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Otis Worldwide (OTIS) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2023, Otis Worldwide (OTIS - Free Report) reported revenue of $3.35 billion, down 2% over the same period last year. EPS came in at $0.80, compared to $0.77 in the year-ago quarter.
The reported revenue represents a surprise of +2.09% over the Zacks Consensus Estimate of $3.28 billion. With the consensus EPS estimate being $0.74, the EPS surprise was +8.11%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Otis Worldwide performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Service: $2.04 billion versus the three-analyst average estimate of $1.96 billion. The reported number represents a year-over-year change of +2.4%.
Net Sales- New Equipment: $1.31 billion versus the three-analyst average estimate of $1.31 billion. The reported number represents a year-over-year change of -8.1%.
Adjusted Operating Profit- Service: $479 million versus $440.22 million estimated by three analysts on average.
Adjusted Operating Profit- New Equipment: $69 million versus the three-analyst average estimate of $74.59 million.
Shares of Otis Worldwide have returned +1.1% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Otis Worldwide (OTIS) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2023, Otis Worldwide (OTIS - Free Report) reported revenue of $3.35 billion, down 2% over the same period last year. EPS came in at $0.80, compared to $0.77 in the year-ago quarter.
The reported revenue represents a surprise of +2.09% over the Zacks Consensus Estimate of $3.28 billion. With the consensus EPS estimate being $0.74, the EPS surprise was +8.11%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Otis Worldwide performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Service: $2.04 billion versus the three-analyst average estimate of $1.96 billion. The reported number represents a year-over-year change of +2.4%.
- Net Sales- New Equipment: $1.31 billion versus the three-analyst average estimate of $1.31 billion. The reported number represents a year-over-year change of -8.1%.
- Adjusted Operating Profit- Service: $479 million versus $440.22 million estimated by three analysts on average.
- Adjusted Operating Profit- New Equipment: $69 million versus the three-analyst average estimate of $74.59 million.
View all Key Company Metrics for Otis Worldwide here>>>Shares of Otis Worldwide have returned +1.1% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.