Otis is a global leader in the elevator and escalator industry, providing innovative mobility solutions that enhance the experience of urban living
The company designs, manufactures, and services a wide range of elevators, escalators, and moving walkways, catering to various sectors such as commercial, residential, and industrial. With an emphasis on safety, reliability, and energy efficiency, Otis utilizes advanced technologies and smart solutions to optimize transportation in buildings, ensuring smooth and efficient movement for millions of people worldwide. Their commitment to sustainability and customer satisfaction drives their operations and strategic initiatives, positioning Otis as a prominent player in the vertical transportation market.
On an adjusted basis, the company reported a net income of $0.93 per share for the fourth quarter, missing the Wall Street estimate of $0.96 per share, according to FinChat data.
Elevator manufacturer Otis (NYSEOTIS) reported Q4 CY2024 results beating Wall Street’s revenue expectations, with sales up 1.5% year on year to $3.68 billion. On the other hand, the company’s full-year revenue guidance of $14.25 billion at the midpoint came in 2.1% below analysts’ estimates. Its non-GAAP profit of $0.93 per share was 2.8% below analysts’ consensus estimates.
Otis Worldwide Corp reported Q1 2024 sales of $3.437B, up 2.7% YoY but missing consensus. Adjusted operating profit and EPS improved, while cash flow and share repurchase increased. 2024 outlook revised with higher EPS and dividend.
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the general industrial machinery industry, including Crane (NYSECR) and its peers.
Looking back on general industrial machinery stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Hillenbrand (NYSEHI) and its peers.
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at general industrial machinery stocks, starting with Otis (NYSEOTIS).
While the S&P 500 is up 13% since May 2024, Otis (currently trading at $102.52 per share) has lagged behind, posting a return of 7.6%. This was partly driven by its softer quarterly results and might have investors contemplating their next move.
Elevator manufacturer Otis (NYSEOTIS) met Wall Street’s revenue expectations in Q3 CY2024, but sales were flat year on year at $3.55 billion. The company’s full-year revenue guidance of $14.2 billion at the midpoint also came in 1.1% below analysts’ estimates. Its non-GAAP profit of $0.96 per share wasalso in line with analysts’ consensus estimates.
