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ABB to take $260M charge on Q4 earnings

  • 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)
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