OTIS REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS

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 ...