OTIS Stock Recent News

OTIS benefits from robust R&D investments and operational improvements, reflecting solid backlog and order volume.

Otis Worldwide Corp (OTIS) posted its third-quarter earnings on Wednesday, reporting net sales of $3.5 billion, showing 5.2% organic growth. The company says it has remained resilient despite economic headwinds across the globe, growing business in all regions of operation.

Solid operational improvement, a lower share count and an effective tax rate improvement boost Otis' (OTIS) Q3 earnings.

Otis Worldwide (OTIS) came out with quarterly earnings of $0.95 per share, beating the Zacks Consensus Estimate of $0.87 per share. This compares to earnings of $0.80 per share a year ago.

OTIS Worldwide Corporation is a global leader in the elevator and escalator industry, operating in over 200 countries. The company showcased strong organic growth in new equipment sales, but NE orders decreased compared to the previous year. Despite mixed signals, management remains optimistic about growth in 2023 and expects an uptick in revenue compared to the prior year.

Otis Worldwide Corporation (NYSE:OTIS ) Morgan Stanley 11th Annual Laguna Conference Call September 14, 2023 12:20 PM ET Company Participants Judy Marks - Chair, Chief Executive Officer and President Conference Call Participants Joshua Pokrzywinski - Morgan Stanley Joshua Pokrzywinski All right. Good morning, everybody.

The elevator and escalator manufacturing industry is highly concentrated and sees only a few big players. Otis is the largest among them and, since its recent spin-off, it has been able to deliver improving results. Although orders are in decline, the service segment needs to be considered carefully as it reaches numbers worthy to look at.

Otis is a leading global elevator and escalator manufacturer. I believe the stock is undervalued with a potential upside of 5-20%, offering a favorable risk/reward opportunity. The company's 1H 2023 results outperformed the same period in 2022, with strong growth in its Service business; however, challenges remain, particularly in the China market and global wage inflation. I believe Otis's future success will depend on its capital allocation strategy, and its ability to secure new installation projects and convert them into Service Business customers.

Solid operational improvement, organic sales growth and a lower share count boost Otis's (OTIS) Q2 earnings.

Although the revenue and EPS for Otis Worldwide (OTIS) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.