ABB Beats Q2 Estimates as Orders Surge

ABB Ltd. reported second-quarter earnings that exceeded analyst expectations, propelled by a sharp rise in orders for its factory-automation and electrification products. Net income reached $1.15 billion on revenue of $8.9 billion, equal to earnings of $0.63 per share. Operational EBITA climbed to $1.71 billion, beating the $1.66 billion consensus, while the margin improved to 19.2% from an estimated 18.8%. Customer orders advanced 16% year-on-year to $9.79 billion, aided by a roughly $600 million contract in the United States. The surge supported management’s decision to maintain guidance for mid-single-digit comparable revenue growth for both the full year and the third quarter. Chief Executive Officer Morten Wierod said the company remains on track for another record year despite geopolitical uncertainties.