secwatch.observer — SEC 8-K summary
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Issuer:     Otis Worldwide Corp (OTIS)
CIK:        0001781335
Form:       8-K
Filed at:   2022-04-25T23:59:59+00:00
Accession:  0001781335-22-000012
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1781335/000178133522000012/0001781335-22-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1781335/000178133522000012/otis-20220425.htm
  HTML page:      https://secwatch.observer/filing/0001781335-22-000012

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer