Otis Worldwide Raises FY2023 Adj EPS Guidance From $3.45-3.50 To $3.52 Vs $3.47 Est; Revises FY2023 Sales Guidance From $14.00B-14.30B To $14.1B Vs $14.13B Est
Portfolio Pulse from Benzinga Newsdesk
Otis Worldwide has revised its FY2023 guidance, raising its adjusted EPS from $3.45-3.50 to $3.52, and its sales guidance from $14.00B-14.30B to $14.1B. The company expects adjusted net sales of $14.1 billion, up 4%, and an adjusted operating profit of $2.265 billion. It also plans to repurchase $800 million of its shares.
October 25, 2023 | 10:10 am
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Otis Worldwide has raised its FY2023 EPS and sales guidance, which could boost investor confidence and potentially lead to a short-term increase in the company's stock price.
The upward revision of both EPS and sales guidance indicates that Otis Worldwide is expecting stronger financial performance in FY2023 than previously anticipated. This could make the company's stock more attractive to investors, potentially leading to an increase in demand and a short-term rise in the stock price. The planned share repurchases could also provide additional upward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100