The 2020 Mid-Year Economic Update_long

ABB Sales Down 7% in 3Q

Year-to-date sales down 3 percent year-over-year.

Switzerland-based power and automation company ABB reported sales for the third quarter of $9.8 billion, down 7 percent from the third quarter of 2013. Profit decreased 12 percent to $734 million.

Orders were up 28 percent in the quarter, driven by large orders in power infrastructure and oil and gas. Total orders rose to $11.2 billion, boosted by large orders (above $15 million) including a power transmission link in Europe, a mining automation project in the Americas and a gas treatment plant in Africa. Base orders (below $15 million) increased in every region.

Year-to-date sales were $29.5 billion, down 3 percent from the prior-year period. Profit decreased 15 percent to $1.9 billion.

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