ABB Ltd (ABB:CA) Q2 2026 Earnings Call Transcript

ABB Ltd (ABB:CA) Q2 2026 Earnings Call July 16, 2026 4:00 AM EDTCompany ParticipantsAnn-Sofie Nordh - Group Senior VP & Head of Investor RelationsMorten...

Company Participants Ann-Sofie Nordh - Group Senior VP & Head of Investor Relations Morten Wierod - Chief Executive Officer Christian Nilsson - Chief Financial Officer Conference Call Participants Martin Wilkie - Citigroup Inc., Research Division Magnus Kruber - Nordea Markets, Research Division Andre Kukhnin - UBS Investment Bank, Research Division William Mackie - Kepler Cheuvreux, Research Division Max Yates - Morgan Stanley, Research Division James Moore - Rothschild & Co Redburn, Research Division Jonathan Mounsey - BNP Paribas, Research Division Kari Ekelund Thorud Sean McLoughlin - HSBC Global Investment Research Daniela Costa - Goldman Sachs Group, Inc., Research Division Kulwinder Rajpal - AlphaValue SA Alessandro Foletti - Octavian AG, Research Division Presentation Ann-Sofie Nordh Group Senior VP & Head of Investor Relations Greetings, and welcome to this presentation of ABB's second quarter results.

You will hear from our CEO, Morten Wierod; and our CFO, Christian Nilsson. And they will talk through the results as per usual tradition. And after this, we will run through the Q&A session.

I'm Ann-Sofie Nordh, Head of Investor Relations. And with that, I will just simply hand over to you, Morten, for the presentation. Morten Wierod Chief Executive Officer Thanks, Ann-Sofie.

So let's talk through the building blocks that resulted in another record quarter for both orders and revenues, good earnings growth, a solid margin improvement and good cash flow. In total, things progressed more or less as planned. We delivered on our guidance, so I'm pleased with the results.

But I want to start with M&A. You have heard me talk about the teams being active on a good target pipeline. Now we see these efforts result in 3 recently announced acquisitions, which combined would add approximately 3.5% to our 2025 revenues. This includes 2 smaller deals, one being in the Italian company, Specialtrasfo, who is specialized in medium voltage transformers.

I want to make it clear that we're not going