Otis Worldwide Narrows FY24 Outlook: Adj EPS From $3.85-$3.90 to $3.85 vs $3.87 Est; Sales from $14.30B-$14.50B to $14.20B vs $14.42B Est
Portfolio Pulse from Benzinga Newsdesk
Otis Worldwide has revised its FY24 outlook, adjusting its expected net sales to $14.2 billion and adjusted EPS to $3.85. The company anticipates organic sales growth of 1.5%, with a decline in new equipment sales but an increase in service sales. Adjusted operating profit is expected to rise by $140 million at constant currency.
October 30, 2024 | 10:11 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Otis Worldwide has adjusted its FY24 financial outlook, lowering its sales and EPS estimates. The company expects organic sales growth, driven by service sales, despite a decline in new equipment sales.
Otis Worldwide's revised outlook indicates a slight reduction in expected sales and EPS, which may negatively impact investor sentiment. The decline in new equipment sales is a concern, although service sales growth provides some offset. Overall, the news suggests a cautious outlook for Otis, likely leading to a short-term negative impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100