OTIS Stock Recent News

Otis delivers solid fourth quarter and full year results; announces 2025 outlook with sustained earnings growth driven by continued Service momentum Fourth quarter 2024 Net sales up 1.5% and organic sales up 1.9%, driven by Service sales up 7.6% and Service organic sales up 7.8% GAAP EPS up 6.3% and adjusted EPS up 6.9% with continued margin expansion Maintenance portfolio units increased 4.2% Modernization orders up 18%; backlog up 10%, 13% at constant currency GAAP cash flow from operations of $690 million; adjusted free cash flow of $682 million; share repurchases of $200 million Full year 2024 Net sales up 0.4% and organic sales up 1.4%, driven by Service sales up 5.9% and Service organic sales up 6.8% GAAP EPS up 20.1% and adjusted EPS up 8.2% GAAP cash flow from operations of $1.6 billion, adjusted free cash flow of $1.6 billion; share repurchases of $1.0 billion Outlook for full year 2025*: Organic sales up 2 to 4%, adjusted earnings per share of $4.00 to $4.10 and adjusted free

Otis Worldwide Corporation, despite international headwinds, shows resilience with projected net sales and EPS growth of 1.2% and 9% respectively, driven by strong financials and buybacks. The company faces challenges, particularly in China, but maintains a solid balance sheet, minimal CAPEX, and a strong dividend growth track record. Lower interest rates and frequent buybacks provide tailwinds, positioning Otis for potential upside with a 2026 price target of $115 per share.

The Q4 earnings season continued on a positive note after big banks and other financials struck a bullish tone in the first two weeks of reporting. Highly anticipated reports from the Magnificent 7 will be in focus over the next couple of weeks. Southwest Airlines is set to report their Q4 2024 results on Thursday, January 30, a week later than expected.

Dive in to know more about the factors likely to influence OTIS' fourth-quarter 2024 results.

Dublin, Jan. 27, 2025 (GLOBE NEWSWIRE) -- The "Elevator Manufacturing in the US - Industry Market Research Report" has been added to ResearchAndMarkets.com's offering.

Otis Worldwide (OTIS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

FARMINGTON, Conn. , Jan. 16, 2025 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) today announced that its Board of Directors has authorized the repurchase of $2 Billion of Common Stock under a share repurchase program, effective January 16, 2025.

FARMINGTON, Conn. , Jan. 8, 2025 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) will host a conference call on Wednesday, January 29, 2025, at 8:30 a.m.

FARMINGTON, Conn. , Oct. 9, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) will host a conference call on Wednesday, October 30, 2024, at 8:30 a.m.

Otis is set to modernize Melbourne's iconic 101 Collins Street building, enhancing efficiency and sustainability.