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ABB to take $260M charge on Q4 earnings

Jan. 22, 2014 3:11 AM ETABB Ltd (ABBNY) StockABBNYBy: Yigal Grayeff, SA News Editor
  • ABB (NYSE: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)

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