GAAP EPS up 13.3% and adjusted EPS up 15.2% with continued margin expansion Service net sales up 3.0% and Service organic sales up 5.1% Mod orders up 14%, backlog up 15%, up 17% at constant currency Maintenance portfolio units increased 4.2% GAAP cash flow from operations of $308 million; adjusted free cash flow of $353 million Share repurchases of $300 million 1H GAAP EPS up 11.2% and adjusted EPS up 12.8%, GAAP operating profit margin expansion of 30 basis points and adjusted operating profit margin expan ...

Exhibit 99 OTIS REPORTS SECOND QUARTER 2024 RESULTS Otis delivers continued strong Service performance leading to mid-teens EPS growth FARMINGTON, Conn., July 24, 2024 – Otis Worldwide Corporation (NYSE:OTIS) reported second quarter 2024 net sales of $3.6 billion with organic sales down 1.2%. GAAP earnings per share (EPS) increased 13.3% to $1.02 and adjusted EPS increased 15.2% to $1.06. "Otis delivered solid quarterly performance led by the strength in our Service segment, which delivered portfolio growth ...

Otis Worldwide Corporation (OTIS) is scheduled to report second-quarter 2024 results on Jul 24, before the opening bell. Trend in Estimate Revision The world's leading elevator and escalator company's second-quarter 2024 performance is likely to have benefited from higher volume, favorable pricing and improved productivity. Also, the company's focus on acquisitions, product innovations and the integration of new technologies driven by ongoing research and development efforts is likely to have aided its seco ...

"Cristina has deep expertise in financial management and extensive experience leading transformation within and outside Otis. She understands our long-term strategy and service-driven business model and how to drive growth and shareholder value," said Marks. "As a strategic business partner, she has successfully led our finance teams through change with solid results in our diverse Europe Middle East and Africa (EMEA) region, which is responsible for more than half of our global Service portfolio." "We are ...

Otis Worldwide Corp. (OTIS) , a global leader in elevator and escalator manufacturing, installation, and service, has been awarded a significant contract for the Sydney Metro – Western Sydney Airport project. The company will install 40 520NPE public escalators and 21 Gen3 and Gen2 elevators for the driverless metro railway line. The Sydney Metro – Western Sydney Airport project is an ambitious 23-kilometre driverless metro line featuring six new stations. Once completed, it will serve as a crucial transpor ...

FARMINGTON, Conn., July 10, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) will host a conference call on Wednesday, July 24, 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 second 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 available on the ...

This project of Otis Worldwide with Masterise Homes in Hanoi stands at number three, preceded by two other residential developments including the Ocean Park and Smart City high-end residential projects. In 2023-end, it had 11 R&D centers and 17 factories across the world, primarily in China, India, Japan, France, Germany, Spain, and the United States. These centers are strategically placed to enable the efficient development of engineering solutions. Also, it has approximately 1,200 engineers globally, with ...

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"Our 2023 ESG report highlights critical programs and recent successes that are central to the continued growth and integrity of our business," said Otis Chair, CEO and President Judy Marks. "Our ESG pillars are embedded in our long-term strategy and purposefully connected to our Absolutes of Safety, Ethics and Quality, the core principles that guide us in doing the right thing as we conduct business around the world every day. By transparently reporting on our progress, we hold ourselves accountable, and w ...

However, the aforementioned tailwinds are partially offset by headwinds in the form of high costs and expenses, along with the high concentration of the company's business in the international market. Shares of this leading elevator and escalator manufacturing, installation and service company have gained 10.7% in the past year compared with the Zacks Building Products - Miscellaneous industry's 35.7% growth. What Makes the Stock Appealing Solid Modernization Backlog: In the first quarter of 2024, moderniza ...