ABB Books Record $12B in Q3 Orders as US Grid Equipment Demand Jumps 82%

ABB reported record third-quarter orders of $12 billion on Oct. 20, up 40% from a year earlier, with orders from the United States rising 82%, according to Utility Dive's report on the company's results. The Zurich-based maker of switchgear, circuit breakers, transfer switches and low-voltage transformers said data centers and U.S. utilities drove the growth.

Orders in the Americas rose about 70%, and the company said orders improved at double-digit rates in every region. ABB's electrification segment booked a record $7.67 billion, up 70%. Electrification orders in the Americas grew 117%, against roughly 20% in Europe and almost 40% in China on a comparable basis, the company said.

Chief Financial Officer Christian Nilsson called data centers the "standout" customers, with that segment's orders increasing by triple digits. He added that the build-out of the grid more broadly is also showing strong growth. In its press release, ABB said its utilities segment showed "strong improvement," with aging assets needing upgrades both to reduce outage risk and to meet accelerating power demand.