FARMINGTON, Conn., Oct. 31, 2024 /PRNewswire/ -- The Otis Worldwide Corporation (NYSE:OTIS) Board of Directors today declared a quarterly dividend of $0.39 per share of Otis' common stock. The dividend will be payable on December 6, 2024, to shareholders of record at the close of business on November 15, 2024. About Otis Otis is the world's leading elevator and escalator manufacturing, installation and service company. We move 2.3 billion people a day and maintain approximately 2.3 million customer units worldwide, the industry's largest Service portfolio. Headquartered in Connecticut, USA, Otis is 71,000 people strong, including 42,000 field professionals, all committed to meeting the dive

Otis delivers continued strong Service performance with high single digit Service sales growth GAAP EPS up 47.3% and adjusted EPS up 1.1%Service net sales up 7.2% and Service organic sales up 7.7%Maintenance portfolio units increased 4.2%Mod orders up 3%, backlog up 14%, up 12% at constant currencyGAAP cash flow from operations of $394 million; adjusted free cash flow of $381 millionShare repurchases of $200 millionYTD GAAP EPS up 24.2% and YTD adjusted EPS up 8.2%, share repurchases of $800 millionUpdated full-year outlook1: adjusted EPS of ~$3.85 with ~6.5% Service organic sales growth and ~75 basis points of Service margin expansionFARMINGTON, Conn., Oct. 30, 2024 /PRNewswire/ -- Otis Wor

FARMINGTON, Conn., Oct. 9, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE:OTIS) will host a conference call on Wednesday, October 30, 2024, at 8:30 a.m. ET. Otis Chair, CEO & President Judy Marks and Executive Vice President & CFO Cristina Mendez will discuss the company's third quarter results and 2024 outlook. We encourage you to join through our webcast link. A corresponding presentation and news release will be available on www.otis.com prior to the call and a recording will be available on the website later in the day. If you are unable to join via the webcast, please contact Otis investor relations ([email protected]) for alternative dial-in information. Additional inv

In Otis' Made to Move Communities™ global competition, students will apply Artificial Intelligence to enable more inclusive and sustainable mobility solutions. FARMINGTON, Conn., Sept. 10, 2024 /PRNewswire/ -- Artificial Intelligence is revolutionizing the speed, accuracy and scale at which complex challenges are addressed. Over the next several months, more than 250 students from dozens of schools representing more than 15 countries and territories around the world will participate in the Made to Move Communities challenge to propose innovative ways AI can improve urban mobility. They'll be guided by volunteer mentors from Otis (NYSE:OTIS), the world's leading elevator and escalator manufac

FARMINGTON, Conn., Sept. 3, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE:OTIS) Chair, CEO & President Judy Marks will participate in a fireside chat at the 12th annual Laguna conference hosted by Morgan Stanley on Thursday, September 12, 2024 at 2:35 p.m. PT (5:35 p.m. ET). The presentation will be broadcast live at www.otis.com. About Otis Otis is the world's leading elevator and escalator manufacturing, installation and service company. We move 2.3 billion people a day and maintain approximately 2.3 million customer units worldwide, the industry's largest Service portfolio. Headquartered in Connecticut, USA, Otis is 71,000 people strong, including 42,000 field professionals, all

FARMINGTON, Conn., July 25, 2024 /PRNewswire/ -- The Otis Worldwide Corporation (NYSE:OTIS) Board of Directors today declared a quarterly dividend of $0.39 per share of Otis' common stock. The dividend will be payable on September 6, 2024, to shareholders of record at the close of business on August 16, 2024. About Otis Otis is the world's leading elevator and escalator manufacturing, installation and service company. We move 2.3 billion people a day and maintain approximately 2.3 million customer units worldwide, the industry's largest Service portfolio. Headquartered in Connecticut, USA, Otis is 71,000 people strong, including 42,000 field professionals, all committed to meeting the diver

Otis delivers continued strong Service performance leading to mid-teens EPS growth GAAP EPS up 13.3% and adjusted EPS up 15.2% with continued margin expansionService net sales up 3.0% and Service organic sales up 5.1%Mod orders up 14%, backlog up 15%, up 17% at constant currencyMaintenance portfolio units increased 4.2%GAAP cash flow from operations of $308 million; adjusted free cash flow of $353 millionShare repurchases of $300 million1H GAAP EPS up 11.2% and adjusted EPS up 12.8%, GAAP operating profit margin expansion of 30 basis points and adjusted operating profit margin expansion of 100 basis points, share repurchases of $600 millionStrong execution on UpLift program; increasing expec

