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Otis Worldwide (OTIS)
NYSE:OTIS
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Earnings Data
Report Date
Jan 29, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.96Last Year’s EPS
0.87Same Quarter Last Year
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jul 28, 2020
|% Change Since: -6.14%
|Next Earnings Date:May 07, 2020
Earnings Call Sentiment|Neutral
The earnings call indicates a robust performance in the Service segment and strong shareholder returns, but these are tempered by significant challenges in the China market and New Equipment sales decline. The overall sentiment reflects a balanced view with positive service growth but ongoing challenges in China.Company Guidance
During the Otis Third Quarter 2024 Earnings Conference Call, significant guidance was provided for the company's financial outlook and operational performance. The company achieved a 6.4% year-to-date growth in service organic sales and a 4.2% maintenance portfolio growth, with a 12% increase in the modernization backlog at constant currency. Adjusted operating profit margin expanded by 60 basis points, while adjusted EPS grew by 8.2% year-to-date. The company generated $381 million in adjusted free cash flow during the third quarter and completed $200 million in share repurchases, amounting to $900 million in adjusted free cash flow year-to-date and $800 million returned to shareholders through repurchases. Otis expects 2024 sales of approximately $14.2 billion with organic sales growth of 1.5%, and anticipates adjusted EPS to reach around $3.85, reflecting a 9% increase. The company also plans $1.4 billion to $1.5 billion in adjusted free cash flow, with a strategic focus on capital allocation, including $1 billion in share repurchases.Service Segment Growth
Service organic sales grew by 7.7% in Q3, with maintenance portfolio growth of 4.2% and modernization backlog increase of 12% at constant currency.
Strong Financial Performance
Otis achieved an 8.2% adjusted EPS growth year-to-date and expanded overall adjusted operating profit margin by 60 basis points.
Shareholder Returns
The company generated $381 million in adjusted free cash flow in Q3 and completed $200 million in share repurchases.
Recognition and Certifications
Otis was named one of the world's best employers by Forbes Magazine and achieved ISO 5001 certification for its manufacturing hub in Korea.
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OTIS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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OTIS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $100.97 | $97.90 | -3.04% |
| Jul 24, 2024 | $97.58 | $90.69 | -7.06% |
| Apr 24, 2024 | $96.29 | $92.24 | -4.21% |
| Jan 31, 2024 | $88.58 | $87.05 | -1.73% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Otis Worldwide (OTIS) report earnings?
Otis Worldwide (OTIS) is schdueled to report earning on Jan 29, 2025, TBA Not Confirmed.
What is Otis Worldwide (OTIS) earnings time?
Otis Worldwide (OTIS) earnings time is at Jan 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is OTIS EPS forecast?
OTIS EPS forecast for the fiscal quarter 2024 (Q4) is 0.96.
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