Otis Worldwide Q4 Results Top Estimates; Guides FY23 In Line With View

RTTNews | 1054天前
Otis Worldwide Q4 Results Top Estimates; Guides FY23 In Line With View

(RTTNews) - Otis Worldwide Corp. (OTIS) reported Wednesday that net income for the fourth quarter grew $297 million or $0.71 per share from $281 million or $0.65 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $0.75 per share, compared to $0.72 per share in the year-ago quarter.

Net sales for the quarter declined 3.6 percent to $3.44 billion from $3.57 billion in the same quarter last year. Adjusted net sales decreased 1.9 percent. Organic sales growth was 6.1 percent.

On average, analysts polled by Thomson Reuters were expecting the company to report earnings of $0.74 per share in revenues of $3.37 billion for the quarter. Analysts typically exclude one-time items.

Looking ahead to fiscal 2023, the company now projects adjusted earnings in a range of $3.35 to $3.50 per share on net sales between $13.8 billion to $14.1 billion, with organic sales growth of 4 to 6 percent. The Street is looking $3.44 per share on net sales of $13.88 billion for the year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
Otis Worldwide Appoints Cristina Mendez As CFO

Otis Worldwide Appoints Cristina Mendez As CFO

Otis Worldwide Corp. (OTIS) announced Friday the appointment of Cristina Mendez as Executive Vice President & Chief Financial Officer, reporting directly to Otis Chair, CEO and President, Judy Marks.
RTTNews | 520天前
European Markets Close Higher As Stocks Recover After Cautious Start

European Markets Close Higher As Stocks Recover After Cautious Start

European stocks closed higher on Friday, and several markets in the region climbed to fresh highs, with investors reacting to the interest rate decisions by major central banks. Expectations of more monetary easing by the Federal Reserve contributed as well to the positive mood in the markets.
RTTNews | 1天前
U.S. Consumer Sentiment Rebounds Less Than Previously Estimated In December

U.S. Consumer Sentiment Rebounds Less Than Previously Estimated In December

Consumer sentiment in the U.S. rebounded by less than previously estimates in the month of December, according to revised data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index for December was downwardly revised to 52.9 from a preliminary reading of 53.3. Economists had expected the index to be upwardly revised to 53.4.
RTTNews | 1天前
U.S. Existing Home Sales Rise Less Than Expected In November

U.S. Existing Home Sales Rise Less Than Expected In November

Existing home sales in the U.S. saw a modest increase in the month of November, the National Association of Realtors revealed in a report released on Friday. NAR said existing home sales rose by 0.5 percent to an annual rate of 4.13 million in November after jumping by 1.5 percent to an upwardly revised rate of 4.10 million in October.
RTTNews | 1天前