FARMINGTON, Conn. (AP) — FARMINGTON, Conn. (AP) — Otis Worldwide Corporation (OTIS) on Wednesday reported third-quarter earnings of $374 million.
The Farmington, Connecticut-based company said it had net income of 95 cents per share. Earnings, adjusted for restructuring costs and non-recurring costs, were $1.05 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The company posted revenue of $3.69 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $3.65 billion.
Otis Worldwide expects full-year earnings in the range of $4.04 to $4.08 per share, with revenue in the range of $14.5 billion to $14.6 billion.
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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
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