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Stock impact report

Otis Worldwide Corporation (OTIS) Has A Lot Of China Revenue, Says Jim Cramer [Yahoo! Finance]

Otis Worldwide Corporation (OTIS) 
Company Research Source: Yahoo! Finance
Otis Worldwide Corporation (NYSE:OTIS) is a specialty industrial equipment company that deals with elevators, escalators, and associated products. Its shares have lost 3% year-to-date, primarily due to a major 12.3% drop in July. The stock fell after Otis Worldwide Corporation (NYSE:OTIS)'s second-quarter earnings results saw its $3.61 billion revenue miss analyst estimates of $3.71 billion. Additionally, the firm's New Equipment business saw China sales fall by 20%. Cramer quoted Otis Worldwide Corporation (NYSE:OTIS)'s CEO as saying that the business remains strong: “Otis, look I'm, Judy Marks is going to come on Mad Money, and she has held in and done great things. And they've had a lot of service revenue, including China. She'd tell you over and over again that that business remains very strong. So I have to find out more, that was a very tough hit. Very good company. That's a spinoff of United Technologies. Pixabay / Public Domain Back in 2024, Cramer had asserted that Oti Show less Read more
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