Benzinga | Jul 22, 2021 07:29AM EDT

ABB Shares Gain On Solid Q2 Results

* ABB Ltd (NYSE:ABB) reported second-quarter revenue growth of 21% year-over-year to $7.45 billion, beating the analysts' consensus of $7.02 billion. Comparable revenue grew +14% year-over-year.

* EPS of $0.37, an increase of 150% Y/Y, beats consensus of $0.34.

* The company's orders grew 32% Y/Y to ~$8 billion, comparable at +24% Y/Y.

* The gross margin expanded by 140 basis points to 33.7%.

* Operating income increase by 92% Y/Y, and margin improved to 14.7%.

* Operational EBITA was up 71% Y/Y to $1.13 billion, and margin expanded by 440 bps to 15%.

* Cash flow from operating activities year-to-date was $1.19 billion, compared to $252 million a year ago.

* The company recently announced the acquisition of ASTI Mobile Robotics Group to drive the next generation of flexible automation with Autonomous Mobile Robots.

* The company has cash and marketable securities of $4.23 billion as of June 30, 2021, and net debt stands at $2.26 billion.

* Outlook: ABB expects third-quarter comparable revenues to grow ~10%, with orders growing more than revenues.

* It anticipates FY21 comparable revenue growth of just below 10% (update from ~5% or more).

* Price action: ABB shares traded higher by 1.14% at $36.25 in the premarket session on the last check Thursday.