German industrial giant Siemens (Siemens) released its fiscal 2019 first-quarter results, showing that the company's earnings in the quarter fell by nearly half from a year earlier, hurt by higher taxes and lower market demand for large power turbines. In the first fiscal quarter ended December 31, 2018, Siemens net profit was 1.12 billion euros (1.28 billion U.S. dollars), compared with 2.21 billion euros in the same period last year, down 49%. Siemens' revenue for the first fiscal quarter was 20.1 billion euros ($22.86 billion), down 1 percent from a year earlier.
Alstom (Alstom) announced sales for the third fiscal quarter (October-December) of the 2018/19 fiscal year. Orders for the quarter amounted to 3.386 billion euros, with group sales of 2.01 billion euros (about 2.29 billion U.S. dollars). Group sales for the first nine months were 5.168 billion euros.
ABB Ltd announces fourth quarter and full year 2018 results. Fourth-quarter order intake was $6.985 billion, compared with $6.328 billion in the year-earlier period. Revenue for the quarter was $7.395 billion, compared to $6.804 billion in the year-ago period. Net income of $317 million in the current quarter, compared to $393 million in the prior-year period. 2018 order book of $28.590 billion, compared to $25.034 billion in the prior year. Revenue for the year was $27.762 billion, compared to $25.196 billion in the previous year. Full-year net income of $2.173 billion, compared with $2.213 billion in the previous year.
Schneider Electric (Schneider Electric) announced its full-year results for 2018. 2018 revenue of 25.720 billion euros ($29.25 billion), compared to 24.743 billion euros in 2017. Adjusted EBITA profit for the full year of $3,651 million, compared to $3,874 million in the previous year. Full-year net profit of 2.150 billion euros, compared with 2.334 billion euros in the previous year.
Vestas Wind Systems A/S reports fourth quarter and full year 2018 results. Fourth-quarter revenue was 3.369 billion euros ($3.83 billion), compared with 3.119 billion euros a year earlier.2018 revenue was 10.134 billion euros ($11.53 billion), compared with 9.953 billion euros in 2017.2018 profit was 683 million euros, compared with 894 million euros in 2017.
Siemens Gamesa Renewable Energy (Siemens Gamesa Renewable Energy) released its financial results for the first quarter of fiscal year 2019 (October 18, 2018 - December 18, 2018). Revenue for the quarter was €2.262 billion ($2.57 billion), up 6% year-on-year. EBIT profit of €40 million for the quarter, up 13% year-on-year. Net profit for the quarter was 18 million euros.
TE Connectivity Ltd (TE Connectivity) announced its results for the first quarter of fiscal year 2019 (ended December 28, 2018). Net sales for the quarter were $3.347 billion, compared to $3.336 billion in the same period a year earlier. Net income for the quarter was $276 million, compared to a net loss of $40 million in the year-ago quarter.
Eaton Corporation (EATON) announced its fourth quarter 2018 financial results. Fourth quarter sales were $5.5 billion, up 5% from the same period in 2017. The Electrical Products business group reported sales of $1.8 billion for the quarter, the Electrical Systems and Services business reported sales of $1.6 billion for the fourth quarter, the Hydraulics business reported sales of $653 million for the quarter, the Aerospace business reported sales of $497 million for the fourth quarter, the Vehicles group reported sales of $821 million for the quarter, and the eMobility business reported sales of $80 million. full-year 2018 sales were $21.6 billion, up 6 percent from 2017.
Emerson (Emerson) reported results for the first quarter of fiscal 2019 (ended December 31, 2018). Net sales for the quarter were $4.147 billion, compared to $3.816 billion in the year-ago quarter. Net income for the quarter was $465 million, compared to $392 million in the year-ago quarter.
Parker Hannifin (Parker Hannifin) announced its fiscal second quarter (ended December 31, 2018) results. Net sales for the quarter were $3.472 billion, compared to $3.371 billion in the year-ago quarter. Net income for the quarter was $312 million, compared to $56.16 million in the year-ago period.
Amphenol reports fourth quarter and full year 2018 results. Net sales for the fourth quarter were $2.225 billion, compared to $1.944 billion in the year-ago quarter. Net income for the quarter was $338 million, compared to a net loss of $103 million for the same period the previous year.Net sales for 2018 were $8,202 million, compared to $7,011 million the previous year. Net income for the year was $1.205 billion, compared with $651 million in the prior year.
Rockwell Automation, a maker of industrial automation systems, reported quarterly net income of $80.3 million for the quarter ended Dec. 31, compared with a loss of $236.4 million a year earlier. Sales rose to $1.642 billion from $1.587 billion.