Otis Worldwide: Q1 Earnings Snapshot

FARMINGTON, Conn. (AP) — FARMINGTON, Conn. (AP) — Otis Worldwide Corporation (OTIS) on Wednesday reported first-quarter profit of $331 million.

On a per-share basis, the Farmington, Connecticut-based company said it had profit of 79 cents. Earnings, adjusted for one-time gains and costs, came to 80 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.

The company posted revenue of $3.35 billion in the period.

Otis Worldwide expects full-year earnings in the range of $3.40 to $3.50 per share, with revenue in the range of $13.9 billion to $14.2 billion.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OTIS at https://www.zacks.com/ap/OTIS

Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

Federal News Network Logo
Log in to your WTOP account for notifications and alerts customized for you.

Sign up