OTIS Q2 Earnings Beat, Net Sales Miss, '24 Outlook Revised

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 ...