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

RTTNews | 939 gün önce
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

Etiketler: OTIS
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 | 404 gün önce
European Shares Seen Higher At Open

European Shares Seen Higher At Open

European stocks are seen opening broadly higher on Thursday even as Nvidia's disappointing sales forecast raised concerns about the AI spending boom.
RTTNews | 1s 42 dakika önce
Sensex Nifty Decline On Tariff Worries

Sensex Nifty Decline On Tariff Worries

Indian shares opened on a sluggish note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect, impacting trade worth billions of dollars and risking Washington-New Delhi ties.
RTTNews | 2s 34 dakika önce
European Economic News Preview: Eurozone Economic Sentiment Data Due

European Economic News Preview: Eurozone Economic Sentiment Data Due

Economic confidence and monetary aggregates from the euro area and flash GDP from Switzerland are the top economic news due on Thursday. At 3.00 am ET, the State Secretariat for Economic Affairs is slated to release Swiss GDP data for the second quarter. The economy is expected to grow 0.1 percent sequentially after rising 0.5 percent in the first quarter.
RTTNews | 2s 35 dakika önce
Australian Market Trims Early Losses In Mid-market

Australian Market Trims Early Losses In Mid-market

The Australian market is trimming early losses in mid-market moves on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.
RTTNews | 4s 1 dakika önce
Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders remain optimistic the US Fed will cut interest rates at their next meeting in September. They also remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the Fed's preferred readings on consumer price inflation.
RTTNews | 4s 16 dakika önce