Why Otis Worldwide's Stock Is Trading Higher Today

Otis Worldwide Corporation OTIS shares are trading higher after the company reported better-than-expected first-quarter EPS and sales results. The company also raised its 2021 organic sales growth guidance and issued 2021 EPS guidance above analyst estimates.

Otis is the world's leading elevator and escalator manufacturing, installation and service company.

Otis Worldwide reported quarterly earnings of 72 cents per share, which beat the analyst consensus estimate of 63 cents by 14%. The company reported quarterly sales of $3.41 billion, which beat the analyst consensus estimate of $3.18 billion by 7%.

Otis Worldwide's stock was trading approximately 7% higher. The stock set a new 52-week high today at $76.86 and has a 52-week low of $47.20.