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Otis Worldwide (OTIS) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, Otis Worldwide (OTIS - Free Report) reported revenue of $3.72 billion, up 6.7% over the same period last year. EPS came in at $0.92, compared to $0.86 in the year-ago quarter.
The reported revenue represents a surprise of +4.79% over the Zacks Consensus Estimate of $3.55 billion. With the consensus EPS estimate being $0.86, the EPS surprise was +6.98%.
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: $2.12 billion versus the three-analyst average estimate of $2.01 billion. The reported number represents a year-over-year change of +8.3%.
Net Sales- New Equipment: $1.60 billion compared to the $1.54 billion average estimate based on three analysts. The reported number represents a change of +4.6% year over year.
Adjusted Operating Profit- New Equipment: $119 million versus $116.87 million estimated by three analysts on average.
Adjusted Operating Profit- Service: $499 million compared to the $477.11 million average estimate based on three analysts.
Operating Profit- General corporate expenses and other: -$28 million versus the two-analyst average estimate of -$26.97 million.
Shares of Otis Worldwide have returned -0.2% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Otis Worldwide (OTIS) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Otis Worldwide (OTIS - Free Report) reported revenue of $3.72 billion, up 6.7% over the same period last year. EPS came in at $0.92, compared to $0.86 in the year-ago quarter.
The reported revenue represents a surprise of +4.79% over the Zacks Consensus Estimate of $3.55 billion. With the consensus EPS estimate being $0.86, the EPS surprise was +6.98%.
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: $2.12 billion versus the three-analyst average estimate of $2.01 billion. The reported number represents a year-over-year change of +8.3%.
- Net Sales- New Equipment: $1.60 billion compared to the $1.54 billion average estimate based on three analysts. The reported number represents a change of +4.6% year over year.
- Adjusted Operating Profit- New Equipment: $119 million versus $116.87 million estimated by three analysts on average.
- Adjusted Operating Profit- Service: $499 million compared to the $477.11 million average estimate based on three analysts.
- Operating Profit- General corporate expenses and other: -$28 million versus the two-analyst average estimate of -$26.97 million.
View all Key Company Metrics for Otis Worldwide here>>>Shares of Otis Worldwide have returned -0.2% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.