Switzerland-based power and automation company ABB reported first-quarter sales of $6.2 billion, a 9% decrease over the first quarter of 2019. The company reported profit of $376 million, a 30% drop when compared to the year-ago period.
“The COVID-19 pandemic impacted our first quarter results, lowering revenues and operating margins in all our businesses, although order growth held up well. We are doing our utmost to ensure the health and safety of our employees while maintaining business continuity, serving our customers and continuing to invest in R&D for the long-term,” said Björn Rosengren, CEO of ABB.
