{"schema_version":"secwatch.filing_event.v1","accession":"0001781335-23-000013","form_type":"8-K","ticker":"OTIS","cik":"0001781335","company_name":"Otis Worldwide Corp","filed_at":"2023-04-26T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.532538+00:00","generated_at":"2026-06-16T13:24:11.909380+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Otis Q1 adjusted EPS $0.80 beats; raises buyback target to $700-800M; updates FY outlook","bullets":["Q1 adjusted EPS $0.80 (+5.3% YoY); GAAP EPS $0.79 (+8.2%); organic sales +3.6%.","New Equipment orders up 7.4% at constant currency; adjusted backlog +10% at constant currency.","Service organic sales +6.3%; operating profit +$40M at constant currency.","Free cash flow $253M (76% conversion); FY free cash flow guidance reaffirmed $1.5-1.55B.","FY adjusted EPS guidance raised to $3.40-3.50; share repurchase target increased to $700-800M."],"urls":{"canonical":"https://secwatch.observer/filing/0001781335-23-000013","json":"https://secwatch.observer/filing/0001781335-23-000013.json","markdown":"https://secwatch.observer/filing/0001781335-23-000013.md","text":"https://secwatch.observer/filing/0001781335-23-000013.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1781335/000178133523000013/0001781335-23-000013-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1781335/000178133523000013/otis-20230426.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T13:24:11.909380+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ff9c85990e0cb800f0b2c13bcd5045b9c176b849","claim":"Otis Worldwide Corp reported Full year 2023 results: revenue $13.9 to $14.2 billion, EPS $3.40 to $3.50.","evidence_excerpt":"decreased $221 million versus prior year due to working capital increases from payment timing. 2023 Outlook 1 Otis is revising its full year outlook: • Adjusted net sales of $13.9 to $14.2 billion, up 2.5 to 4.5% • Organic sales up 4 to 6% ◦ Organic New Equipment sales up 3 to 5% ◦ Organic Service sales up 5 to 7% • Adjusted operating profit of $2.2 to $2.3","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1781335/000178133523000013/0001781335-23-000013-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"Full year 2023"},{"label":"Revenue","value":"$13.9 to $14.2 billion"},{"label":"EPS","value":"$3.40 to $3.50"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}