Jan 30th, 2025

ABB Gains on Buyback, Electrification Demand

ABB Ltd.’s orders rose in the fourth quarter, as demand for power hungry data centers drives growth in the Swiss manufacturer’s electrification business.  Orders climbed to $8.1 billion in the three months through December, a 7% increase from the same period a year earlier on a comparable basis, the Zurich-based company said Thursday. Net income rose 7%. Still, speaking to Bloomberg's Tom Mackenzie, ABB CEO Morten Wierod acknowledged some market uncertainty and an adverse impact from exchange rates, mainly the appreciation of the dollar.