Otis Worldwide (OTIS) came out with quarterly earnings of $0.87 per share, beating the Zacks Consensus Estimate of $0.85 per share. This compares to earnings of $0.75 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.35%. A quarter ago, it was expected that this company would post earnings of $0.87 per share when it actually produced earnings of $0.95, delivering a surprise of 9.20%.Over the last four quarters, the company has ...

Delivers strong fourth quarter and full year results; announces 2024 outlook with solid sales and earnings growth with continued Service momentum 4Q Net sales up 5.3% and organic sales up 3.8%; GAAP EPS up 11.3% and adjusted EPS up 16.0% 4Q New Equipment orders up 3%; backlog up 2% 4Q Mod orders up 11%; backlog up 15% Maintenance portfolio units up 4.2% FY Net sales up 3.8% and organic sales up 5.6%; GAAP EPS up 14.5% and adjusted EPS up 11.7% FY GAAP cash flow from operations of $1.6 billion; free cash flo ...

Otis Worldwide Corporation (OTIS) is scheduled to report fourth-quarter 2023 results on Jan 31, before the opening bell.In the last reported quarter, OTIS’ earnings beat the Zacks Consensus Estimate by 9.2% and rose 18.8% year over year. Net sales beat the consensus mark by 1.2% and gained 5.4% year over year.Otis’ earnings topped the consensus mark in each of the last 15 quarters.Trend in Estimate RevisionFor the quarter to be reported, the Zacks Consensus Estimate for earnings per share has been stable at ...

Wall Street analysts expect Otis Worldwide (OTIS) to post quarterly earnings of $0.85 per share in its upcoming report, which indicates a year-over-year increase of 13.3%. Revenues are expected to be $3.57 billion, up 3.9% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Ahead of a company's earnings disclosure, it is crucial to g ...

FARMINGTON, Conn., Jan. 10, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) will host a conference call on Wednesday, January 31, 2024, at 8:30 a.m. ET. Otis Chair, CEO & President Judy Marks and Executive Vice President & CFO Anurag Maheshwari will discuss the company's full year and fourth quarter results and 2024 outlook. We encourage you to join through our webcast link. A corresponding presentation and news release will be available on www.otis.com prior to the call and a recording will be ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ____________________________________ FORM 10-Q ____________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR (Exact name of registrant as specified in its charter) ____________________________________ (State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.) Delaware 83-3789412 ...

Summary of Otis Worldwide Corporation Conference Call Company Overview - **Company**: Otis Worldwide Corporation (NYSE:OTIS) - **Event**: Morgan Stanley 11th Annual Laguna Conference Call - **Date**: September 14, 2023 Key Industry Insights - **Strongest Market**: Asia Pacific, with double-digit growth in India and mid-single-digit growth in the rest of the region [4] - **Europe**: Expected to decline by high single digits, with strong performance in Southern Europe (Italy and Spain) but challenges in Germany, France, and the UK due to interest rates and consumer confidence [4] - **Americas**: Latin America is strong, while North America is projected to decline by high single digits [4] - **China**: Market expected to decline by 10%, with uncertainty around consumer buying patterns and bank liquidity affecting property developers [4][6] Financial Performance - **Backlog**: Increased by 5% year-over-year and 3% sequentially, indicating strong order performance [4] - **Revenue Guidance**: New equipment revenue expected to grow by 3% to 5% for the year [4] Strategic Focus Areas - **Key Accounts vs. Volume Business**: Shift towards key accounts has resulted in doubled volume from these accounts since the spin-off, with a focus on predictability and service conversion [8][10] - **Service Portfolio Growth**: Increased service portfolio to 350,000 units, up 75% since the spin-off, with a target of reaching 60% conversion rate in China [10][12] - **Modernization Market**: Anticipated high-single-digit growth due to aging equipment, with 7 million units eligible for modernization [19][20] Competitive Landscape - **Market Consolidation**: Top 10 OEMs control about 90% of the new equipment market, with independent service providers servicing 75% of units in China [14][15] - **Service Margins**: Service margins in China are higher than new equipment margins, contributing positively to overall profitability [17] Technology and Innovation - **Otis ONE**: IoT-connected offering with a target of 60% penetration in the medium term, currently at 800,000 connected units [26] - **Remote Service Pilots**: Ongoing pilots to automate inspections and improve service efficiency [17] Capital Allocation Strategy - **Shareholder Returns**: Increased dividends by 70% since spin-off, with plans for $800 million in share buybacks this year [39] - **M&A Strategy**: Focus on acquiring small independent service providers, targeting $50 million to $70 million annually [39] Conclusion - Otis Worldwide Corporation is navigating a complex global market with a strong focus on service growth, modernization opportunities, and strategic capital allocation, while maintaining a robust backlog and positive revenue guidance for the upcoming year [4][19][39]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ____________________________________ FORM 10-Q ____________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39221 ____________________________________ OTIS ...

Otis Worldwide Corporation (NYSE:OTIS) Q2 2023 Earnings Conference Call July 26, 2023 8:30 AM ET Company Participants Michael Rednor - Senior Director of Investor Relations Judy Marks - Chair, Chief Executive Officer and President Anurag Maheshwari - Executive Vice President and Chief Financial Officer Conference Call Participants Nigel Coe - Wolfe Research Julian Mitchell - Barclays Steve Tusa - JPMorgan Jeffrey Sprague - Vertical Research Partners Nick Housden - RBC Capital Markets Josh Pokrzywinski - Mor ...

Strong second quarter in both segments Creating value for all stakeholders • AENOR Zero Waste to Landfill (ZWTL) Certification of our 3 Spanish factories • San Sebastian factory becomes first factory in Spain to be Platinum LEED certified Iconic Tower El Alamein, Egypt • Adjusted operating profit up $60M with 20 basis points of margin1 expansion 1 See appendix for additional information regarding these non-GAAP financial measures. UpLift raising Otis for sustainable long-term performance Improving operating ...