ABB LTD. ADRs, New York symbol ABB, manufactures transformers, transmission switches and other equipment for distributing electricity. It also makes automation systems and robotics that increase the productivity of manufacturing plants. Switzerland-based ABB has clients in a variety of industries. The company is one of the world stock market investments we analyze in our Wall Street Stock Forecaster newsletter
The company earned $655 million in the three months ended March 31, 2011, up 41.2% from $464 million a year earlier. Earnings per ADR gained 45.0%, to $0.29 from $0.20, on fewer ADRs outstanding. (Each American Depositary Receipt represents one ABB common share.) Revenue rose 21.2% to $8.4 billion from $6.9 billion.
Rising industrial development and higher commodity prices are prompting the company’s clients to increase their capacity and make their plants more efficient. These factors are pushing up demand for ABB’s products. Orders for new equipment rose 25% during the quarter. The company’s order backlog is now a record $29.3 billion.
As of March 31, 2011, the company held cash of $4.5 billion, down from $8.6 billion at the end of 2010. The decrease mainly reflects the acquisition of Baldor Electric for $4.2 billion at the end of January. Based in Fort Smith, Arkansas, Baldor makes electric motors and related products for a wide variety of industrial uses, such as conveyor belts, air fans and blowers, and fluid pumps.
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