ABB Ltd (NYSE:ABB) reported fourth-quarter FY21 revenue growth of 5% year-over-year to $7.57 billion, comparable basis +8%, beating the consensus of $7.31 billion.

• Orders increased by 18% Y/Y to $8.26 billion and grew 21% on a comparable basis.
• The company attributed the revenue growth primarily to higher project deliveries towards the end of the period despite supply chain disruptions. It expects supply chain constraints to prevail near-term.
• Electrification revenue $3.45 billion (+3% Y/Y), Orders $3.64 billion (+18% Y/Y) and Backlog $5.46 billion (+25% Y/Y).
• Motion revenue $1.74 billion (+2% Y/Y), Orders $1.84 billion (+19% Y/Y) and Backlog $3.75 billion (+13% Y/Y).
• Process Automation revenue $1.81 billion (+17% Y/Y), Orders $1.9 billion (-1% Y/Y) and Backlog $6.08 billion (+5% Y/Y).
• Robotics & Discrete Automation revenue $799 million (flat), Orders $1.1 billion (+57% Y/Y) and Backlog $1.92 billion (+37% Y/Y).
• Basic EPS improved to $1.34 from $(0.04) in 4Q20.
• Gross profit improved by 12% to $2.39 billion and the gross margin expanded by 180 bps to 31.7%.
• Income from operation totaled $2.98 billion, compared to $578 million a year ago, and the margin was 39.3% for the quarter.
• Operational EBITA was up 20% Y/Y to $988 million, and the margin expanded by 160 bps to 13.1%.
• ABB generated cash from operating activities in continuing operations for FY21 of $3.34 billion, compared to $1.88 billion a year ago. 
• The company Board proposed an ordinary dividend of CHF 0.82 per share, up from CHF 0.80 in the previous year.
• Outlook: ABB anticipates Q1 FY22 underlying market activity to remain overall stable compared with the prior quarter. Meanwhile, it expects Q1 revenues likely to be sequentially seasonally softer in absolute terms.
• In FY22, the company expects a steady margin improvement towards the 2023 target of at least 15%.
• Price Action: ABB shares are trading lower by 3.43% at $34.34 on the last check Thursday.