Reports Q1 revenue $3.44B, consensus $3.46B. “Otis continues to demonstrate the strength of our Service-driven business model with maintenance portfolio growth above 4% and both year over year and quarter over quarter Service margin expansion,” said Judy Marks, Chair, CEO & President. “In addition, modernization strength continues, including another quarter of orders growth above 10% leading to mid-teens backlog growth and organic sales growth of nearly 10%. After delivering a strong first quarter, we are raising our EPS outlook driven by operational performance and increasing our share repurchase target to $1 billion for the year. With confidence in our long-term strategy, we have raised the quarterly dividend 14.7%, reinforcing our commitment to creating shareholder value.”
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