) at 9:00 ET; weekly crude oil inventories (prior +8.0 mln) at 10:30 ET; and $41 bln 5-yr Treasury note auction results at 13:00 ET
• Thursday: Weekly Initial Claims (prior 214,000), Continuing Claims (prior 1.679 mln), September Durable Orders (prior 0.2%), and Durable Orders ex-transportation (prior 0.5%) at 8:30 ET; September New Home Sales (prior 713,000) at 10:00 ET; weekly natural gas inventories (prior +104 bcf) at 10:30 ET; and $32 bln 7-yr Treasury note auction results at 13:00 ET
• Friday: Final October Michigan Consumer Sentiment Survey (prior 96.0) at 10:00 ET

Notable earnings reports: 

• Halliburton (NYSE:HAL), SAP SE (NYSE:SAP) and TD Ameritrade (NASDAQ:AMTD) on October 21; 
• UPS (UPS), McDonald's (MCD), Procter & Gamble (PG), Travelers (NYSE:TRV), United Technologies (NYSE:UTX), Centene (NYSE:CNC), Chipotle (NYSE:CMG), Lockheed Martin (NYSE:LMT), Discover Financial Services (NYSE:DFS), Hasbro (NASDAQ:HAS) and Kimberly-Clark (NYSE:KMB) on October 22; 
• Boeing (BA), Caterpillar (CAT), Microsoft (NASDAQ:MSFT), Anthem (NYSE:ANTM), Blackstone (NYSE:BX), Boston Scientific (NYSE:BSX), Canadian Pacific (NYSE:CP), Cleveland-Cliffs (NYSE:CLF), eBay (NASDAQ:EBAY), Edwards Lifesciences (NYSE:EW), Eli Lilly (NYSE:ELY), Equifax (NYSE:EFX), F5 Networks (NASDAQ:FFIV), Ford (NYSE:F), PayPal (NASDAQ:PYPL), Tesla (TSLA) and General Dynamics (NYSE:GD) on October 23; 
• Intel (INTC), Visa (NYSE:V), Amazon (AMZN), Comcast (NASDAQ:CMCSA), Raytheon (NYSE:RTN), Southwest Airlines (NYSE:LUV), T-Mobile (NASDAQ:TMUS), Twitter (TWTR) and Northrop Grumman (NGC) on October 24; 
• Verizon (NYSE:VZ) and Anheuser-Busch InBev (NYSE:BUD) on October 25. 

=ABB Ltd (ABB) reported earnings on Thur 28 Feb 19 (b/o)

ABB Ltd misses by $0.03, misses on revs; reaffirms medium term targets

• Reports Q4 (Dec) earnings of $0.30 per share, $0.03 worse than the S&P Capital IQ Consensus of $0.33; revenues fell 20.3% year/year to $7.39 bln vs the $9.43 bln S&P Capital IQ Consensus.
• Short- and long-term outlook
  • Macroeconomic signs are mixed in Europe and are trending positively in the United States, with growth expected to continue in China.
  • The overall global market is growing, with rising geopolitical uncertainties in various parts of the world. Oil prices and foreign exchange translation effects are expected to continue to influence the company's results.
• Medium-term group targets confirmed:
  • 3-6 percent annual comparable revenue growth
  • Operational EBITA margin of 13-16 percent
  • Return on Capital Employed (ROCE) of 15-20 percent
  • Cash conversion to net income of approximately 100 percent
  • Basic EPS growth above revenue growth

-=ABB Ltd (ABB) reported earnings on Thur 25 Oct 18 (b/o)

ABB Ltd misses by $0.03, reports revs in-line

• Reports Q3 (Sep) earnings of $0.34 per share, $0.03 worse than the S&P Capital IQ Consensus of $0.37; revenues rose 6.1% year/year to $9.26 bln vs the $9.31 bln S&P Capital IQ Consensus.
• Short- and long-term outlook
  • Macroeconomic signs remain robust in Europe and are trending positively in the United States, with growth expected to continue in China. The overall global market is growing, with rising geopolitical uncertainties in various parts of the world. Oil prices and foreign exchange translation effects are expected to continue to influence the company's results.
  • The attractive long-term demand outlook in ABB's three major customer sectors -- utilities, industry and transport & infrastructure -- is driven by the Energy and Fourth Industrial Revolutions. ABB is well-positioned to tap into these opportunities for long-term profitable growth with its market-leading digital offering ABB Ability, strong market presence, broad geographic and business scope, technology leadership and financial strength.

