ABB Q1 2008 Earnings !


ABB Ltd, the Switzerland based global infrastructure company, is set to report 2008 Q1 Earnings on April 24, 2008 (Thursday).

Back in February, the company announced great earnings with strong order numbers for full year 2007 and 2007 Q4. From the corporate site: “2007 was a great year for ABB,” said Michel Demaré, ABB’s interim Chief Executive Officer and its Chief Financial Officer. “Demand remained strong around the globe for the products and services at the heart of our business – to increase energy efficiency, deliver power more reliably, and improve industrial productivity. We also profited again from our improved operational performance and expansion in emerging markets. This puts us in a strong position heading into 2008.

For  Q4, ABB said:

“Large orders increased 27 percent in the fourth quarter and represented 19 percent of total orders received, the same as the fourth quarter in 2006. Base orders (less than $15 million) were up 24 percent (local currencies: 14 percent).

Revenues increased across all divisions for the full year and fourth quarter. Revenues were supported by the strong order backlog, increased volume resulting from high demand, and a favorable business environment in which increased raw material costs could be offset by higher prices.”

So many folks expect another good quarterly earnings from ABB tomorrow ABB has already announced that its order-book is growing strong in emerging countries like China,India, etc.

On Feb 13,2008 the company announced that the CEO Fred Kindle left ABB due to differences in strategy execution with other management. This pushed the stock down although temporarily. From a recent low of $23+ the stock, ABB is now back to $28.03.

The market  seems to expect that ABB’s Q1 numbers will be good.This should push the stock price higher and by year year the stock may be in the mid to high 30s.

Leave a Reply

Your email address will not be published. Required fields are marked *