ABB Q3 Orders Jump 40% to $12.1B on Massive Data Center Demand

ABB reported third-quarter orders of $12.1 billion, a 40% jump that surpassed analyst estimates of $11.4 billion. The company's electrification unit, which manufactures transformers for power grids and data centers, drove 70% of the new business. ABB announced a joint venture with Mitsubishi Electric for a low-voltage power distribution business in Japan, paying approximately $495 million for a 51% stake. The Swiss manufacturer slightly raised its revenue forecast to the "low teens" range and reported $1.6 billion in free cash flow for the quarter. "In the current strong market environment it is essential to maintain focus and discipline." — ABB.