Otis Worldwide reports Q3 EPS 95c, consensus 87c

Reports Q3 revenue $3.52B, consensus $3.52B. “Otis delivered strong results in the third quarter, highlighted by organic sales growth in both segments, 60 basis points of adjusted operating profit margin expansion and high-teens adjusted EPS growth,” said Judy Marks, Chair, CEO and president. “Emphasizing the consistent performance of our Service-driven business model, this quarter marks the eleventh consecutive quarter of Service organic sales growth, the fourth of maintenance portfolio growth above 4% and the fifth of modernization orders growth above 10%. We head into the last quarter of 2023 from a position of strength, as our strategy has been resilient through macro volatility, giving us the confidence to once again raise our EPS guidance. We continue to demonstrate our ability to execute, deliver value for our shareholders, customers, and colleagues and meet the needs of passengers around the world.”