ABB - ABB trades high premarket as estimates stronger than anticipated Q1 performance

ABB (ABB) trades higher after reporting Q1 preliminary results ahead of expectations, mainly driven by a stronger-than-anticipated market development, especially during the last weeks of March, and relates primarily to the short-cycle business.Revenues of ~6.9B (+11% Y/Y) vs. consensus of 6.59B.Orders are expected to be ~7.75B (+6% Y/Y) and operational EBITA improved 330 bps to 13.5%.FY 2021 guidance: ABB is raising its revenue guidance and now anticipates comparable revenue growth of ~5% or higher(previously: comparable revenue growth to be broadly in line with its long-term target range), including an anticipated recovery in the process industry related part of the business during the second half of the year.The company will publish its full Q1 results on April 27, 2021 at 07:00 a.m. CEST.Shares are up 3.99% PM.

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ABB trades high premarket as estimates stronger than anticipated Q1 performance