secwatch.observer — SEC 8-K summary
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Issuer:     Otis Worldwide Corp (OTIS)
CIK:        0001781335
Form:       8-K
Filed at:   2022-07-27T23:59:59+00:00
Accession:  0001781335-22-000034
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Otis Q2 adj EPS $0.86 +11.7%, NE orders +16.5%, revises FY outlook to adj EPS $3.17-$3.21
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- GAAP EPS flat at $0.76; adjusted EPS $0.86 (+11.7%); net sales $3.49B (-5.8% reported, +0.4% organic)
- New Equipment orders up 16.5%; backlog up 6% (adjusted +10% at constant currency)
- Service segment organic sales +5.2%; adjusted op margin expanded 50 bps to 23.1%
- Free cash flow $800M YTD (127% of net income); FY free cash flow guidance ~$1.6B
- 2022 outlook: organic sales +2.5-3.5%, adj EPS $3.17-$3.21, up 7-9%

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1781335/000178133522000034/0001781335-22-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1781335/000178133522000034/otis-20220727.htm
  HTML page:      https://secwatch.observer/filing/0001781335-22-000034

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