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1Q Net sales up 2.7% and organic sales up 3.8% driven by Service net sales up 5.8% with organic sales up 6.5%
•1Q GAAP EPS up 8.9% and adjusted EPS up 10.0% with GAAP operating profit margin expansion of 50 basis points and adjusted operating profit margin expansion of 80 basis points
•1Q New Equipment orders down 10%, backlog down 2%, ~flat at constant currency
•1Q Mod orders up 13%, backlog up 14%, up 15% at constant currency
•Maintenance portfolio units increased 4.1%
•1Q GAAP cash flow from operations of $171 million; adjusted free cash flow of $155 million
•1Q share repurchases of $300 million
•Updated full-year outlook1; increasing adjusted EPS to $3.83 to $3.90 and full year share repurchase target to $1 billion
Posted In: OTIS
