ABB Stock Gains On Higher Q2 Profit & Orders, Positive Outlook

RTTNews | 13天前
ABB Stock Gains On Higher Q2 Profit & Orders, Positive Outlook

(RTTNews) - Shares of ABB Ltd. were gaining around 8 percent in the morning trading in Switzerland after the Swiss technology company on Thursday issued positive third-quarter comparable revenue outlook and maintained fiscal 2025 growth view, after reporting strong second-quarter results and order growth.

CEO Morten Wierod said, "ABB delivered an all-time-high order intake and improved operational performance. We are on a good path towards a new record year, amidst geopolitical uncertainties."

Looking ahead to the third quarter, the company projects comparable revenue growth to be at least in the mid-single digit range, and the Operational EBITA margin to remain broadly stable year-on-year, amid the uncertainty for the global business environment.

For fiscal 2025, ABB continues to expect a positive book-to-bill, comparable revenue growth in the mid-single digit range and the Operational EBITA margin to improve year-on-year.

In its second quarter, net income attributable to ABB was $1.15 billion, up 5 percent from last year's $1.10 billion. Basic earnings per share grew 6 percent to $0.63 from $0.59 last year.

Operational EBITA was up by 9 percent from the prior year to $1.71 billion, and the margin improved 20 basis points to 19.2 percent, a bit better than originally expected.

The company noted that margins increased in both the Electrification and Process Automation business areas, and Motion remained virtually stable.

Revenues grew 8 percent to $8.90 billion from last year's $8.24 billion, supported by three out of four business areas. Comparable revenue growth was 6 percent.

In the Robotics & Discrete Automation segment, revenues were hit by weakness in the Machine Automation division where last year's comparable was supported by a stronger order backlog.

The company added that higher volumes was the main driver of the revenue growth, supported by slightly positive pricing.

Orders were $9.79 billion in the quarter, up 16 percent from prior year's $8.44 billion. Orders grew 14 percent on a comparable basis.

Order growth was especially strong in the Process Automation business area where a large order of approximately $600 million net was booked.

In the Americas orders were up by 27%, and orders in Europe grew 12%. Asia, Middle East and Africa improved by 7% including a positive development of 4% in China.

In Switzerland, ABB shares were trading at 51.08 Swiss francs, up 7.74 percent.

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

read more
Fed Leaves Interest Rates Unchanged In Divided Decision

Fed Leaves Interest Rates Unchanged In Divided Decision

The Federal Reserve on Wednesday announced its widely expected decision to leave interest rates unchanged for the fifth consecutive meeting. In support of its dual goals of maximum employment and inflation at the rate of 2 percent over the longer run, the Fed said it decided to maintain the target range for the federal funds rate at 4.25 to 4.50 percent.
RTTNews | 3小时10分钟前
Swiss Market Settles Lower After Choppy Session

Swiss Market Settles Lower After Choppy Session

The Switzerland market ended on a weak note on Wednesday despite spending much of the day's trading session in positive territory. The focus was on corporate earnings and the developments on the trade front.
RTTNews | 3小时35分钟前
U.S. Pending Home Sales Unexpectedly Decrease In June

U.S. Pending Home Sales Unexpectedly Decrease In June

Pending home sales in the U.S. unexpectedly decreased in the month of June, according to a report released by the National Association of Realtors on Wednesday. NAR said its pending home sales index slid by 0.8 percent to 72.0 in June after jumping by 1.8 percent to 72.6 in May. Economists had expected pending home sales to rise by 0.2 percent.
RTTNews | 6小时37分钟前
Bank Of Canada Leaves Interest Rates Unchanged For Third Straight Meeting

Bank Of Canada Leaves Interest Rates Unchanged For Third Straight Meeting

In a widely expected move, the Bank of Canada on Wednesday announced that it has once again decided to leave interest rates unchanged. The Bank of Canada said it decided to maintain its target for the overnight rate at 2.75 percent, with the Bank Rate at 3 percent and the deposit rate at 2.70 percent.
RTTNews | 7小时21分钟前
U.S. GDP Rebounds In Q2 Amid Sharp Pullback By Imports

U.S. GDP Rebounds In Q2 Amid Sharp Pullback By Imports

The Commerce Department released a report on Wednesday showing the U.S. economy rebounded by more than expected in the second quarter of 2025. The report said real gross domestic product surged by 3.0 percent in the second quarter after falling by 0.5 percent in the first quarter. Economists had expected GDP to jump by 2.5 percent.
RTTNews | 7小时31分钟前
U.S. Private Sector Job Growth Exceeds Estimates In July

U.S. Private Sector Job Growth Exceeds Estimates In July

Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. increased by more than expected in the month of July. The report said private sector employment jumped by 104,000 jobs in July after slipping by a revised 23,000 jobs in June.
RTTNews | 7小时46分钟前