Swiss engineering firm ABB Ltd. (ANN.L, ABB) announced on Thursday that its net income attributable to the company in the second quarter surged by 21% to $1.10 billion, compared to $906 million in the same period last year.
Basic earnings per share increased by 22% to $0.59, up from $0.49 in the previous year.
Operational EBITA rose by 10% year-over-year to $1.56 billion, with an improvement in the operational EBITA margin, which climbed 1.5 percentage points to 19%, up from 17.5% in the previous year.
Revenues saw a modest increase of 1%, reaching $8.24 billion, up from $8.16 billion the prior year. On a comparable basis, revenue growth was 4%.
However, orders dropped by 3% to $8.44 billion, down from $8.67 billion in the previous year. Comparable orders remained flat.
Looking ahead to the third quarter, ABB anticipates a higher sequential growth rate in comparable revenues and expects the operational EBITA margin to be around 18.5% or slightly below.
For the full fiscal year 2024, the company continues to forecast comparable revenue growth of approximately 5%, with an operational EBITA margin of about 18%.
