Otis Worldwide Q4 Results Top Estimates; Guides FY24 In Line With View
(RTTNews) - Otis Worldwide Corp. (OTIS) reported Wednesday that net income for the fourth quarter grew to $323 million or $0.79 per share from $297 million or $0.71 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $0.87 per share, compared to $0.75 per share in the year-ago quarter.
Net sales for the quarter increased 5.3 percent to $3.62 billion from $3.44 billion in the same quarter last year. Organic sales growth was 3.9 percent.
On average, analysts polled by Thomson Reuters were expecting the company to report earnings of $0.86 per share in revenues of $3.57 billion for the quarter. Analysts typically exclude one-time items.
Looking ahead to fiscal 2024, the company now projects adjusted earnings in a range of $3.80 to $3.90 per share on net sales between $14.5 billion to $14.8 billion, with organic sales growth of 3 to 5 percent. The Street is looking $3.85 per share on net sales of $14.66 billion for the year.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Otis Worldwide Appoints Cristina Mendez As CFO
Otis Worldwide Q4 Results Top Estimates; Guides FY23 In Line With View
Swiss Market Ends Notably Lower; Sika, Novartis Decline Sharply
European Stocks Close Mostly Lower As Investors Await Central Banks Rate Decisions
Canadian Market Advances; Cameco, Celestica Up Sharply
U.S. Consumer Confidence Edges Modestly Lower In October
PayPal Lifts FY25 Outlook Above Market, Teams With OpenAI; Stock Up
