secwatch.observer — SEC 8-K summary
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Issuer:     Otis Worldwide Corp (OTIS)
CIK:        0001781335
Form:       8-K
Filed at:   2022-10-26T23:59:59+00:00
Accession:  0001781335-22-000041
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Otis Q3 adjusted EPS up 5.3% to $0.80; organic sales up 0.8%; raises share buyback target to $850M
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- GAAP EPS $0.77 flat YoY; adjusted EPS $0.80 up 5.3%, driven by Service and lower share count.
- Net sales $3.34B down 7.6% but organic sales up 0.8%; foreign exchange headwind 7.2%.
- New Equipment orders down 0.8% overall, up 7.4% ex-China; adjusted backlog up 12% at constant currency.
- Service organic sales up 6.2%; maintenance portfolio units up 3.8% YoY.
- Full-year outlook: organic sales +2.0-2.5%, adj EPS $3.11-$3.15, FCF $1.5-$1.6B; buyback target raised to $850M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1781335/000178133522000041/0001781335-22-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1781335/000178133522000041/otis-20221026.htm
  HTML page:      https://secwatch.observer/filing/0001781335-22-000041

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