ABB 4Q Profit Dropped Despite Orders Rising
February 28 2019 - 1:34AM
Dow Jones News
By Nathan Allen
ABB Ltd. (ABBN.EB) said Thursday that earnings fell in the
fourth quarter despite orders rising across all divisions and
regions.
The Swiss engineering group said net profit for the
October-to-December period fell to $317 million from $393 million a
year earlier.
ABB said profitability was hit by higher costs and charges from
legacy operations as well as the acquisition of GE Industrial
Solutions.
Revenue rose to $7.40 billion from a restated figure of $6.80
billion, while orders increased 10% to $6.99 billion, the company
said.
Analysts had forecast net profit of $299 million on revenue of
$7.26 billion, according to a consensus compiled by FactSet.
The company proposed a dividend of 0.80 Swiss francs ($0.80) a
share, up from CHF0.78 a year earlier.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
February 28, 2019 01:19 ET (06:19 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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