ABB Earnings Recap: A Bright Future Ahead
The demand for electrical products is growing steadily, but you wouldn't know it from ABB's (NYSE: ABB) second-quarter 2022 financial results. Revenue was down 3% and net income fell 50%, which seem like indicators that we could be in a recession, even in electrical products.
But a look behind the curtain shows strong demand and headwinds from currencies and supply chains. This could be a theme for energy and industrial stocks this quarter.
Q2 revenue was down 3% to $7.25 billion, and net income fell 50% to $379 million, or $0.20 per share. But a strong dollar is having a big effect on this highly international business.
Source Fool.com
