Stock Monitor: Illinois Tool Works Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 03, 2018 / Active-Investors.com has just released a free earnings report on ABB Ltd (NYSE: ABB). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ABB. On April 19, 2018, ABB reported financial results for the first quarter of 2018 ending March 31, 2018. The Company made a strong beginning to 2018 with its first quarter performance wherein it surpassed analysts' estimates for earnings as well as revenue. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, ABB most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
ABB's total revenues reached $8.63 billion for Q1 FY18, reflecting an increase of 9.84% from $7.85 billion in Q1 FY17 led by increase in revenues in each of the four segments. The reported revenue number exceeded analysts' consensus estimates of $8.27 billion. In the quarter under review, ABB's sale of products was $7.04 billion, up 8.76% on a y-o-y basis, and sale of services was $1.59 billion, up 14.87% on a y-o-y basis.
ABB had total orders of $9.77 billion in Q1 FY18, 16.29% higher than the $8.40 billion posted in Q1 FY17. On a comparable basis, orders increased 6% on a y-o-y basis.
During Q1 FY18, ABB's total cost of sales was $5.92 billion, 7.89% higher than the $5.49 billion reported in Q1 FY17. The Company's gross profit advanced 14.36% to $2.71 billion in the reported quarter from $2.37 billion in the year ago comparable quarter.
ABB incurred selling, general, and administrative (SG&A) expenses of $1.47 billion in Q1 FY18, 11.96% higher than the $1.31 billion reported in Q1 FY17. The Company's non-order related research and development (R&D) expenses also hiked 21.31% to $353 million in the reported quarter from $291 million in the previous-year's corresponding quarter. ABB's income from operations declined 12.51% to $895 million in Q1 FY18 from $1.02 billion in Q1 FY17.
Net income attributable to ABB for the quarter ending March 31, 2018, was $572 million, a decrease of 20.99% from $724 million in the same period in previous year. The Company's diluted earnings per share (DEPS) also fell 20.59% to $0.27 in the reported quarter from $0.34 in the year ago same quarter. The reported earnings for Q1 FY18 included acquisition related expenses and amortization; restructuring and restructuring-related expenses; non-operational pension cost; and impact from FX/commodity timing differences. ABB's operational net income (non-GAAP) for Q1 FY18 was $669 million, up 10.21% from $607 million in Q1 FY17. The Company's operational EPS (non-GAAP) was $0.31 in the reported quarter, up 10.71% from $0.28 in the prior year's comparable quarter. The Company's reported earnings were in-line with analysts' consensus estimates for Q1 FY18.
ABB's Segment Details
During Q1 FY18, the Power Grids segment's net sales were $2.39 billion, up 1.45% on a y-o-y basis. This segment had an income from operations of $193 million in Q1 FY18, 8.53% lower than $211 million in Q1 FY17.The segment had total orders of $2.48 billion in the quarter under review.
The Electrification Products segment reported revenues of $2.49 billion in Q1 FY18, an increment of 8.77% prior year's comparable quarter. This segment had income from operations of $318 million in Q1 FY18, up 3.58% from $307 million in Q1 FY17. The segment had total orders of $2.79 billion in the reported quarter.
For Q1 FY18, the Industrial Automation segment generated revenues of $1.86 billion, an increase of 22.87% from year ago corresponding quarter. This segment had income from operations of $237 million in Q1 FY18, 12.32% higher than $211 million in Q1 FY17. This segment had total orders of $2.12 billion in the quarter ending March 31, 2018.
The Robotics and Motion segment reported revenues of $2.21 billion in Q1 FY18, 15.05% higher than previous-year's same quarter. This segment had an income from operations of $313 million in Q1 FY18 compared to $261 million in Q1 FY17, reflecting an increase of 19.92%. This segment had total orders of $2.58 billion in the quarter under review.
ABB had cash and cash equivalents of $4.16 billion as on March 31, 2018, 8.04% lower than $4.53 billion as on December 31, 2017. The Company had a long-term debt of $5.29 billion at the end of Q1 FY18, a decrease of 21.23% from $6.71 billion at the end of Q4 FY17.
ABB's net cash outflow in operating activities for the three months ending March 31, 2018, was $518 million compared to cash inflow from operating activities of $509 million in the three months ending March 31, 2017. The Company spent $238 million on purchases of property, plant and equipment, and intangible assets in Q1 FY18, 23.96% higher than $192 million in Q1 FY17.
Stock Performance Snapshot
May 02, 2018 - At Wednesday's closing bell, ABB's stock slightly advanced 0.21%, ending the trading session at $23.38.
Volume traded for the day: 1.50 million shares.
Stock performance in the last month – up 0.30%
After yesterday's close, ABB's market cap was at $50.83 billion.
Price to Earnings (P/E) ratio was at 24.30.
The stock has a dividend yield of 3.55%.
The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry.
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