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Mar 31, 2022
Otis Q1 2022 Earnings Report
Delivered strong first quarter results including mid-single digit organic Service sales growth and high-single digit adjusted EPS growth.
Key Takeaways
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.
1Q Net sales up 0.2% and organic sales up 3.1% with GAAP EPS up 2.8% and adjusted EPS up 6.9%
1Q New Equipment orders up 8.8%; backlog up 4%, up 6% at constant currency with growth in all regions
1Q Maintenance portfolio units were up more than 3%
1Q GAAP cash flow from operations of $504 million; free cash flow of $474 million, or 152% of net income
Revenue by Segment
Forward Guidance
Otis expects to achieve 3 to 4% organic sales growth and 10% adjusted EPS growth, at the midpoint.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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