OTIS REPORTS FIRST QUARTER 2024 RESULTS
Otis Worldwide Corporation (OTIS)
Company Research
Source: PR Newswire
Otis continues to deliver mid-single digit organic Service growth and strong margin expansion1Q Net sales up 2.7% and organic sales up 3.8% driven by Service net sales up 5.8% with organic sales up 6.5%1Q GAAP EPS up 8.9% and adjusted EPS up 10.0% with GAAP operating profit margin expansion of 50 basis points and adjusted operating profit margin expansion of 80 basis points1Q New Equipment orders down 10%, backlog down 2%, ~flat at constant currency1Q Mod orders up 13%, backlog up 14%, up 15% at constant currencyMaintenance portfolio units increased 4.1%1Q GAAP cash flow from operations of $171 million; adjusted free cash flow of $155 million1Q share repurchases of $300 millionUpdated full-year outlook1; increasing adjusted EPS to $3.83 to $3.90 and full year share repurchase target to $1 billionFARMINGTON, Conn., April 24, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE:OTIS) reported first quarter 2024 net sales of $3.4 billion with 3.8% organic growth. GAAP earnings per share
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OTIS
News
- Otis Furthers STEM Education in China with 160 Scholarships for Female Students [Yahoo! Finance]Yahoo! Finance
- Otis India Volunteers Create Urban Forests of Native Trees and Plants [Yahoo! Finance]Yahoo! Finance
- Otis Worldwide (NYSE:OTIS) Is Increasing Its Dividend To $0.39 [Yahoo! Finance]Yahoo! Finance
- Otis Wins Maintenance Portfolio with SMRT Trains, Singapore's Pioneer Rail OperatorPR Newswire
- A Dive into Otis Worldwide (OTIS) International Revenue Trends and Forecasts [Yahoo! Finance]Yahoo! Finance
OTIS
Earnings
- 4/24/24 - Beat
OTIS
Sec Filings
- 5/2/24 - Form DEFA14A
- 4/25/24 - Form 10-Q
- 4/24/24 - Form 8-K
- OTIS's page on the SEC website