Otis Q3 Adjusted EPS Tops Estimates at $1.05; Sales Also Beat
OTIS sits 19% above its 52-week low of $63.575.
Summary
Otis beat on both lines for Q3: adjusted EPS of $1.05 came in two cents above the $1.03 IBES estimate, and sales of $3.9 billion edged past the $3.875 billion consensus. GAAP EPS was $1.08, and net income was $414 million. The beat is modest in magnitude but broad-based, with revenue and profit both ahead. Looking ahead, the company guided FY adjusted EPS to $4.01-$4.05 and FY sales to $15.1 billion-$15.3 billion. This is the first quarterly print since the September 8-K disclosing CEO Judy Marks' planned retirement by July 31, 2027, so the board's succession search remains the bigger overhang.
At the time of this announcement, OTIS was trading at $75.35 on NYSE in the Manufacturing sector, with a market capitalization of approximately $28.2B. The 52-week trading range was $63.58 to $94.57. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.