=ABB Ltd. (ABB) reported earnings on Thur 19 July 18 (b/o)

• ABB Orders Beat Estimate as Power Grid Unit Still Struggles

ABB Ltd. reported second-quarter orders that beat estimates, supporting Chief Executive Officer Ulrich Spiesshofer’s claim that the times of sluggish growth are over for the Swiss maker of industrial equipment.

Orders rose 8 percent on a comparable basis to $9.5 billion, Zurich-based ABB said in a statement on Thursday. That was higher that the $9.16 billion estimate of analysts surveyed by Bloomberg yet slightly below last quarter’s record-high order intake.

The results support Spiesshofer in his quest to bolster margins under the company’s current structure. Cevian Capital AB’s calls for breaking up ABB back in 2016 gained renewed attention this month after the Swedish activist’s pressure led to the resignation of Thyssenkrupp AG’s CEO and chairman.

The operational Ebita margin at ABB’s Power Grids business stayed flat compared to last quarter at 9.7 percent, falling short of the target corridor of 10 to 14 percent the company plans to reach in the current financial year.

ABB has been realigning its products to accommodate a global shift to renewable power sources but has refrained from making large-scale divestments like Siemens AG’s spinoffs or General Electric Co.’s $20 billion in asset sales. Last week, ABB completed its $2.6 billion acquisition of GE Industrial Solutions.

With a decline of 15.9 percent year to date, ABB’s stock is performing much worse than its main competitor Siemens AG which gained 1.9 percent over the same period.

Earnings this week : July 16 - 20, 18 (wk 29)

Earnings expected this week

Monday (July 16)

• Morning: BAC, BLK, JBHT
• Afternoon: NFLX

Tuesday (July 17)

• Morning: UNH, JNJ, GS, PGR, OMC, SCHW, CMA, PLD, FHN, NSM, NEOG
• Afternoon: UAL, CSX, FNF, IBKR, WTFC, HWC, MLNX, PNFP, FULT, MRTN, HOPE, RNST, ADTN, LTXB

Wednesday (July 18)

• Morning: ERIC, NVS, MS, ABT, USB, TXT, GWW, ASML, NTRS, MTB, OACW, MTG, WAFD
• Afternoon: IBM, AXP, AA, KMI, CCK, EBAY, URI, CP, CCI, UFPI, PLXS, PTC, UMPQ, LHO, TCBI, SLG, BXS, RECN, CATY, NDLS, BMI, CNS, CVBF, EGBN, TBK, DWCH

Thursday (July 19)

• Morning: ABB, ADS, BBT, BX, BK, GTLS, DHR, DPZ, DOV, EWBC, FITB, GATX, GPC, HOMB, IIIN, KEY, NUE, PM, POOL, PPG, RCI, RPM, SASR, SAP, SCHL, SBNY, SNA, SON, TSM, TTS, TRV, UNP, WBC, WBS, WNS
• Afternoon: MSFT, COF, CE, CTAS, SKX, SWKS, ISRG, ETFC, SEIC, PBCT, ASB, NWE, WAL, MBFI, FFBC, BDN, FFIN, EXPO, EGP, LLNW

Friday (July 20)

• Morning: GE, HON, SLB, MAN, BHGE, SWK, STT, STI, CFG, RF, KSU, CLF, GNTX, IBKC, SXT, VFC

=ABB Ltd (ABB) reported earnings on Thur 19 Apr 2018 (b/o)

ABB Ltd beats by $0.01, beats on revs 

• Reports Q1 (Mar) operational earnings of $0.31 per share, $0.01 better thanthe Capital IQ Consensus of $0.30; revenues rose 9.8% year/year to $8.63 bln vs the $8.4 bln Capital IQ Consensus.
• Total orders rose 6 percent (16 percent in US dollars), up in all divisions in the first quarter compared with a year ago. Base orders (base orders are classified as orders below $15 million) increased 5 percent (15 percent in US dollars), reflecting growth across all regions. Large orders represented 10 percent of total orders, the same level as a year ago. OUtlook: Macroeconomic signs are trending positively in Europe and the United States, with growth expected to continue in China.
• The overall global market is back to growth whilst still impacted by uncertainties in various parts of the world. Oil prices and foreign exchange translation effects are expected to continue to influence the company's results.

