ZURICH (dpa-AFX) - ABB Ltd. (ANN.L, ABB), a Swiss technology company, on Thursday reported higher profit in its third quarter with strong growth in revenues. Orders were also higher. Looking ahead, the company projects higher fourth-quarter revenues, and maintained fiscal 2025 revenue growth view, while updating Operational EBITA margin outlook.
Separately, the firm announced that CFO Timo Ihamuotila will step down from the Executive Committee, effective February 1, 2026, as he has decided to focus on non-operational roles.
He will be succeeded by Christian Nilsson, who joined ABB in 2017 as CFO of the Electrification business area.
In the third quarter, net income attributable to the company climbed 28 percent to $1.21 billion from last year's $947 million. Basic earnings per share were $0.66, up 29 percent from $0.51 a year ago.
Operational EBITA grew 12 percent to $1.74 billion from last year's $1.55 billion. Operational EBITA margin improved to 19.2 percent from 19.0 percent last year.
Revenues grew 11 percent to $9.08 billion from $8.15 billion last year. Orders went up 12 percent to $9.14 billion from $8.19 billion a year ago. Comparable order growth was 9 percent.
Looking ahead, for the fourth quarter, the company projects comparable revenue growth to be in the mid-single digit range, and the Operational EBITA margin to sequentially soften from the third quarter by approximately -150 basis points.
For fiscal 2025, the company continues to expect a positive book-to-bill and comparable revenue growth in the mid-single digit range.
Further, the firm now expects Operational EBITA margin broadly at the higher end of the long-term target range of 16 percent-19 percent. The company previously expected Operational EBITA margin to improve year-on-year.
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