secwatch.observer — SEC 8-K summary
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Issuer:     Otis Worldwide Corp (OTIS)
CIK:        0001781335
Form:       8-K
Filed at:   2023-10-25T23:59:59+00:00
Accession:  0001781335-23-000033
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1781335/000178133523000033/0001781335-23-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1781335/000178133523000033/otis-20231025.htm
  HTML page:      https://secwatch.observer/filing/0001781335-23-000033

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