ABB Q1 Results Up, Above Market View; Lifts 2021 Revenue Forecast
ZURICH (dpa-AFX) - Swiss engineering company ABB Ltd.(ANN.L, ABB) Thursday announced preliminary first-quarter results, reporting revenues of about $6.90 billion, a growth of around 11 percent on a reported basis and around 7 percent on a comparable basis. Operational EBITA margin would be 13.5 percent, up 330 basis points from last year.
Orders are expected to be around $7.75 billion, up 6 percent on a reported basis and up 1 percent on a comparable basis.
The company said its results are better than the latest company guidance and current market consensus.
The preliminary first-quarter 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. ....