ABB Reports Q3 2024 Financial Performance

ABB Ltd announced its Q3 2024 financial results, showcasing a steady growth trajectory. Orders reached $8,193 million, marking a 2% increase compared to last year. Revenues also rose by 2% to $8,151 million. The company reported a 16.1% margin on income from operations, amounting to $1,309 million.

The Operational EBITA margin remained strong at 19.0%, driven primarily by the Electrification business, despite challenges in Robotics & Discrete Automation and E-mobility sectors. ABB's basic earnings per share increased by 8% to $0.51, while cash flow from operating activities remained stable at $1,345 million.

CEO Morten Wierod highlighted positive developments in most segments, with a 2% increase in order intake. The acquisition of Födisch Group and SEAM Group is expected to enhance their service offerings. For Q4 2024, ABB anticipates a modest revenue growth with an EBITA margin slightly above 18% for the full year.