ABB - ABB misses Q2 earnings; reaffirms FY22 guidance and issues Q3 soft guidance

• ABB press release ( NYSE: ABB ): Q2 GAAP EPS of $0.20 misses by $0.19 .
• Revenue of $7.3B (-2.0% Y/Y) misses by
• $180M .
• Orders $8.8B, +10%; comparable +20% and a record-high order backlog of $19.5B.
• Operational EBITA $1,136M; margin 15.5%.
• Cash flow from operating activities $382M.
• "In the third quarter of 2022, we anticipate double-digit comparable revenue growth and the Operational EBITA margin to sequentially improve, excluding the 60 basis points positive impact from special items in the second quarter.

• In full-year 2022, we expect a steady margin improvement towards the 2023 target of at least 15%. Furthermore, we expect support from a positive market momentum and our strong order backlog."

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