She succeeds Anurag Maheshwari to lead financial activities at Otis FARMINGTON, Conn., July 19, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) announces the appointment of Cristina Méndez as Executive Vice President & Chief Financial Officer, reporting directly to Otis Chair, CEO & President, Judy Marks. Effective August 23, Méndez will succeed Anurag Maheshwari, who is pursuing an opportunity outside Otis.  "Cristina has deep expertise in financial management and extensive experience leading transformation within and outside Otis. She understands our long-term strategy and service-driven business model and how to drive growth and shareholder value," said Marks. "As a strategi

FARMINGTON, Conn., July 10, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE:OTIS) will host a conference call on Wednesday, July 24, 2024, at 8:30 a.m. ET. Otis Chair, CEO & President Judy Marks and Executive Vice President & CFO Anurag Maheshwari will discuss the company's second quarter results and 2024 outlook. We encourage you to join through our webcast link. A corresponding presentation and news release will be available on www.otis.com prior to the call and a recording will be available on the website later in the day. If you are unable to join via the webcast, please contact Otis investor relations ([email protected]) for alternative dial-in information. Additional in

Reinforces commitment to ESG in support of its business strategy FARMINGTON, Conn., June 12, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE:OTIS) published its 2023 ESG Report, describing its Environmental, Social and Governance (ESG) strategy and outlining progress on its 13 ESG goals. The Otis ESG strategy focuses on the key areas of Health & Safety, Environment & Impact, People & Communities, and Governance & Accountability. Progress made in each helps to drive value for stakeholders and to advance the company's business strategy across five strategic pillars: sustain New Equipment growth, accelerate Service portfolio growth, deliver modernization value, advance digitalization, an

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Otis Worldwide Corp (NYSE:OTIS) shares are trading lower after the company reported a second-quarter FY24 sales decline of 3.2% Y/Y to $3.60 billion, missing the consensus of $3.73 billion. Adjusted operating profit increased to $613 million from $590 million, and the margin expanded by 110 bps to 17.0%, driven by favorable segment performance and mix. New Equipment sales of $1.42 billion fell 11.4% Y/Y, with the segment operating margin expanding 30 bps to 7.7%. New Equipment orders declined 11% Y/Y at constant currency as growth in EMEA and Asia Pacific more than offset by declines in China and the Americas. The new equipment backlog fell by 4% Y/Y in the quarter. Service sales

2024 Outlook1 Otis is revising its full year outlook:   Net sales of $14.3 billion to $14.5 billion Organic sales up 1% to 3% Organic New Equipment sales down mid-single digits Organic Service sales up 6% to 7% Adjusted operating profit of $2.40 billion to $2.45 billion, up $160 million to $190 million at constant currency; up $135 million to $175 million at actual currency Adjusted EPS of $3.85 to $3.90, up 9% to 10%; adjusted effective tax rate of approximately 25.25% Adjusted free cash flow of approximately $1.5 billion to $1.6 billion

Otis Worldwide (NYSE:OTIS) reported quarterly earnings of $1.06 per share which beat the analyst consensus estimate of $1.03 by 2.91 percent. This is a 15.22 percent increase over earnings of $0.92 per share from the same period last year. The company reported quarterly sales of $3.601 billion which missed the analyst consensus estimate of $3.727 billion by 3.38 percent. This is a 3.20 percent decrease over sales of $3.720 billion the same period last year.

- SEC Filing

Wells Fargo analyst Joseph O'Dea maintains Otis Worldwide (NYSE:OTIS) with a Equal-Weight and raises the price target from $98 to $100.

Otis Worldwide's (NYSE:OTIS) short percent of float has fallen 3.88% since its last report. The company recently reported that it has 4.44 million shares sold short, which is 1.24% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.42 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interes

Argus Research analyst John Eade maintains Otis Worldwide (NYSE:OTIS) with a Buy and raises the price target from $102 to $108.

JP Morgan analyst Stephen Tusa maintains Otis Worldwide (NYSE:OTIS) with a Neutral and raises the price target from $104 to $105.

Wells Fargo analyst Joseph O'Dea maintains Otis Worldwide (NYSE:OTIS) with a Equal-Weight and lowers the price target from $102 to $98.

