ABB sees 'robust market' so far unaffected by US tariffs

By John Revill ZURICH (Reuters) -ABB is seeing a "robust" situation with so far little impact on customer demand from the uncertainties caused by U.S. tariffs, the Swiss engineering company said on Thursday, as it reported its third quarter results. ABB, which makes motors and drives used in factory production lines, reported operating earnings before interest, depreciation and amortisation increasing by 12% to $1.74 billion for the three months to the end of September. The figure was slightly above forecasts for $1.70 billion in a company-gathered consensus of analysts. Revenue at the company, which also makes electrification systems used in data centres, rose 11% to $9.08 billion, beating forecasts for $8.88 billion, while orders rose 12%. Chief Executive Morten Wierod said he was seeing a "robust overall market situation" with customers still spending on electrical power and automation. Although risks surrounding U.S. tariffs remained, they had not yet affected customers, Wierod said. "U.S. tariff-related market uncertainties remain, but so far we have not seen any material impact on demand or profitability," he said. The results were ABB's first since it announced the sale of its robotics business last week. Also on Thursday, ABB announced that Chief Financial Officer Timo Ihamuotila would will leave the company in 2026. He will be replaced by Christian Nilsson, who is currently CFO at the company's electrification business. (Reporting by John RevillEditing by Ludwig Burger and Lincoln Feast.)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)