Otis Worldwide: Q2 Earnings Insights

 

Shares of Otis Worldwide OTIS remained unaffected after the company reported Q2 results.

Quarterly Results

Earnings per share increased 41.07% over the past year to $0.79, which beat the estimate of $0.71.

Revenue of $3,701,000,000 rose by 22.19% from the same period last year, which beat the estimate of $3,450,000,000.

Guidance

The upcoming fiscal year's EPS expected to be between $2.89 and $2.93.

The upcoming fiscal year's revenue expected to be between $14,100,000,000 and $14,200,000,000.

Details Of The Call

Date: Jul 26, 2021

Time: 08:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/youppvgb

Technicals

Company's 52-week high was at $88.82

52-week low: $57.60

Price action over last quarter: Up 12.05%

Company Profile

Otis is the largest global elevator and escalator supplier by revenue. In 1854 Otis' founder and namesake, Elisha Graves Otis, invented a safety mechanism that prevented elevators from falling if the hoisting cable failed. As the largest global OEM, over decades Otis has built a base of 2 million elevators under service. Its business model is much the same as that of its competitors Kone, Schindler, and Thyssenkrupp. Otis operates a razor and blade model where it manufactures and installs elevators at a low profit to build an installed base that will provide high profits from service in the years thereafter.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsBZI-Recaps
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!