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Dec 31, 2020
Otis Q4 2020 Earnings Report
Otis delivered strong results with organic sales growth and announced 2021 outlook.
Key Takeaways
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.
4Q Net sales up 4.2% with organic growth of 1.3%.
4Q GAAP operating profit up $4 million with 40 bps of margin contraction.
4Q Adjusted operating profit up $36 million with 50 bps of margin expansion.
Announcing 2021 outlook with organic sales up 2 to 4%, adjusted earnings per share of $2.67 to $2.77 and free cash flow conversion ~120%
Revenue by Segment
Forward Guidance
Otis is announcing its full year outlook: Net sales of $13.3 to $13.6 billion, up 4.5 to 6.5%, Organic sales up 2 to 4%, Adjusted operating profit of $2.05 to $2.1 billion, up $125 to $175 million at actual currency; up $75 to $125 million at constant currency, Adjusted EPS $2.67 to $2.77, up 6 to 10%; adjusted effective tax rate of approximately 29.5%, Free cash flow of $1.3 to $1.4 billion with conversion of approximately 120% of GAAP net income
Positive Outlook
- Net sales of $13.3 to $13.6 billion, up 4.5 to 6.5%
- Organic sales up 2 to 4%
- Organic New Equipment sales up 2 to 5%
- Organic Service sales up 2 to 4%
- Adjusted operating profit of $2.05 to $2.1 billion, up $125 to $175 million at actual currency; up $75 to $125 million at constant currency
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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