ABB Shares Gain On Solid Q2 Results

ABB Ltd ABB reported second-quarter revenue growth of 21% year-over-year to $7.45 billion, beating the analysts’ consensus of $7.02 billion. Comparable revenue grew +14% year-over-year.
EPS of $0.37, an increase of 150% Y/Y, beats consensus of $0.34.
The company’s orders grew 32% Y/Y to ~$8 billion, comparable at +24% Y/Y.
The gross margin expanded by 140 basis points to 33.7%.
Operating income increase by 92% Y/Y, and margin improved to 14.7%.
Operational EBITA was up 71% Y/Y to $1.13 billion, and margin expanded by 440 bps to 15%.
Cash flow from operating activities year-to-date was $1.19 billion, compared to $252 million a year ago.
The company recently announced the acquisition of ASTI Mobile Robotics Group to drive the next generation of flexible automation with Autonomous Mobile Robots.
The company has cash and marketable securities of $4.23 billion as of June 30, 2021, and net debt stands at $2.26 billion.
Outlook: ABB expects third-quarter comparable revenues to grow ~10%, with orders growing more than revenues.
It anticipates FY21 comparable revenue growth of just below 10% (update from ~5% or more).
Price action: ABB shares traded higher by 1.14% at $36.25 in the premarket session on the last check Thursday.