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Students to Develop Urban Mobility Solutions Using AI
Prnewswire· 2024-09-10 12:15
In Otis' Made to Move Communities™ global competition, students will apply Artificial Intelligence to enable more inclusive and sustainable mobility solutions. FARMINGTON, Conn., Sept. 10, 2024 /PRNewswire/ -- Artificial Intelligence is revolutionizing the speed, accuracy and scale at which complex challenges are addressed. Over the next several months, more than 250 students from dozens of schools representing more than 15 countries and territories around the world will participate in the Made to Move Comm ...
Here's Why Investors Should Retain OTIS Stock for Now
ZACKS· 2024-08-23 18:41
Despite witnessing higher costs and expenses as well as lower contributions from its New Equipment unit, Otis Worldwide Corporation (OTIS) is generating higher profits and margin expansion. The company is benefiting from solid contributions from its Services segment. Also, this leading elevator and escalator manufacturing company is mainly focusing on innovation and restructuring strategies, as well as increasing investments in research and development ("R&D"). In the past month, OTIS' stock gained 2.5%, ou ...
Here's Why Otis Worldwide (OTIS) is a Strong Growth Stock
ZACKS· 2024-08-20 14:46
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both. Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor. Zacks Premium includes access to the Zacks Style Scores as ...
OTIS Expands Product Offering With New Gen3 Elevator Platform
ZACKS· 2024-08-19 15:55
The primary focus of Otis Worldwide Corporation (OTIS) has been seeking innovation opportunities and making strategic investments in them to foster its growth. Keeping up with this focal aspect, the Thailand subsidiary of Otis has recently disclosed its Gen3-connected elevator platform in Bangkok. Appealing Aspects of the Gen3 Elevator Built upon the breakthrough designs of the Gen2 family of elevators, this new addition houses the Otis ONE IoT digital platform, thus enabling it to proactively communicate b ...
Otis Worldwide: Exceptional Business, But We Have To Reinvest Its Cash Flows
Seeking Alpha· 2024-08-08 11:25
I I F ■ F Matteo Colombo Investment thesis Otis Worldwide Corporation (NYSE:OTIS) is in the elevator and escalator business. It manufactures, installs and services lifts. The company's operations are organized into 2 segments: 1) new equipment and 2) service. OTIS was spun off from United Technologies in 2020 and is now a pure-play on elevators and escalators. For the deal, UTX shareholders received 0.5 shares of Otis for every UTX share owned. The New Equipment segment focuses on manufacturing + installing ...
Otis Declares Quarterly Dividend of $0.39 per Share
Prnewswire· 2024-07-25 20:30
Otis is the world's leading elevator and escalator manufacturing, installation and service company. We move 2.3 billion people a day and maintain approximately 2.3 million customer units worldwide, the industry's largest Service portfolio. Headquartered in Connecticut, USA, Otis is 71,000 people strong, including 42,000 field professionals, all committed to meeting the diverse needs of our customers and passengers in more than 200 countries and territories worldwide. To learn more, visit www.otis.com and fo ...
Otis Worldwide (OTIS) - 2024 Q2 - Quarterly Report
2024-07-25 20:10
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, 2024 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: Calling It Again - Return To All-Time High Likely
Seeking Alpha· 2024-07-25 11:07
2024 Q2/H1 Interim Results OTIS o 2004 H1 2024 segment net sales results New Equipment Service Otis YN Y/Y (7.2%) (8.4%) 5.874 OTIS @ 2004 of I W Outlook – 2H 2024 and beyond Industry & 2024 outlook Looking beyond 2024, during the Otis Investor Day held in February this year, Otis provided some guidance on their views of the market through 2028. Focusing first on the New Equipment section, they expect growth to be roughly flat through 2028, with unit growth around 0.8% annually. While Otis can see some upsi ...
OTIS Q2 Earnings Beat, Net Sales Miss, '24 Outlook Revised
ZACKS· 2024-07-24 17:50
However, quarterly net sales missed the consensus mark and declined on a year-over-year basis. Thanks to the continuous strength of its modernization strategy, the company witnessed order growth of more than 10% for eight consecutive quarters, leading to mid-teens backlog growth. Shares of this elevator and escalator manufacturing company lost 3.8% in the pre-market trading session on Jul 24. The company reported quarterly earnings of $1.06 per share, which surpassed the Zacks Consensus Estimate of $1.03 by ...
Otis Worldwide (OTIS) - 2024 Q2 - Earnings Call Transcript
2024-07-24 15:32
Nigel Coe Yeah. Thanks. I think you got it pretty much, but let me give a little bit more color, right? In the first half, we built about $300 million of working capital and primarily due to two reasons. The first reason what you mentioned, New Equipment orders, we typically receive down payments and that auto environment has obviously been challenging for the first half. The second, which I think is the largest driver is that the Service business grew faster than the New Equipment business, and we tend to ...