Compared to Estimates, Otis Worldwide (OTIS) Q3 Earnings: A Look at Key Metrics

Zacks Equity Research
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Otis Worldwide (OTIS) reported $3.55 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 0.7%. EPS of $0.96 for the same period compares to $0.95 a year ago.

The reported revenue represents a surprise of -1.25% over the Zacks Consensus Estimate of $3.59 billion. With the consensus EPS estimate being $0.97, the EPS surprise was -1.03%.

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.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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: $2.24 billion compared to the $2.21 billion average estimate based on three analysts. The reported number represents a change of +7.2% year over year.

  • Net Sales- New Equipment: $1.31 billion versus the three-analyst average estimate of $1.38 billion. The reported number represents a year-over-year change of -8.8%.

  • Adjusted Operating Profit- New Equipment: $84 million versus $99.45 million estimated by three analysts on average.

  • Adjusted Operating Profit- Service: $558 million versus the three-analyst average estimate of $555.31 million.

  • Operating Profit- General corporate expenses and other: -$276 million versus the two-analyst average estimate of -$41.52 million.

View all Key Company Metrics for Otis Worldwide here>>>

Shares of Otis Worldwide have returned -2.3% over the past month versus the Zacks S&P 500 composite's +1.8% 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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