Otis Earnings Reports

Otis reported a 1.5% increase in net sales and a 6.9% increase in adjusted EPS for the fourth quarter of 2024. The company's service segment drove growth, with service sales up 7.6% and service organic sales up 7.8%. Modernization orders also saw a significant increase of 18%.

Otis reported Q3 2024 net sales of $3.5 billion, with organic sales up 1.2%. GAAP EPS increased 47.3% to $1.34, and adjusted EPS increased 1.1% to $0.96. The company's Service-driven business model continued to show strength, with modernization organic sales accelerating and portfolio growth exceeding 4% for the eighth consecutive quarter.

Otis reported solid quarterly performance driven by the strength in the Service segment. The company's overall performance delivered mid-teens EPS growth and, based on this performance, Otis is raising its EPS outlook.

Otis reported a 2.7% increase in net sales and a 3.8% increase in organic sales, driven by a strong service sector performance. The company's GAAP EPS increased by 8.9% and adjusted EPS increased by 10.0%. Due to a strong first quarter, Otis increased its EPS outlook and share repurchase target.

Otis delivered excellent fourth quarter results with mid-teens adjusted EPS growth, the third consecutive quarter of high-single digit Service organic sales growth, and a return to New Equipment orders growth. Full year 2023 was marked by mid-single digit organic sales growth, operating profit margin expansion and low teens adjusted EPS growth.

Otis reported strong Q3 2023 results, with net sales of $3.5 billion, a 5.2% increase in organic sales, and an 18.8% increase in adjusted EPS to $0.95. The company's performance was driven by its Service segment, which experienced organic sales growth and margin expansion. Otis has raised its full-year outlook for organic sales and adjusted EPS.

Otis reported a strong second quarter with a 9.5% increase in organic sales and a 7.0% increase in adjusted EPS. The company is raising its full-year guidance and increasing share repurchases.

Otis Worldwide Corporation reported a decrease in net sales by 2.0% to $3.3 billion, but organic sales increased by 3.6%. GAAP EPS increased by 8.2% to $0.79, and adjusted EPS increased by 5.3% to $0.80. New Equipment orders were up 7.4%, and the maintenance portfolio units increased by 4.2%.

Otis reported strong Q4 2022 results, with a 6.1% increase in organic sales and growth in both New Equipment and Service segments. The company's maintenance portfolio units increased by 4.1%.

Otis Worldwide Corporation reported third quarter 2022 net sales of $3.3 billion with 0.8% organic growth. GAAP diluted earnings per share (EPS) of $0.77 was flat versus the prior year and adjusted EPS increased 5.3% to $0.80. The company has revised full-year outlook with organic sales up 2.0 to 2.5%, adjusted EPS of $3.11 to $3.15 and free cash flow of $1.5 to $1.6 billion. Increased full-year share repurchase target to $850 million.

Otis reported second quarter 2022 net sales of $3.5 billion with 0.4% organic growth. GAAP diluted earnings per share (EPS) of $0.76 was flat versus the prior year and adjusted EPS increased 11.7% to $0.86.

Otis reported first quarter 2022 net sales of $3.4 billion with 3.1% organic growth. GAAP diluted earnings per share (EPS) increased 2.8% to $0.73 and adjusted EPS increased 6.9% to $0.77. The company is revising its full year outlook to exclude Russia.

Otis reported a strong fourth quarter, with net sales up 2.2% and organic sales up 2.8%. GAAP EPS increased by 12.1% and adjusted EPS increased by 9.1%. The company's maintenance portfolio units grew by 3% and new equipment orders increased by 7.3%.

Otis Worldwide Corporation reported strong third quarter results with net sales of $3.6 billion, a 10.8% increase, and organic sales up by 8.1%. GAAP EPS increased by 26.2% and adjusted EPS increased by 11.6%. The company has improved its full-year outlook with organic sales expected to increase by 8.5 to 9.0% and adjusted EPS of approximately $2.95.

Otis Worldwide Corporation reported strong second quarter 2021 results, with net sales of $3.7 billion, a 22.2% increase compared to the prior year, and organic sales up 15.4%. GAAP EPS increased 46.2% to $0.76, and adjusted EPS increased 41.1% to $0.79. The company improved its full-year outlook, raising the share repurchase target to $750 million.

Otis reported strong first quarter results with a 14.9% increase in net sales and a 10.3% increase in organic sales. GAAP EPS increased 86.8% to $0.71, and adjusted EPS increased 20.0% to $0.72. The company has improved its full-year outlook.

Otis reported a 4.2% increase in fourth-quarter net sales, with a 1.3% organic growth. GAAP diluted earnings per share (EPS) increased 16.0% to $0.58, and adjusted diluted EPS increased 40.4% to $0.66.