FARMINGTON, Conn. (AP) — FARMINGTON, Conn. (AP) — Otis Worldwide Corporation (OTIS) on Wednesday reported fourth-quarter net income of $374 million.
On a per-share basis, the Farmington, Connecticut-based company said it had profit of 95 cents. Earnings, adjusted for restructuring costs and non-recurring costs, were $1.03 per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of $1.03 per share.
The company posted revenue of $3.8 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $3.9 billion.
For the year, the company reported profit of $1.38 billion, or $3.50 per share. Revenue was reported as $14.43 billion.
Otis Worldwide expects full-year revenue in the range of $15 billion to $15.3 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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