ABB - ABB STOCK NEWS

ABB is investing approximately $170 million in the U.S., aiming to meet rising demand for electrification and automation products. This includes new facilities in Wisconsin to enhance production capacity and create 300 new jobs across various states. The investment is bolstered by support from the Inflation Reduction Act; 85% of ABB's U.S. sales are from locally produced products. ABB's U.S. operations contribute 24% to its annual revenue, with ongoing projects projected to improve supply chain security and reduce delivery times by 50%. The company has invested $14 billion in U.S. expansions since 2010.

ABB announced a $40 million investment to establish a new manufacturing facility in Albuquerque, New Mexico, aimed at supporting the U.S. Utility sector. This 90,000-square-foot facility will create 55 jobs and enhance production of high-demand Elastimold® cable accessory solutions, crucial for grid resilience and safety. Set to be completed in 2024, it will utilize ABB Robotics technology to produce over 1 million additional units annually, primarily for U.S. customers. This investment strengthens ABB's commitment to the U.S. market, contributing to infrastructure improvements and increasing the company’s manufacturing capacity.

ABB announced a $20 million investment to expand its robotics facility in Auburn Hills, Michigan, enhancing its leadership in US automation. The project, which is set to open in November 2023, will create 72 skilled jobs and is supported by a $450,000 business development grant. The expansion aims to meet growing demand from US businesses for automation solutions, driven by labor shortages and the trend of reshoring production. Since 2010, ABB has invested $14 billion in the US, with this facility expected to produce a significant portion of robots for the Americas. The upgrade will incorporate advanced manufacturing technologies and AI-enabled systems.

ABB Ltd has filed the European Single Electronic Format (ESEF) version of its 2022 annual reports with the Swedish Financial Supervisory Authority. The reports, available electronically via go.abb/reports, present no material differences from reports released on February 24, 2023. ABB continues its focus on electrification and automation, with over 105,000 employees committed to driving industrial innovation.

ABB has released its first integrated report, showcasing its 2022 financial and sustainability performance. The report highlights a remarkable 65% reduction in company GHG emissions since 2019 and introduces new mid-term sustainability targets for 2025, aiming for a 70% reduction in its own emissions and a 20% reduction from main suppliers. The report reflects ABB’s commitment to sustainability amidst global challenges, underlining achievements in workplace safety and gender diversity. The integrated report aligns with multiple international standards, providing transparency on its financial and sustainability objectives.

ABB has announced its Annual General Meeting (AGM) scheduled for March 23, 2023. The invitation is available at www.abb.com/agm. With a legacy of over 130 years, ABB is recognized as a technology leader in electrification and automation, employing approximately 105,000 individuals. The company focuses on sustainable and resource-efficient solutions, combining engineering expertise with software to optimize manufacturing, mobility, energy, and operations. For more details, visit here.

ABB reported a strong Q4 2022 with orders totaling $7.6 billion (down 8%), but revenues increased by $7.8 billion (+3%). Operational EBITA reached $1,146 million with a margin of 14.8%. For FY 2022, total orders amounted to $34.0 billion (+7%) while revenues were $29.4 billion (+2%). However, income from operations dropped significantly by 60% to $1,185 million in Q4. The company anticipates a comparable revenue growth above 5% for FY 2023, supported by backlog execution and plans to continue share buybacks alongside a proposed dividend increase to CHF0.84 per share.