ABB's Q3 Earnings And Revenues Decline Y/Y, Orders Down
Zacks Investment Research | Oct 23, 2019 10:32PM ET
ABB Ltd. (NYSE:ABB) reported disappointing third-quarter 2019 results, wherein both earnings and revenues declined on a year-over-year basis.
Operational earnings were 33 cents per share, which fell 2.9% from the year-ago figure of 34 cents.
Inside the Headlines
ABB’s third-quarter revenues totaled $6,892 million, down 2.9% from the year-ago quarter. The downside can be attributed to decline at the Industrial Automation and Robotics & Discrete Automation segments. On a comparable basis, the revenues were flat. The top line beat the consensus estimate of $6,890 million.
Total orders were $6,688 million, decreasing 3% year over year. The metric also declined 1% on a comparable basis due to weak orders in Robotics & Discrete Automation, partially offset by moderate growth in Industrial Automation and Electrification and Motion. The order backlog decreased 3%.
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