ABB Logs Record Quarterly Order Intake, Launches Low-voltage Venture with Japan's Mitsubishi Electric

04:29 AM EDT, 10/20/2026 (MT Newswires) -- Shares in ABB (ABBN.SW, ABB.ST) dipped Tuesday morning, contrasting a 40% surge in third-quarter orders and a 14% increase in revenue. The electrification and automation company's order intake for the three months ended Sept. 30 rose to a record $12.06 billion from $8.61 billion a year earlier. Revenue increased to $9.70 billion from $8.49 billion. Chief Executive Morten Wierod attributed the surge in order intake to strong performance in the data center segment, which recorded a "triple-digit increase." Attributable net income, meanwhile, declined to $1.18 billion from $1.21 billion a year ago. Looking ahead, the company anticipates fourth-quarter comparable revenue growth to be "broadly similar" to the third quarter. Comparable revenue growth is expected to be in the "low teens" year-over-year for full-year 2026. Separately, ABB established a low-voltage solutions joint venture in Asia with Mitsubishi Electric's low-voltage power distribution product business. ABB will invest 79 billion Japanese yen to acquire a 51% stake in the venture, with the option to acquire full ownership in the medium term. "This deal will make us the low voltage market leader in Japan, one of the world's largest electrification markets, allowing us to benefit from the broad electric power trends including any local data center build-out. It also opens doors to the Asia-Pacific region," Wierod said. Shares of the company were down 6% during early trading in Zürich and Stockholm.