Elevator Company Otis' Q3: 5.4% Revenue Growth, EPS Beat, Raised FY23 EPS Outlook & More
Portfolio Pulse from Lekha Gupta
Otis Worldwide Corp reported Q3 2023 sales growth of 5.4% Y/Y to $3.52 billion, in line with consensus. Adjusted operating profit increased to $595 million from $543 million, and the margin expanded by 60 bps to 16.9%. Adjusted EPS improved to $0.95 (+18.8% Y/Y), beating the consensus of $0.87. The company revised its FY23 outlook for adjusted net sales to ~$14.1 billion and adjusted EPS to ~$3.52. However, OTIS shares are trading lower by 1.64% at $76.00 premarket.
October 25, 2023 | 12:42 pm
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Otis Worldwide Corp reported strong Q3 2023 results and raised its FY23 outlook. Despite this, OTIS shares are trading lower premarket.
Otis Worldwide Corp reported strong Q3 2023 results, with sales growth of 5.4% Y/Y and adjusted EPS beating consensus. The company also raised its FY23 outlook. Despite these positive results, OTIS shares are trading lower premarket, which could indicate investor concerns not directly related to the earnings report.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100