ABB LTD. ADRs $17(New York symbol ABB; Conservative Growth Portfolio, Manufacturing & Industry sector; ADRs outstanding: 2.3 billion; Market cap: $39.1 billion; Price-to-sales ratio: 1.0; Dividend yield: 4.4%; TSINetwork Rating: Above Average; www.abb.com) makes transformers, transmission systems and circuit breakers for electrical utilities. The Switzerland-based firm also produces automation systems and robotics for industrial clients.
Due to slowing economic growth in China and developing countries, the company now expects its revenue to grow by 3% to 6% each year to 2020. That’s down from its earlier forecast of 4% to 7% annual growth.
ABB is also reorganizing into four new divisions: Discrete Automation and Motion, Power Grids, Electrification Products and Process Automation. This change will make it easier for ABB to sell the Power Grids division, which makes transmission and distribution equipment for utilities. This business’s sales have slowed, and it faces strong competition from bigger firms like GE/Alstom.
The company also expects its restructuring to save it $1 billion annually by the end of 2017, which will help pay for its plan to spend $4 billion on share buybacks over the next two years.
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The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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