ABB Issues Trading Update Following Better-Than-Anticipated Performance in Q1
ABB Ltd (ABB)
Last abb ltd earnings: 7/25 12:46 am
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Source: Business Wire
ZURICH--(BUSINESS WIRE)--ABB is publishing preliminary information on its first-quarter 2021 results, which according to the information available to the company, is better than the latest company guidance and current market consensus. The preliminary results were driven by a stronger-than-anticipated market development, especially during the last weeks of March, and relates primarily to the short-cycle business. Quarterly demand is likely to have been supported by customer stock-building activities related to both component availability constraints and rising commodity prices in the industry.Preliminary results for first quarter 2021:($ millions,unless otherwise indicated) ChangeQ1 2021Q1 2020US$Comparable1Orders~7,7507,346~+6%~+1%Revenues~6,9006,216~+11%~+7%Operational EBITA2, %~13.5%10.2%~+330 pts On the back of recent market developments, ABB is raising its revenue guidance for full year 2021 outlook and now anticipates comparable revenue growth of ~5% or higher (previously:
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