ABB Ltd. (ABB) Misses Q2 EPS by 2c

ABB Ltd. (NYSE: ABB) reported Q2 EPS of $0.28, $0.02 worse than the analyst estimate of $0.30. Revenue for the quarter came in at $10.19 billion versus the consensus estimate of $10.27 billion.

Orders4 of $10.6 billion were 14 percent higher (13 percent on a like-for-like basis2) compared with the same quarter in 2013. Base orders accelerated and large orders grew more than 70 percent. The positive growth momentum was supported across all regions.

“Last October we said that we will drive organic growth through penetration, innovation and expansion and now we are delivering results,” said ABB Chief Executive Officer Ulrich Spiesshofer. “Our focused actions are paying off and support overall increased order momentum. In the second quarter we saw encouraging growth in our two largest markets, the US and China.”

The strong order intake resulted in a positive book-to-bill ratio of 1.04x. ABB delivered steady revenues of $10.2 billion despite the lower opening order backlog.

For earnings history and earnings-related data on ABB Ltd. (ABB) click here.

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