ABB - ABB to start $1B stock buyback program April 3

2023-03-31 06:54:51 ET

ABB ( NYSE: ABB ) said Friday it will launch its previously announced buyback of up to $1M of shares , or ~30M shares based on the current stock price, on April 3.

The new buyback is the latest by ABB ( ABB ), which has repurchased 286M shares for ~$8.6B since July 2020, including a $2B buyback started last April.

The company plans to buy back and cancel the equivalent of ~1.5% of its issued shares, and will run until March 20, 2024.

ABB ( ABB ) "offers good long-term exposure to automation and electrification, but there is work to do to optimize the portfolio, with an eye toward maximizing the revenue, margin, and FCF opportunities," Stephen Simpson writes in an analysis posted recently on Seeking Alpha .

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