ABB Q4 Operational EBITA Rises, Comparable Revenue Growth At 16%; Issues Outlook

(RTTNews) - ABB (ANN.L, ABB) reported that its fourth quarter operational EBITA increased year-over-year to $1.15 billion from $988 million. On a comparable basis, growth was 28%.

Net income attributable to ABB was $1.13 billion, down 57% from a year ago. Basic earnings per share was $0.61, down 55%.

Revenues increased to $7.82 billion from $7.57 billion, last year. On a comparable basis, revenue growth was at 16%. Orders were $7.62 billion compared to $8.26 billion, last year. On a comparable basis, orders were up 2%.

In the first quarter, the company anticipates double-digit comparable revenue growth to support some improvement in the operational EBITA margin, year-on-year.

In full-year 2023, the company expects comparable revenue growth to be above 5% and it expects to again achieve long-term target of operational EBITA margin of at least 15%.

The Board proposed an ordinary dividend of 0.84 Swiss francs per share. The company plans to continue with share buybacks for full year of 2023. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.