What's Going On With Otis Shares Wednesday?
Portfolio Pulse from Dylan Berman
Otis Worldwide Corporation's shares are declining after reporting Q3 2024 results that missed expectations and lowering its annual outlook. Despite a slight increase in EPS and sales, the company faces challenges in equipment sales, particularly in China.
October 30, 2024 | 2:51 pm
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Otis Worldwide reported Q3 2024 results that missed analyst expectations, with EPS at 96 cents and sales at $3.54 billion. The company lowered its annual outlook, impacting its stock price negatively.
Otis missed both EPS and sales estimates for Q3 2024 and lowered its annual guidance, which is likely to negatively impact investor sentiment and the stock price in the short term. The decline in equipment sales, especially in China, adds to the negative outlook.
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IMPORTANCE 90
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