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Otis Raises FY24 Outlook: Adj. EPS $3.83-$3.90 ($3.79-$3.89 Prior) Vs. $3.87 Estimate, Revenue $14.50B-$14.8B Vs. $14.70B Estimate

Author: Benzinga Newsdesk | April 24, 2024 06:11am

2024 Outlook1

Otis is revising its full year outlook:

•Net sales of $14.5 to $14.8 billion

•Organic sales up 3 to 5%

◦Organic New Equipment sales approximately flat

◦Organic Service sales up 6 to 7%

•Adjusted operating profit of $2.40 to $2.45 billion, up $160 to $190 million at constant currency; up $135 to $175 million at actual currency

•Adjusted EPS of $3.83 to $3.90, up 8 to 10%; adjusted effective tax rate of approximately 25.5%

•Adjusted free cash flow of approximately $1.6 billion

Posted In: OTIS