---
schema_version: "secwatch.filing_event.v1"
accession: "0001781335-24-000016"
form_type: "8-K"
ticker: "OTIS"
cik: "0001781335"
company_name: "Otis Worldwide Corp"
filed_at: "2024-04-24T23:59:59+00:00"
generated_at: "2026-06-03T09:48:40.337260+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Otis Q1: Adj EPS $0.88 (+10%), Service sales +6.5% organic; New Equip orders -10%; raises FY guidance

## Summary
- GAAP EPS $0.86 (+8.9%), adjusted EPS $0.88 (+10.0%); revenue $3.44B, organic +3.8%.
- Service organic sales +6.5%, margin 24.2% (+70 bps); modernization orders +13%, backlog +14%.
- New Equipment orders -10% at constant currency, backlog -2% (~flat at cc).
- Raised FY adj EPS guidance to $3.83-$3.90; boosted buyback target to $1B; dividend +14.7%.
- Q1 cash from ops $171M (-$107M), adj free cash flow $155M (-$98M) due to working capital.

## SEC filing metadata
- accession: 0001781335-24-000016
- form_type: 8-K
- ticker: OTIS
- cik: 0001781335
- company_name: Otis Worldwide Corp
- filed_at: 2024-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1781335/000178133524000016/0001781335-24-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1781335/000178133524000016/otis-20240424.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001781335-24-000016
- JSON: https://secwatch.observer/filing/0001781335-24-000016.json
- Plain text: https://secwatch.observer/filing/0001781335-24-000016.txt

## Key facts
- Earnings Releases
  Otis Worldwide Corp reported first quarter 2024 results: revenue $3.4 billion, net income $353, EPS $0.86. Guidance raised.
  - Period: first quarter 2024
  - Revenue: $3.4 billion
  - Net income: $353
  - EPS: $0.86
  - Guidance: raised
  - Result: reported results
  source text: Otis Worldwide Corporation (NYSE:OTIS) reported first quarter 2024 net sales of $3.4 billion with 3.8% organic growth. GAAP earnings per share (EPS) increased 8.9% to $0.86 and adjusted EPS increased 10.0% to $0.88.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1781335/000178133524000016/0001781335-24-000016-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.