secwatch.observer — SEC 8-K summary
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Issuer:     Otis Worldwide Corp (OTIS)
CIK:        0001781335
Form:       8-K
Filed at:   2024-10-30T23:59:59+00:00
Accession:  0001781335-24-000054
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Otis Q3 adjusted EPS $0.96 (+1.1% YoY); Service organic sales +7.7%; New Equipment -8.8%
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- GAAP EPS $1.34 (+47.3%), adjusted EPS $0.96 (+1.1%) on revenue $3.5B (+0.7%).
- Service net sales +7.2% organic (+7.7%); segment profit $555M (+$37M) with margin flat at 24.8%.
- New Equipment sales -8.8% organic (-8.2%); orders -3% constant currency, China decline >20%.
- FY2024 outlook: adjusted EPS ~$3.85 (+9%), organic Service sales ~6.5%, adj. free cash flow $1.4-1.5B.
- Q3 share repurchases $200M; YTD $800M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1781335/000178133524000054/0001781335-24-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1781335/000178133524000054/otis-20241030.htm
  HTML page:      https://secwatch.observer/filing/0001781335-24-000054

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