Otis Worldwide Revises FY2024 Adj EPS Guidance from $3.83-3.90 To $3.85-$3.90 vs $3.87 Est; Lowers FY2024 Sales Guidance from $14.50B-$14.80B To $14.30B-$14.50B vs $14.62B Est
Portfolio Pulse from Benzinga Newsdesk
Otis Worldwide has revised its FY2024 adjusted EPS guidance to $3.85-$3.90 from $3.83-$3.90, aligning with the $3.87 estimate. The company also lowered its FY2024 sales guidance to $14.30B-$14.50B from $14.50B-$14.80B, compared to the $14.62B estimate. Organic sales are expected to rise 1%-3%, with new equipment sales down mid-single digits and service sales up 6%-7%. Adjusted operating profit is projected to be $2.40B-$2.45B, and adjusted free cash flow is expected to be $1.5B-$1.6B.
July 24, 2024 | 10:19 am
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Otis Worldwide has revised its FY2024 adjusted EPS guidance to $3.85-$3.90 and lowered its sales guidance to $14.30B-$14.50B. Organic sales are expected to rise 1%-3%, with new equipment sales down mid-single digits and service sales up 6%-7%. Adjusted operating profit is projected to be $2.40B-$2.45B, and adjusted free cash flow is expected to be $1.5B-$1.6B.
The revision in EPS guidance is minor and aligns with estimates, which is neutral for the stock. However, the lowered sales guidance could be seen as a negative, but the increase in service sales and adjusted operating profit provides a balanced outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100