Otis Q3 2023: adj EPS $0.95 (+18.8%), organic sales +5.2%, raises full-year guidance

Otis Worldwide Corp

2023-Q3 EPS reported $2.60 revenue$10,589,000,000

Q3 adjusted EPS $0.95 (up 18.8% YoY); GAAP EPS $0.91 (up 18.2%).
Organic sales up 5.2% to $3.5B; Service organic sales +8.4%, New Equipment organic sales +1.0%.
Maintenance portfolio units grew 4.2%; New Equipment orders down 10%, Mod orders up 13%.
Service operating profit margin expanded 90 bps to 24.8% (adj); total adj operating margin +60 bps to 16.9%.
Full-year guidance raised: adj EPS ~$3.52 (up ~11%), organic sales ~+5.5%, free cash flow ~$1.5B.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Otis Worldwide Corp reported third quarter 2023 results: revenue $3.5 billion, net income $376 million, EPS $0.91. Guidance raised.

Period: third quarter 2023
Revenue: $3.5 billion
Net income: $376 million
EPS: $0.91
Guidance: raised
Result: reported results

Exact text from the filing

adjusted EPS of ~$3.52 and free cash flow of ~$1.5 billion. FARMINGTON, Conn., October 25, 2023 – Otis Worldwide Corporation (NYSE:OTIS) reported third quarter 2023 net sales of $3.5 billion with 5.2% organic growth. GAAP diluted earnings per share (EPS) of $0.91 was up 18.2% versus the prior year and adjusted EPS increased 18.8% to $0.95. "Otis delivered strong

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Source: SEC EDGAR

accession 0001781335-23-000033

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