Otis Worldwide (US:OTIS)2021-10-25 14:09Q3 2021 Performance Highlights - New Equipment orders increased by 3.8% at constant currency, and up 10.3% on a rolling 12-month basis[8] - The company's Maintenance portfolio grew by 3%[6] - Otis achieved organic sales growth of 8.1%, with New Equipment sales up 14.1% and Service sales up 3.6%[9] - Adjusted operating profit margin expanded by 20 bps[9] - Free cash flow reached $324 million, representing a 141% conversion of GAAP net income[9] Revised 2021 Outlook - Net sales are projected to increase by approximately 11.8% to 12.3%, with organic sales growth of 8.5% to 9.0%[9] - Adjusted operating profit is expected to range from $2.18 billion to $2.19 billion, an increase of $260 million to $270 million[10] - Adjusted diluted EPS is anticipated to be around $2.95, reflecting a growth of approximately 17%[10] - Free cash flow is projected to be between $1.5 billion and $1.55 billion, with a conversion rate of approximately 125% of GAAP net income[10] Segment Results - New Equipment net sales increased by 18.1%, with organic sales up 14.1%[15] - Service net sales increased by 5.1%, with organic sales up 3.6%[19]