Earnings this week April 16 - 20, 2018 (wk 16)

Look for the following companies to report:

Wed 4/18) after the close 

• AA, AXP, BXS, CATY, CCI, CCK, CNS, CP, CVBF, EGBN, KMI, PIR, PTC, SLG, SNBR, STLD, TBK, TCBI, TMK, UFPI, UMPQ, URI, VMI
• Tomorrow (Thur 4/19) before the open:  ABB, ADS, BBT, BK, BX, DGX, DHR, EWBC, GATX, GPC, GTLS, GWW, HOMB, KEY, MDSO, NUE, NVR, NVS, PBCT, PM, PNR, POOL, PPG, SASR, SBNY, SNA, SON, SYNT, TSM, TTS, WBC, WBS

-=ABB Ltd. (ABB) reported earnings on Thur 8 Feb 2018 (b/o)

ZURICH (AP) _ ABB Ltd. (ABB) on Thursday reported fourth-quarter net income of $393 million.

On a per-share basis, the Zurich-based company said it had net income of 18 cents. Earnings, adjusted for one-time gains and costs, came to 33 cents per share.

The industrial automation company posted revenue of $9.28 billion in the period.

For the year, the company reported profit of $2.21 billion, or $1.03 per share. Revenue was reported as $34.31 billion.

ABB shares have declined 2.5 percent since the beginning of the year.

=ABB Ltd (ABB) reported earnings on Thur 20 Apr 2017 (b/o)

ABB Ltd beats by $0.01, beats on revs :

• Reports Q1 (Mar) earnings of $0.28 per share, $0.01 better than the Capital IQ Consensus of $0.27; revenues fell 0.6% year/year to $7.85 bln vs the $7.77 bln Capital IQ Consensus.
  • Base order growth of 2%
  • Total orders reflects lower large contract awards; book to bill ratio2 1.07x

Short-term outlook

• Macroeconomic and geopolitical developments are signaling a mixed picture with continued uncertainty. Some macroeconomic signs in the US remain positive and growth in China is expected to continue.
• The overall global market remains impacted by modest growth and increased uncertainties, e.g., Brexit in Europe and geopolitical tensions in various parts of the world.
• Oil prices and foreign exchange translation effects are expected to continue to influence the company's results.
• With this and the ongoing transformation of ABB, 2017 is expected to be a transitional year.

=ABB (ABB) reported earnings on Wed 8 Feb 2017 (b/o)

ABB Ltd misses by $0.02, reports revs in-line:

• Reports Q4 (Dec) earnings of $0.33 per share, $0.02 worse than the Capital IQ Consensus of $0.35; revenues fell 2.7% year/year to $8.99 bln vs the $9.03 bln Capital IQ Consensus.
  • Revenues up 1% in constant currency
  • 3% orders growth driven by large contract awards
  • 9% orders growth in the United States and China

• Demand
  • Demand in Europe was subdued due to moderate overall growth and timing of large capital investments. Total orders declined 8% (12% in USD) while base orders were stable (3% lower in USD). Base order demand was positive in Spain, Norway and the United Kingdom while weak in Turkey, France and the Netherlands.
  • The Americas was steady mainly driven by increased momentum for transmission and distribution needs. Total orders were steady in the quarter as large order awards offset a base order decline of 3%. The United States grew 9% (9% in USD). Base orders were positive in the United States and Mexico and declined in Canada and Brazil.
  • Demand in Asia, the Middle East and Africa was strong as India continued to invest in reliable and efficient power transmission solutions and China fostered further investment in industrial automation. Total orders for the region grew 17% (13% in USD) driven by strong order development in India and China. Base orders were 2% lower (5% in USD) as strong order development in India, up 14% (12% in USD) and China up 11% (5% in USD), could not offset declines in Saudi Arabia and other parts of South East Asia.
• Outlook
  • Macroeconomic and geopolitical developments are signaling a mixed picture with continued uncertainty. Some macroeconomic signs remain positive in the United States and growth in China is expected to continue. The overall global market remains impacted by modest growth and increased uncertainties, e.g., Brexit in Europe and geopolitical tensions in various parts of the world. Oil prices and foreign exchange translation effects are expected to continue to influence the company's results. With this and the ongoing transformation of ABB, we expect 2017 to be a transitional year.
  • The attractive long-term demand outlook in ABB's three major customer sectors - utilities, industry and transport & infrastructure - is driven by the Energy and Fourth Industrial Revolutions.

