ABB Ltd
Reported: 2026-10-23
ABB shares fell 3.8% after earnings, despite record Q3 margins and a 40% comparable increase in orders. The transcript points to investors focusing on the gap between strong orders and the guided mid-teens revenue growth; the excerpt does not identify a specific guidance cut or other clear disappointment.
Key takeaways
- Orders reached just above $12 billion, up 40% on a comparable basis, with growth across business areas and customer segments; data centers were the standout, with triple-digit order growth.
- Revenue growth was described as a “good mid-teens” rate, more or less as planned and guided.
- Operational EBITA margin was 20.8%, and EBIT margin was 19%; both were cited as Q3 records. ROCE was 29.9%.
- ABB announced a 51% stake in a Mitsubishi Electric low-voltage power distribution joint venture, with a path to full ownership. The business generated about $640 million in FY2025 revenue at a low double-digit EBITA margin; ABB targets at least a 20% operational EBITA margin five years after completion.
- ABB launched its Infinitus direct-current portfolio for data centers. Management estimates DC architecture could reduce conversion losses by more than 5% in a 500 MW data center.
