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.