ABB Ltd (ABB) reported earnings on Thur 27 Oct 16 (b/o)

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ABB Ltd misses by $0.02, misses on revs; names Timo Ihamuotila as New Chief Financial Officer 

• Reports Q3 (Sep) earnings of $0.32 per share, $0.02 worse than the Capital IQ Consensus of $0.34; revenues fell 3.1% year/year to $8.26 bln vs the $8.36 bln Capital IQ Consensus.
• Orders
  • Total orders declined 13 percent (14 percent in US dollars) compared with the third quarter of 2015, reflecting timing of large order awards and lower short cycle volumes. Base orders (below $15 million) decreased 6 percent (7 percent in US dollars), while large orders ($15 million and above) were lower in all divisions and represented 11 percent of total orders compared with 17 percent a year earlier. Orders for services and software were 3 percent lower (5 percent in US dollars) and represented 17 percent of total orders compared with 16 percent a year ago.
• Outlook
  • Macroeconomic and geopolitical developments are signaling a mixed picture with continued uncertainty. Some macroeconomic signs in the US remain positive and growth in China is expected to continue, although at a slower pace than in 2015. The market remains impacted by modest growth and increased uncertainties relating to Brexit in Europe and geopolitical tensions in various parts of the world. Oil prices and foreign exchange translation effects are expected to continue to influence the company's results.
  • The attractive long-term demand outlook in ABB's three major customer sectors - utilities, industry and transport & infrastructure - is driven by the Energy and Fourth Industrial Revolutions.
• New CFO
  • ABB announced that Timo Ihamuotila has been named Chief Financial Officer and member of the Executive Committee, effective April 1, 2017.
  • Ihamuotila succeeds current CFO Eric Elzvik in an orderly transition process. Elzvik will pursue career opportunities outside of ABB after a thorough handover in second quarter of 2017.
  • Ihamuotila is joining ABB from Nokia (NOK), where he has held the position of CFO since 2009

ABB Ltd. (ABB) reported earnings on Wed 20 Apr 2016 (b/o)

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ABB Ltd.’s quarterly profit fell less than expected after orders from power utilities helped the grid maker to withstand a slowdown in some emerging markets and in the oil and gas industry.
Demand is “better than was generally thought,” Morgan Stanley analysts including Ben Uglow said in a note. First-quarter results point to an earnings consensus for the full year that is “too low.”
ABB shares rose 3.9 percent to 20.29 Swiss francs at 10:32 a.m. in Zurich, taking the rise to 13 percent since the start of the year.

Chief Executive Officer Ulrich Spiesshofer, who may come under pressure from activist shareholder Cevian Capital AB, has pledged to cut costs and increase efficiency to try to counter weakness in demand from clients in China and the oil and mining industries. The CEO made management changes last year and began a strategic review of ABB’s power grids division, which he said Wednesday is “on track.” The company plans to issue a report on the division on Oct. 4, according to the statement.

Operational earnings before interest, taxes and amortization fell 1 percent to $943 million, the Oerlikon, Switzerland-based company said in a statement Wednesday. That beat an average estimate of $865 million of analysts surveyed by Bloomberg.


While overall orders fell 11 percent to $9.3 billion during the first quarter, the company said it won $300 million of orders from utility customers in China for transmission links and reached a deal with Danish company Dong Energy for a submarine-cable link. Mining and oil industry orders were down in the Americas, it said.