ABB to take $260M charge on Q4 earnings

|About: ABB LTD. (ABB)|By:, SA News Editor

ABB (ABB) will book $260M in charges on its Q4 earnings, due to delays to offshore wind projects because of winter storms and "some operational issues" at its Power Systems (PS) division.

Additional restructuring-related charges at the PS operations will also hit net income.

The company expects EPS to fall to $0.23 from $0.26 a year earlier and vs consensus of $0.40. Shares are -3.3% in Stockholm. (PR)