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Otis Worldwide Corporation has a short dividend track record but has the potential to be a long-term hold for dividend investors. The company has shown impressive dividend growth, increasing the dividend by 70% since 2020. OTIS has been actively repurchasing shares and has room to continue raising the dividend, with a safe payout ratio and growing cash flows.
Urbanization stocks are a cohort of stocks I haven't spent much time thinking about in recent years. However, I am concerned about climate change, so I think it's time I start paying closer attention.
Otis showcases resilience in its service-centric model, navigating challenges in elevator industry markets. Financially stable Q3 results reveal steady growth in sales, increased service orders, and strategic dividend policies. In this article, we go over the latest financials while addressing critical issues such as China and Otis' negative equity.
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.