ABB (1K) | Hold | Electrification and Motion set to drive Q2

研报英文原文证据摘录

ABB (1K) | Hold | Electrification and Motion set to drive Q2

#EarningsPreview #Positive #EstimatesRevision

#Proprietary

Release date: 25 June 2026

Company research

ESG profile HoldABB

Switzerland | Capital goods Beta Profile: MCap: CHF157.0bn

Target Price: CHF80.00 Change in TP: 0.0 % Bloomberg: ABBN SW Reuters: ABBN.S

Current Price: CHF86.58 Change in Sales: 0.3% 26E/0.4% 27E Free float 92%

Up/downside: -7.6% Change in Adj EBIT: 0.7% 26E/0.8% 27E Avg. daily volume (CHFm) 367.9

YTD abs performance 46.2% Market data: 24 June 2026 Change in Adj. EPS: -1.3% 26E/0.4% 27E

52-week high/low (CHF) 88.56/45.83

Electrification and Motion set to drive Q2 Price performance

Why this report?

Ahead of Q2 2026 results, scheduled for 16 July, we make minor upward

adjustments to our revenue and profit forecasts, driven by the expected

performance of the Electrification and Motions business areas, and present

our Q2 expectations. The fundamentals for ABB remain strong; robust end

market growth, leading market positions, best-in-class innovation, rising

profitability and ROIC, a resilient governance system and prudent capital

allocation all confirm a quality investment. Between 2025 and 2030 we

envisage the group achieving an 11% CAGR for adj EBITA. Nonetheless, this

appears very well discounted in the equity price. The shares trade near record

valuation highs on an absolute basis and vs. key competitors, limited relative

and absolute upside, HOLD

FY to 31/12 (USD) 12/26E 12/27E 12/28E

Key findings Sales 37,700 40,816 43,688

Q2 results should confirm that strong demand in key end markets for the EBITDA adj. 8,548 9,340 10,207

Electrification and Motion BAs will support further, minor revenue and profit EBIT adj. 7,839 8,558 9,357

Net profit adj.