Otis Q1 adj EPS $0.77 (+6.9% YoY); organic sales +3.1%; revises FY outlook excluding Russia

Otis Worldwide Corp

2022-Q1 EPS reported $0.73 revenue$3,414,000,000

Net sales $3.4B (+0.2% reported, +3.1% organic); GAAP EPS $0.73 (+2.8%).
Adjusted EPS $0.77 (+6.9%); adjusted operating margin 15.9% (+30bps).
New Equipment orders +8.8% constant currency; backlog +6% constant currency; Service organic +5.8%.
Completed $200M buyback, repaid $500M debt; increased dividend >20%.
FY 2022 outlook: organic sales +3-4%, adj EPS $3.22-$3.27, FCF ~$1.6B (excl. Russia).

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