ABB 4Q Net Profit Rose, Revenue Fell
February 05 2020 - 1:38AM
Dow Jones News
By Kim Richters
ABB Ltd. (ABBN.EB) said Wednesday that its net profit for the
fourth quarter of 2019 rose while revenue declined.
The Swiss engineering company said its net profit rose to $325
million from $317 million the year-earlier period. Its operational
earnings before interest, taxes and amortization jumped 22% to $710
million.
Quarterly revenue declined 4% to $7.07 billion, while orders for
the quarter fell to $6.89 billion.
ABB said it had faced slowing short-cycle industrial demand,
particularly in the U.S., and continuing market headwinds in some
industries during the quarter.
"ABB gave a resilient performance in 2019 in the face of
challenging market conditions and a significant transformation,"
the company's CEO Peter Voser said.
The company proposed a dividend of CHF0.80 per share.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
February 05, 2020 01:23 ET (06:23 GMT)
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