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Compared to Estimates, Otis Worldwide (OTIS) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2023, Otis Worldwide (OTIS - Free Report) reported revenue of $3.52 billion, up 5.4% over the same period last year. EPS came in at $0.95, compared to $0.80 in the year-ago quarter.
The reported revenue represents a surprise of +1.20% over the Zacks Consensus Estimate of $3.48 billion. With the consensus EPS estimate being $0.87, the EPS surprise was +9.20%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $2.09 billion compared to the $2 billion average estimate based on two analysts. The reported number represents a change of +10.1% year over year.
Net Sales- New Equipment: $1.44 billion versus the two-analyst average estimate of $1.48 billion. The reported number represents a year-over-year change of -0.8%.
Adjusted Operating Profit- New Equipment: $104 million compared to the $104.25 million average estimate based on two analysts.
Operating Profit- General corporate expenses and other: -$30 million compared to the -$25.91 million average estimate based on two analysts.
Adjusted Operating Profit- Service: $518 million compared to the $489.78 million average estimate based on two analysts.
Shares of Otis Worldwide have returned -2.6% over the past month versus the Zacks S&P 500 composite's -1.6% 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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Compared to Estimates, Otis Worldwide (OTIS) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Otis Worldwide (OTIS - Free Report) reported revenue of $3.52 billion, up 5.4% over the same period last year. EPS came in at $0.95, compared to $0.80 in the year-ago quarter.
The reported revenue represents a surprise of +1.20% over the Zacks Consensus Estimate of $3.48 billion. With the consensus EPS estimate being $0.87, the EPS surprise was +9.20%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $2.09 billion compared to the $2 billion average estimate based on two analysts. The reported number represents a change of +10.1% year over year.
- Net Sales- New Equipment: $1.44 billion versus the two-analyst average estimate of $1.48 billion. The reported number represents a year-over-year change of -0.8%.
- Adjusted Operating Profit- New Equipment: $104 million compared to the $104.25 million average estimate based on two analysts.
- Operating Profit- General corporate expenses and other: -$30 million compared to the -$25.91 million average estimate based on two analysts.
- Adjusted Operating Profit- Service: $518 million compared to the $489.78 million average estimate based on two analysts.
View all Key Company Metrics for Otis Worldwide here>>>Shares of Otis Worldwide have returned -2.6% over the past month versus the Zacks S&P 500 composite's -1.6% 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.