She succeeds Anurag Maheshwari to lead financial activities at Otis FARMINGTON, Conn., July 19, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) announces the appointment of Cristina Méndez as Executive Vice President & Chief Financial Officer, reporting directly to Otis Chair, CEO & President, Judy Marks. Effective August 23, Méndez will succeed Anurag Maheshwari, who is pursuing an opportunity outside Otis.  "Cristina has deep expertise in financial management and extensive experience leading transformation within and outside Otis. She understands our long-term strategy and service-driven business model and how to drive growth and shareholder value," said Marks. "As a strategi

Reinforces commitment to ESG in support of its business strategy FARMINGTON, Conn., June 12, 2024 /PRNewswire/ -- Otis Worldwide Corporation (NYSE:OTIS) published its 2023 ESG Report, describing its Environmental, Social and Governance (ESG) strategy and outlining progress on its 13 ESG goals. The Otis ESG strategy focuses on the key areas of Health & Safety, Environment & Impact, People & Communities, and Governance & Accountability. Progress made in each helps to drive value for stakeholders and to advance the company's business strategy across five strategic pillars: sustain New Equipment growth, accelerate Service portfolio growth, deliver modernization value, advance digitalization, an

NEW YORK, March 07, 2024 (GLOBE NEWSWIRE) -- EXL (NASDAQ:EXLS), a leading data analytics and digital operations and solutions company, announced today that Thomas Bartlett has been appointed to EXL's board of directors as an independent director, effective March 6, 2024. Bartlett will serve on the board's audit committee and nominating and governance committee.   The company also announced that Som Mittal has notified the board that he will not stand for re-election at EXL's 2024 annual meeting of stockholders and therefore will be retiring from the board in June 2024. "We are excited to welcome Tom to the board," said Board Chair Vikram Pandit. "Tom brings a tremendous amount of experien

Introduces Eight-Member Slate with Deep Experience in Governance, Finance, Legislative and Regulatory Affairs, Strategic Transformations, Transportation and the Railroad Sector Proposes Jim Barber, a Proven Transportation Network Leader and Former Executive at UPS, as CEO and Jamie Boychuk, a Career Railroader and Former Executive at CSX, as COO Introduces "Network of the Future" Strategy Offering Path to Significant Value Creation Releases Presentation Entitled "The Case for Leadership, Safety and Strategy Changes at Norfolk Southern" That is Downloadable at www.MoveNSCForward.com Ohio-based Ancora Holdings Group, LLC, its affiliates and the other participants in its solicitation (

Jim Cramer and Bernardo Calleja to retire in early 2024 FARMINGTON, Conn., Sept. 28, 2023 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) announces the appointment of Tracy Embree as President, Otis Americas and Enrique Miñarro Viseras as President, Otis Europe, Middle East and Africa (EMEA), reporting directly to Otis Chair, CEO & President, Judy Marks. Effective Oct. 1, Embree will succeed Jim Cramer and Miñarro Viseras will succeed Bernardo Calleja. Otis is the world's leading company for elevator and escalator manufacturing, installation and service. Embree joins O

She succeeds Perry Zheng who will assume a new executive leadership role at Otis World Headquarters FARMINGTON, Conn., Feb. 27, 2023 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) announces the appointment of Sally Loh as President, Otis China, reporting directly to Otis Chair, CEO & President, Judy Marks. Effective March 1, Loh will succeed Perry Zheng, who will return to Otis World Headquarters in the newly created role of Executive Vice President, Chief Product, Delivery and Customer Officer. March 1: Sally Loh will be President Otis China. Perry Zheng will be EVP, Chief Product, Delivery & Customer Officer."Sally's years of experience and deep knowledge of our operations and tea

He succeeds Rahul Ghai to lead financial activities at Otis FARMINGTON, Conn., June 27, 2022 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) announces the appointment of Anurag Maheshwari as Executive Vice President & Chief Financial Officer, reporting directly to Otis Chair, CEO & President, Judy Marks. Effective August 12, Maheshwari will succeed Rahul Ghai, who has accepted a position outside Otis.  "Anurag has championed our long-term strategy and understands how to drive growth and shareholder value. He has successfully led our finance teams in the highly diverse

RICHMOND, Va., March 17, 2022 (GLOBE NEWSWIRE) -- The Brink's Company (NYSE:BCO), the global leader in total cash management, route-based secure logistics and payment solutions, today announced that Mark Eubanks, executive vice president and chief operating officer (COO), has been appointed president and chief executive officer (CEO), effective May 6, 2022. At that time, Doug Pertz, who has served as president and CEO since July 2016, will transition to executive chairman of the board. In connection with this leadership transition, Mike Herling, who has served as chairman since 2016 and as a director since 2009, will become the board's independent lead director. The board also nominated E

RICHMOND, Va., Aug. 03, 2021 (GLOBE NEWSWIRE) -- The Brink's Company (NYSE:BCO), the global leader in total cash management, route-based secure logistics and payment solutions, today announced that, effective September 7, Mark Eubanks will join the company as executive vice president and chief operating officer, with oversight responsibilities for the company's four regional operating segments. Eubanks, 49, most recently served as president, Europe, Middle East and Africa for Otis Worldwide Corporation (NYSE:OTIS), the leading elevator and escalator manufacturing, installation and service company, and was based in Paris, France.   The hiring of Eubanks is part of the company's CEO success